THOUSANDS of energy customers are paying more than they need to for gas and electric this winter after locking in to fixed deals to try and save cash.
Over 300 fixed energy deals cost more than standard variable tariff which is subject to the price cap, leaving households paying hundreds of pounds more.
Hundreds of thousands of customers on fixed energy deals are now paying substantially more than those on the standard variable tariffRex
Fixed deals all but disappeared after energy costs rocketed, as suppliers could not beat the price cap.
Around 29million households are now on the default price-capped tariff – but just over one million are currently locked in a fixed deal.
This means they are paying fixed costs for a set period, usually several years.
Fixing can save you cash if prices later go up – but there is a risk of paying more if prices fall.
Some locked in at the height of the energy crisis in the expectation that prices would only go higher.
While others fixed over the summer after the tariffs hit the market again off the back of falling wholesale energy prices.
Since then the price cap on standard variable tariffs has fallen and means the average household pays £1,923 a year from October 1.
It means thousands of households on 311 tariffs are now left paying around £695 a year more, on average.
Clem Atwood of Future Energy Associates, an energy analyst firm which provided The Sun with the figures, said: “We know that some customers really value certainty and stability in what they pay for their energy – but everyone should be aware that if prices continue to fall, customers on fixed deals could continue to be locked into higher prices for longer.”
“Customers should make up their own minds based on what matters most for them, and we expect suppliers to help explain the situation when offering these products.”
Customers wishing to exit a fixed energy tariff before its end date often face hefty exit fees which range between £50 and £400.
However, those on 57 of the deals can move to their supplier’s standard variable tariff for free – and can do that now.
Below we’ve listed the fixed tariffs from each energy supplier that are now higher than the price cap – and how to work out if you’d be better off switching.
The End Fuel Poverty Coalition has renewed calls on companies to waive exit fees so that all customers on expensive fixed deals can switch easily to the cheapest tariff available.
In some cases, if there is a fee, it could still be worth paying as you may still save overall.
If you’re struggling with energy costs you could ask your supplier to waive the fee, though there’s no obligation for them to do this.
Which British Gas tariffs are affected?
Customers on the following 49 British Gas tariffs are paying more than the average household on the standard variable tariff.
Only seven tariffs don’t charge an exit fee, so if you’re on one of these it’s likely worth moving.
£200 exit fee:
Exclusive Nov 23v1; 23v2Fixed Oct 23v1; Oct 23v4; Sep 23v1; Sep 23v2; Sep 23v4Green Future Oct23v1; Oct23v3Smart Aug24 v1; v9; Sep25 v1Smart Fixed v2; v3; Smart ;The Fixed One v23
£150 exit fee:
Complete Protection Jan 2024Green Future Jan 2024Fixed Oct24 v2; Oct24 v5HomeEnergy Secure Jan 2024Smart Oct24 v2; Oct24 v5The Exclusive One v11The Fixed One v15The Green One v15.
£100 exit fee:
Complete Protection Dec 2023Exclusive Energy Nov 2023; Oct 2023v3;Exclusive Fixed Energy v29Fixed Aug24 v7; Jun24Green Future Dec 2023HomeEnergy Secure Dec 2023Loyalty Jul24.
£80 exit fee:
Complete Protection Nov 2023Green Future Nov 2023v2HomeEnergy Secure Nov 2023v2Online Fixed Oct 2023v9.
No exit fee:
Electric Driver Exclusive Sep24Electric Driver Sep24Loyalty Jun24Smart PAYG Aug24 v1; Aug24 v2; Aug24 v3; Jun24.
Which Co-operative Energy tariffs are affected?
Only customers on one Co-operative Energy tariff are paying more than the average household on the standard variable tariff.
However, they don’t need to pay an exit fee if they choose to switch to one of the supplier’s default tariffs.
Those on the Co-op Loyal 24M Fixed November 2021 v1 tariff can switch to standard variable tariff for free.
