Consumers warned of energy price hike
Thousands of gas and electricity consumers across the UK have been warned that they could be in line for an imminent energy price hike.
Energy analysts have advised householders to check whether their fixed-rate tariffs are due to expire at the end of this month. A total of eight fixed-rate tariffs are set to expire, with those who fail to take action expected to see bills rise by an average of 9.43 per cent.
British Gas, npower, iSupply Energy and First:Utility all have tariffs due for expiration at the end of April. While British Gas customers will automatically be moved to the standard tariff, the other firms' customers will not.
"Once your fixed term ends, it’s likely you will see your energy bills rise unless you take action," said Gocompare.com energy spokesman Jeremy Cryer. "The energy market is extremely competitive at the moment. This means there are some great fixed deals available right now."
British Gas customers are expected to automatically see their bills fall by 3.2 per cent, because the energy provider's standard tariff is now lower than the fixed-rate tariffs that are coming to an end.