It’s officially Spring, bringing it with the prospect of sunshine, longer days and warmer weather. So you could be forgiven for breathing a sigh of relief over falling energy bills. Not so fast.
Thousands of homeowners are set for energy bill hikes in the next two weeks, with 29 fixed-rate tariffs due to expire at the end of March. According to the price comparison website MoneySuperMarket, customers on these tariffs are likely to face automatic bill increases of up to £252, with providers rolling them onto standard tariffs, which are typically their most expensive.
Given the historic nefarious practices of some energy companies, it should come as no surprise that this is happening. Much the same process is employed by mortgage companies and savings firms when borrowers and savers come to the end of fixed term deals – they are automatically moved onto a standard rate which, in most instances, is less value for money.
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