Energy suppliers with biggest tariff increases this May revealed

Millions could see a huge spike in their energy bills starting next month.

UK households are urged to leverage their energy bills and note the tariff expiration date as if their fixed term expires in May they could face a massive price hike if they do not switch.

Forbes Advisor UK, energy analysts, reveals the suppliers with the biggest price increases for tariffs that expire by May 31, 2021.

While fixed-term deals tend to offer the best value, their usefulness is limited to a set period of time, typically 12 months.

As soon as this time has expired, the energy suppliers will switch their customers to “variable standard tariffs”.

These offers – sometimes referred to as standard plans – are usually the most expensive option.

The average bill hike that will be felt by those affected in May is an additional £ 192.20 (an increase of + 21.9%) if they don’t switch suppliers.

However, British Gas customers will see the biggest increase.

Customers British Gases Energy and Boiler Cover May 2021v4 increases annual gas and electricity bills from £ 806.26 to £ 1,138.18, increasing bills by £ 331.91.

For Npower customers with the ‘Exclusive 12 Month Fix v1’ tariff, energy costs increase from £ 806.35 to £ 1,137.33 – an additional £ 330.99.

Scroll down to see the 10 biggest increases and 10 cheapest rates.

Variable standard tariffs – or SVTs – are the pegs for loyal customers, where energy providers exceed the odds and offer new customers – those who shop and switch regularly – far better deals.

Plus, SVTs are now more expensive than they have been in a long time, as energy regulator Ofgem last month raised its SVT price cap to £ 1,138, which utilities immediately treated as a target rather than a limit.

Kevin Pratt, personal finance expert Forbes Advisor UK, said, “With longer and warmer days it can be easy to forget about our gas and electricity usage, but just because we use less energy doesn’t mean our bills can’t get more expensive.”

“Fixed-term tariffs are the norm for millions of households because they not only protect against future price increases, but are usually the far cheaper option.

“But as with anything, if you let them go past their expiration date, they’ll soon go bad. So don’t get rolled onto your supplier’s standard SVT when your business ends.”

Switching energy providers can be a simple process.

LookAfterMyBills is a free service that automatically switches you to the cheapest energy company.

meanwhile MoneySupermarket compares hundreds of suppliers and Uswitch offers easy, problem-free Switching and saving too often exclusive tariffs.

Top 10 Biggest Price Increases For Plans Expiring By May 31, 2021:

  • British gas – “Energy and boiler coverage May 2021v4” – currently costs £ 806.26 – will cost £ 1,138.18 after May 31st
  • nPower Select – “Exclusive 12-month fix v1” – currently costs £ 806.35 – will cost £ 1,137.33 after May 18th
  • nPower Select – “Exclusive 12-month fix v2” – currently costs £ 806.73 – will cost £ 1,137.33 after May 25th

  • E.ON – “Fix 1 year exclusive April 2020” – currently costs £ 807.72 – will cost £ 1,138.18 after May 15th

  • EDF Energy – – “Simply online 1 year Fix May21v4” – currently costs £ 808.83 – will cost £ 1,137.99 after May 31st

  • British gas – “Energy and boiler coverage May 2021v3” – currently costs £ 810.13 – will cost £ 1,138.18 after May 31st

  • EDF Energy – “Simply online 1 year Fix May21v5” – currently costs £ 812.27 – costs £ 1,137.99 after May 31st

  • EDF Energy – “Simply online 1 year Fix May21v7” – currently costs £ 815.45 – will cost £ 1,137.99 after May 31st

  • E.ON – “Fix Online Exclusive v36” – currently costs £ 815.66 – costs £ 1,138.18 after May 8th

  • British gas – – “Energy and Household Services May 2021v2” – currently costs £ 817.90 – will cost £ 1,138.18 after May 31st

Top 10 cheapest dual-fuel fixed tariffs – as of April 29, 2021:

  • Folk energy – “East Lothian Fixed Fare March 21st” – Fixed rate for £ 909.92
  • Utility Point – “Just Up 21 Wk06 v2” – Fixed rate at £ 920.01

  • Utility Point – “Just Up 21 Wk10 v2” – Fixed rate at £ 937.47

  • Green – “Aston” – Fixed rate at £ 937.64

  • Folk energy – “People’s Energy Fixed Super Tariff March 21st” – Fixed rate at £ 940.78

  • London Power – “My London Fixed Annual Plan 12m Fixed March 2021v2” – Fixed rate at £ 941.06

  • E.ON Next – “Next Exclusive v2” – Fixed rate at £ 942.10

  • Green – “Beam” – Fixed rate at £ 945.32

  • Avro Energy – “Simple and secure12M” – Fixed rate at £ 949.80

  • Utility Point – “Just Up 21 Wk06 v7” – Fixed rate at £ 953.71.

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