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

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Fixed rate energy prices rising

Fixed rate energy prices rising

Category: Gas and electricity

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

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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 Energyhelpline.com.

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 Energyhelpline.com's director Mark Todd.

Cheapest fixed rate tariffs available now:

Supplier Tariff Average Cost Fixed Until Cancellation Penalties


OVO Energy

New Energy Fixed

£1,088

Prices fixed for 12 months

£30 per fuel until end of fix

First:Utility

iSave Fixed v4

£1,128

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

£30 per fuel cancellation penalty during fixed period.

ScottishPower

Online Fixed Price Energy April 2014

£1,140

Fixed until 31 March 2014

None


EDF

Blue +Price Promise May 2014

£1,143

Fixed until 1 May 2014

None






OVO Energy

Green Energy Fixed

£1,147

Prices fixed for 12 months

£30 per fuel until end of fix

e.on

Age UK 1 Year Fix

£1,148

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

None

e.on

1 Year Fix

£1,158

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 Any products featured may be withdrawn by their provider or changed at any time.

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