Which E.ON Next tariffs are affected?
Customers on the following six E.ON Next tariffs are paying more than the average household on the standard variable tariff.
However, those on four of these tariffs don’t need to pay an exit fee if they choose to switch to one of the supplier’s default tariffs.
Those on the Next Fixed 24M V1 are charged a £300 exit fee to switch and those on the Next Fixed 12m V2 are charged £150 to switch.
But customers on the Next 2 Year v16; v10; v9; v8 are charged no exit fees to switch.
Which EDF Energy tariffs are affected?
Customers on the following 113 EDF Energy tariffs are paying more than the average household on the standard variable tariff.
They will also need to pay an exit fee between £0 and £400 if they choose to switch to one of the supplier’s default tariffs.
£400 exit fee:
EDF Essentials 3Yr Sep26v3; Sep26v4
£300 exit fee:
Fix Total Service Nov23; Nov23v2; Jan24; Jan24v4; Jan24v6; Jan24v7; Jan24v8; Jan24v10; Mar24v5; Apr24; Apr24v2; Apr24v4; Apr24v5; May24; May24v3; May24v4; Jun24v2; Jun24v3; Jun24v5; Jun24v6; Jul24v3; Jul24v4; Jul24v6; Jul24v7Easy Online+BoilerCareGold Mar24v4; May24v2; Jun24v2; Jun24v4GoElectric Feb24; Apr24; May24; May24v2; Jun24; Jun24v2; Jul24; Sep24; Nov23GoElectric Exclusive Jun24; Jul24
£200 exit fee:
Fix Total Service Jan24v12; Feb24; Feb24v2; Feb24v3; Feb24v4; Feb24v5; Mar24v2; Mar24v3; Mar24v4; May24v2; Jun24; Jun24v4; Jul24; Jul24v2; Jul24v5; Jul24v8; Aug24v2; Aug24v3; Aug24; Aug24v4; Sep24v5; Oct23; Oct23v2; Oct23v3Easy Online+BoilerCareGold Jan24; Feb24; Feb24v2; Feb24v3; Mar24; Mar24v2; Mar24v3; Apr24v2; Apr24v3; May24; Jun24; Jun24v3; Jul24; Jul24v2; Jul24v3; Jul24v4; Aug24; Aug24v2; Aug24v3; Aug24v4
£150 exit fee:
Fix Total Service Apr24v3Easy Online+BoilerCareGold Apr24EDF Essentials 1Yr Sep24; Sep24v2GoElectric Oct24Essentials Exclusive Jul24EDF Essentials Aug24; Sep24; Sep24v2; Oct24
£70 exit fee:
Easy Online + BoilerCareGold Feb24Total Service 3 Year Fix Oct24
£60 exit fee:
GoElectric Jan24
No exit fee:
More Together Apr24; Apr24v2; Apr24v3; Apr24v4; Aug25v2; Aug25v3EDF Essentials 3Yr Sep26; Sep26v2Engage Sep24; Sep24v2; Oct24; Oct24v2GoElectric Exclusive Jun24v2More Together Feb24; Feb24v2
Which 100Green tariffs are affected?
Customers on the following five 100Green (Green Energy UK) pay more than the average household on the standard variable tariff.
However, they don’t need to pay an exit fee if they choose to switch to one of the supplier’s default tariffs.
No exit fee:
EKO Energy v9 2023; V5; V6Sparkling 2023 V4; V5
Which Octopus Energy tariffs are affected?
Customers on the following Octopus Energy tariffs pay more than the average household on the standard variable tariff.
However, they don’t need to pay an exit fee if they choose to switch to one of the supplier’s default tariffs.
No exit fee:
Super Green Octopus 24M Fixed September 2021 v8Loyal Octopus 24M Fixed November 2021 v1
Which Ovo Energy tariffs are affected?
Customers on the following 25 Ovo Energy tariffs pay more than the average household on the standard variable tariff.
