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Brits urged to switch energy supplier by 31st January to avoid price hikes of over £190 per year

47 fixed price energy deals will end this month.

Brits are being urged to switch energy supplier by 31st January as bills are set to skyrocket by £114 per household.

According to new data conducted by comparison site uSwitch, over 142,000 UK households could see their bills boosted by a hefty 19%, as 47 fixed price deals come to an end this month. This means those who don’t switch supplier by the deadline could be automatically rolled onto their supplier’s default, or the ‘Standard Variable’ tariff, which are among the worst value energy plans on the market.

Bills for 142,000 households will go up by £16 million if they don’t switch. The average household will see increases of £114 per year, but those who are customers of EDF, Shell Energy and Scottish Power could see rises of £192, £175, and £146 respectively.

In February, Ofgem is expected to announce that the price cap will decrease slightly, but this lower rate won’t come into effect until 1st April. It’s worth knowing that even if the cap lowers, energy customers on default tariffs could still be overpaying by around £300 a year.

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