Fixed rate energy prices rising - Gas and electricity - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Fixed rate energy prices rising

Fixed rate energy prices rising

Category: Gas and electricity

Updated: 18/10/2012
First Published: 18/10/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Fixed rate tariffs are climbing in price following announcements that British Gas, Scottish Power and npower will be hiking charges this winter.

The cheapest fixed rate has now risen by £48 a year, from £1,040 to £1,088, whilst the cheapest fixed rate tariff that doesn't charge cancellation penalties has climbed £88 per year since the first supplier announced price hikes, according to research by

However, considering that a typical energy bill is set to rise to £1,380 a year, consumers can save up to £292 a year by switching to a fixed rate tariff.

British Gas was the first provider to announce average price increases of 6%, with npower following closely behind, announcing average increases of 8.9%. Yesterday Scottish Power announced price increases of 7%.

"This research shows that customers can beat the price rises by switching to a fixed rate energy tariff. But they need to act fast and switch today," said's director Mark Todd.

Cheapest fixed rate tariffs available now:

Supplier Tariff Average Cost Fixed Until Cancellation Penalties

OVO Energy

New Energy Fixed


Prices fixed for 12 months

£30 per fuel until end of fix


iSave Fixed v4


Prices fixed until 30th June 2014. Earliest go live date is 1st Jan

£30 per fuel cancellation penalty during fixed period.


Online Fixed Price Energy April 2014


Fixed until 31 March 2014



Blue +Price Promise May 2014


Fixed until 1 May 2014


OVO Energy

Green Energy Fixed


Prices fixed for 12 months

£30 per fuel until end of fix


Age UK 1 Year Fix


Prices fixed for 12 months
(only available to over 60s)



1 Year Fix


Prices fixed for 12 months

£10 until end of fix

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

4.8m people switched energy supplier last year

We’re often told of the amount we could save by switching energy supplier, and happily, the message seems to be getting through, with the number of consumers switching providers having reached record levels last year.

EDF cuts gas prices, but hikes electricity

EDF Energy has announced that it’s cutting gas prices for customers on its standard variable rate tariffs, but unfortunately, electricity customers could lose out, as they’ll see a rate increase from March next year.

The energy league table – are you on the best deal

Ofgem yesterday revealed its league table of energy prices, highlighting the cost of typical gas and electricity tariffs from the UK’s top suppliers. It shows just how expensive standard variable tariffs can be, and you could well be paying too much.