They will also need to pay an exit fee between £0 and £120 if they choose to switch to one of the supplier’s default tariffs.
£120 exit fee:
2 Year Fixed 23 August 2022; 19 August 2022; 17 August 2022;12 August 2022; 28 July 2022; 27 July 2022; 15 July 2022; 21 July 2022; 06 July 2022; 05 July 2022; 01 July 2022; 30 June 2022; 17 June 2022; 24 June 2022; 21 June 2022; 16 June 2022; 25 May 2022OVO 2 Year Fixed Energy 11 January 2022; 07 October 2021; 03 November 2021; 16 September 2021; 11 November 2021; 19 November 2021; 02 November 2021OVO 3 Year Fixed
No exit fee:
OVO 3 Year Fixed Energy 23 December 2021
Which Sainsbury’s Energy tariffs are affected?
Customers on the following three Sainsbury’s Energy tariffs pay more than the average household on the standard variable tariff.
However, they don’t need to pay an exit fee if they choose to switch to the supplier’s default tariffs.
No exit fee:
2 Year Fix and Reward v23; v27Sainsbury’s Energy 2 Year Fix and Reward v22
Which Scottish Power tariffs are affected?
Customers on the following 63 Scottish Power tariffs pay more than the average household on the standard variable tariff.
They will also need to pay an exit fee between £0 and £300 if they choose to switch to one of the supplier’s default tariffs.
£300 exit fee:
Help Beat Cancer Green Flexi SR October 2023 DM1 Online; CM1 OnlineHelp Beat Cancer Green Flexi October 2023 CM1; CM2Green Flexi October 2023 FM1Help Beat Cancer Green Flexi SR August 2024 DM1 Online; DM2 OnlineHelp Beat Cancer Green Flexi SR August 2024 DM1; DM2Help Beat Cancer Green Flexi August 2024 CM1 Online; CM2 OnlineHelp Beat Cancer Green Flexi August 2024; CM1Green Flexi August 2024 EM1; EM2
£200 exit fee:
Help Beat Cancer Green Fixed SR May 2024 CM3 Online; CM2 Online; DM2 Online; DM3 Online
Help Beat Cancer Green Fixed SR May 2024 CM2; CM3; DM2; DM3
Green Fixed May 2024 EM2; EM3
£60 exit fee:
Help Beat Cancer Fixed May 2024 CM1 OnlineHelp Beat Cancer Fixed May 2024 CM1Fixed Price April 2024 YM1 OnlineFixed Price April 2024 YM1; YE1Help Beat Cancer Green Fixed Price July 2024 YM1Help Beat Cancer Green Fixed Price July 2024 YM1 OnlineFixed Price January 2024 YM1 Online
Fixed Price January 2024 YM1Fixed Price December 2023 CH3Fixed Price January 2024 YE1; YE2Green Fixed December 2023; FH3; FM3Green Fixed Electric Vehicle May 2024Fixed Price August 2024 YM2 OnlineFixed Price August 2024 YM2
No exit fee:
Help Beat Cancer Green Fixed May 2024 CM1 OnlineHelp Beat Cancer Green Fixed May 2024 CM1Green Fixed Electric Vehicle May 2024 v2Green Fixed May 2024 EM1Help Beat Cancer Green Fixed SR February 2024 DM1 OnlineHelp Beat Cancer Green Fixed SR February 2024 DM1Help Beat Cancer Green Fixed December 2023 CH2; CH3; CM2; CM3Help Beat Cancer Green Fixed December 2023 CH2 Online; CH3 Online; CM2 OnlineGreen Fixed December 2023 EH3; EM3Help Beat Cancer Green Fixed February 2024 CM1 OnlineHelp Beat Cancer Green Fixed February 2024 CM1Green Fixed February 2024 EM1; EM2
Which Shell Energy tariffs are affected?
Customers on 16 Shell Energy tariffs pay more than the average household on the standard variable tariff.
