Half a million households ‘could face price hike of £114’ as deals come to an end

New analysis suggests this could collectively cost UK households more than £57 million a year compared to their current energy costs

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Half a million households could face an average price hike of £114 on their energy bills during the next three months.

That’s according to new research by CompareTheMarket, which highlights how in October, November and December, a total of 213 fixed energy tariffs will come to an end.

It warns consumers risk being automatically switched onto expensive default tariffs in the fourth quarter of 2019 if they do not manually change deal or supplier as their tariff concludes – the analysis reveals this could collectively cost UK households more than £57 million a year compared to their current energy costs.

Peter Earl, Head of Energy at CompareTheMarket, said: “Despite the government’s introduction of a price cap on default tariffs, the best way to save money on your energy is still switching tariffs or providers when your current tariff comes to an end.”