Almost half a million UK households could see their energy bills rise by £50 million as 90 fixed deals from 19 energy suppliers end this month.
That’s according to a new survey from Uswitch, which suggests 486,559 households can avoid an average £103 price hike if they switch to a cheaper plan.
It claims customers with deals ending at Ovo Energy, npower and British Gas could see increases of £269, £174 and £168 respectively.
The comparison and switching service warns customers who don’t move to a cheaper deal will typically be rolled onto their supplier’s default or ‘Standard Variable’ tariff.
Will Owen, Energy Expert at Uswitch, said: “The gap between the price cap and the cheapest deal hasn’t been this wide for more than half a year and means there are huge potential savings for thousands of homes. With household energy usage on the increase during lockdown, no one wants to pay more than they need to.
“The cheapest fixed tariffs are getting cheaper still, with tumbling wholesale costs and suppliers driving down prices to attract new customers.”