They will also need to pay an exit fee between £0 and £150 if they choose to switch to one of the supplier’s default tariffs.
£150 exit fee:
EPG Energy July 2024, September 2023 v5Energy July 2024; v11Energy August 2024 v16Energy September 2024; v5Energy October 2024Energy November 2024 v2Energy November 2024 v2 Direct Debit ebillUnihomes Energy July 2024Go Further December 2023 plus Shop Voucher
£100 exit fee:
Go Further November 2024 plus Shop Voucher v2Energy September 2024 plus Fuel Rewards v3
£60 exit fee:
EPG Cap TrackerCap Tracker September 2023 v6.1
No exit fee:
Energy May 2024 – no exit fee
Which So Energy tariffs are affected?
Customers on the following 26 So Energy tariffs pay more than the average household on the standard variable tariff.
They will also need to pay an exit fee between £0 and £150 if they choose to switch to one of the supplier’s default tariffs.
£150 exit fee:
So Jasmine One YearSo Juniper One YearSo Lavender 12-monthSo Kiwi Collective 12 months (iChoosr)
£120 exit fee:
So Hibiscus Two YearSo Iris Two YearSo Hibiscus Two Year Green
£80 exit fee:
So Heather Two Year GreenSo Ginger Two Year GreenSo Gooseberry Two Year GreenSo Guava Two Year GreenSo Ginger Two YearSo Guava Two Year Earlybird GreenSo Gooseberry Two Year Loyalty GreenSo Geranium Two YearSo Grape Two Year GreenSo Grape Two Year Loyalty GreenSo Gooseberry Two YearSo Guava Two YearSo Fennel Two Year GreenSo Grape Two YearSo Daffodil Two Year GreenSo Elm Two Year Green
£60 exit fee:
So Coconut Two Year Green – £60 exit feeSo Cucumber Two Year Green – £60 exit fee
No exit fee:
So Flex Green
Which Utility Warehouse tariffs are affected?
Customers on the following seven Utility Warehouse tariffs pay more than the average household on the standard variable tariff.
However, they’ll have to pay a fee if they choose to switch to one of the supplier’s default tariffs.
£150 exit fee:
UW Fixed Saver 1; 2; 3; 4; 5UW Fixed 6
Should I leave my fix?
This depends on how much your unit rates and standing charges are – but you’ll also need to factor in any exit fees.
Since October 1, customers on the SVT, which is protected by Ofgem‘s price cap, have paid the following typical rates:
6.89p per kilowatt hour (p/kWh) for gas27.35p/kWh for electricityA standing charge of 29.62p per day for gasA standing charge of 53.37p per day for electricity
These are for people paying by direct debit, and can be slightly different if you pay another way, such as quarterly billing by bank transfer.
The price cap is expressed as an annual figure for a typical dual fuel bill – so currently £1,923 a year.
But the exact amount can vary depending on usage, so it’s the these unit costs which you need to compare.
If your rates and/or standing charges are more than this, it could be worth exiting your current fix.
You should be able to find the rate you fixed at on your most recent bill, online account, or by asking your supplier directly.
However, if you need to pay a hefty exit fee, you’ll need to take this number into account when working out any potential savings from ditching your fix.
How do I calculate my bill?
To calculate how much you pay on your current fix, you will need to find out both your unit rate for gas and electricity and the standing charge for each fuel type.
The unit rate will usually be shown on your bill in p/kWh.
The standing charge is a daily charge that is paid 365 days of the year – irrespective of whether or not you use any gas or electricity.
You will then need to note down your own annual energy usage from a previous bill.
Once you have these details you can work out your gas and electricity costs separately.
Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type – this will give you your usage costs.
You’ll then need to multiply each standing charge by 365 and add this figure to the totals for your usage – this will then give you your annual costs.
Divide this figure by 12 and you’ll be able to work out how much you should expect to pay each month over the period.