Households can pocket £241 with one bill change before November

Households across the UK can pocket savings of £241 per year by making one energy bill switch before November, according to Uswitch.

The price comparison service says all households that picked a 12-month fix in October 2024 are now in their 'free to switch' window and can change suppliers without paying any exit fees. According to the experts, the average household coming to the end of their fixed deal could save around £241 per year compared with their supplier's standard variable tariff by switching to the cheapest fix. Households that don't switch by the end of their deal will see their energy bill soar by up to £202 annually if they don't act.

Uswitch is urging households to compare the tariffs available to them and use the 'free to switch window' to beat the autumn bill shock.

According to analysis by the price comparison and switching service, household energy bills are set to rise by £90 million by the end of October as 41 fixed deals come to an end.

It means impacted households could see their bills rise by up to £202 as they will automatically be moved onto their supplier's standard variable tariff if they don't switch to a new deal before November.

Nearly 374,000 households could avoid this bill increase and save around £241 by switching to a new fixed energy tariff before November.

Some 41 fixed deals from various large and small suppliers will finish by the end of October, after which households will automatically roll onto their provider's standard variable tariff which are effectively set by the price cap, making them some of the most expensive on the market.

The cheapest deal currently available for the average home with typical energy consumption is £1,514 from Outfox the Market. Households that switch to this would make a £241 annual saving compared to the October price cap which is rising to £1,755.

The cheapest fixed deal available this time last year cost £1,553 so households falling off this deal onto a standard tariff - costing £1,755 a year from October 1 - would immediately start paying £202 extra a year.

Households can switch 49 days before their deal ends without paying exit fees so Uswitch.com is urging consumers to check when their 'free to switch window' opens and switch to a fixed deal before November.

Will Owen, energy expert at Uswitch.com, said: "Households who signed up for a 12-month fix last autumn, or a 24-month deal in October 2023, should check when their switching window opens.

"Those whose tariff started around the end of October last year need to act quickly - as they can leave their current tariff up to 49 days before it ends without paying any exit fees. This is a particularly strong time for savings, with around 26 fixed deals currently available which beat the October cap and savings of around £241 on the market.

"If you're on a standard tariff, now is the time to protect yourself from the upcoming price rise. Run a comparison to see what deals are available to you and how much you could save. Fixing your energy tariff to cheaper rates should be a no-brainer for all households who are able to do so."