How you can beat rising energy prices

4 May 2011

Energy suppliers are expected to increase prices yet again, according to Mark Todd, director of the comparison website, fears prices could rise as early as May.
"Suppliers are seeing wholesale prices continue to rise because of world events and many investors are not happy with some energy company profitability levels and want prices to go up even more, on top of the recent average rise of 5.9% over the winter," he explains.
"A major price movement of around 15% is expected between August and November but suppliers are currently thought to be considering smaller spring price adjustments before then."

Compare energy prices and switch provider
All six of the big energy providers – British Gas, Scottish Power, Scottish and Southern Energy, npower, E.ON and EDF Energy have increased their prices in recent months.

However, while energy prices might be rising, consumers don't necessarily have to put up with bigger bills. By switching to a more competitive deal it could be possible to offset any price hikes.

Could you save now?

Taking a typical three-bedroom semi-detached in St Albans, currently paying out £75 a month for gas and £32 a month for electricity, Moneywise checked out the possible savings currently on offer.

[widget:10667] British Gas WebSaver 11 Dual Fuel
Annual bill: £1086.59
Annual saving: £197.41
Exit penalty of £30 for each fuel if you leave before May 31 2012
Minimum of 6% discount on standard British Gas Tariff until May 31 2012.

Scottish Power Online Energy Saver 14 Dual Fuel
Annual bill: £1158.07
Annual savings: £125.93
Exit penalty of £30.64 for electricity and £20.42 for gas if leave before April 30 2012
Minimum of 2% discount on standard Scottish Power Tariff until April 30 2012

EDF Energy Online Saver 12 Dual Fuel
Annual bill: £1216.87
Annual savings £67.13
Exit penalty of £50 if before September 30 2012
Minimum 2% discount on standard EDF Energy Tariff

Npower Go Fix 5 Dual Fuel
Annual bill: £1241.44
Annual savings: £42.56
Exit penalty of £20 per fuel if cancelled before May 31 2012
Prices fixed until May 31 2012

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