M&S launches cheapest energy deal on the market

The energy provider's revamped ‘Fix & Save’ plan is now the least expensive tariff available in the country

The new tariff will cost consumers £1,139 a year and is a fixed price contract which will end in September 2014. This means customers who switch to the tariff will not be affected by any price rises throughout the duration of the plan.

The contract includes a cancellation fee of £50 which would be charged to anyone looking to leave the plan ahead of its end date.

The new tariff is likely to positively impact sales following recent allegations that M&S Energy was mis-selling deals to customers.

‘The most competitive deal on the market’

Tom Lyon, energy expert at uSwitch.com, says: “With M&S Energy hitting the headlines for all the wrong reasons this week, it’s good to see it starting to return to its consumer-friendly form by giving its Fix & Save tariff a face-lift, making it the most competitive deal on the market.

“Consumers should think seriously about taking advantage of this plan which offers the best of both worlds. Not only is it the cheapest deal on the market – which will appeal to consumers looking to tighten their purse strings – but it is also fixed until the end of September 2014, so it comes with added peace of mind. However, any takers should be aware that there is a £50 cancellation fee attached.

“With hints of energy price rises this year, fixed price plans are an appealing option. And with many making it into the energy ‘best buy’ tables, consumers don’t need to pay a premium for this protection. As ever though, consumers should always compare prices based on their own circumstances and individual needs before signing on the dotted line – this way they can be confident of getting the best deal.”

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  • JA

    How does this compare to the Co-Op to which I’ve just switched?

    • peter

      Bad move. They have just put your prices up.Should have gone with M&s.

  • ZP

    I just switched last month to EDF Blue and it has a standing charge plus is 2p per Kw more expensive so I’m switching to the M&S one. Loads cheaper!

    • http://uswitch.com/ Dew Alam

      The M&S offer on our site is currently the cheapest energy deal on the market. Check it out- http://www.uswitch.com/gas-electricity/guides/cheapest-gas-and-electricity/

      • Stewart

        If I’m a sse customer can I still sign up to the m&s deal???

        • Michele Martinelli

          Hi Stewart,
          I believe you should still be able to switch although you need to get in touch with M&S Energy

  • keith Hanson

    Am I right in thinking the price is set no matter how much fuel you use?

    • http://uswitch.com/ Dew Alam

      Hi Keith, as the article states, the new tariff will cost consumers £1,139 a year and is a fixed price contract which will end in September 2014. This means customers who switch to the tariff will not be affected by any price rises throughout the duration of the plan.

    • Michele Martinelli

      Hi again Keith,
      The price is based on the cost per average user – consuming 3,300 kWh of electricity and 16,500 kWh of gas a year paying by monthly direct debit (averaged across all regions).

      Sorry for any confusion.

  • keith Hanson

    You still didn’t say it is regardless of usage the total price remain s the same

  • Dee

    I am moving house in next few months, can I just take this offer with me to a new property or will I have to cancel pay £50.00 and then start again with M & S

    • Michele Martinelli

      Hi Dee,
      According to the plan’s terms and conditions:
      “If you leave the Address to which the Fix & Save tariff applies you will usually be able to transfer the tariff to another property.”

      So it shouldn’t be a problem.

      • ding dong

        Better idea,
        Transfer the address to the next door neighbour and he will be lumbered with the bill.

  • G.Litten

    I am with nPower, Do other companies including M&S honour “Feed-in Tariff payments”?

    • Michele Martinelli

      If you is already registered for FITs with SSE and sign up for a M&S Energy tariff, then SSE will continue to honour your FIT agreement.

      If you are not with SSE for your FITs and want to change to M&S Energy for your energy and FITs, then you will need to complete your energy switch first with M&S energy and then contact the FIT Bureau on 0845 076 7634 to arrange to move your FITs to SSE from your current FIT supplier.

      Hope that makes sense!

  • IB

    We want clear pricing.Not gobbledegook .e.g total price per unit including all their add on;s

    • Michele Martinelli

      Hello IB,
      Total price per unit varies depending on your postcode. If you send an email with this information to michele.martinelli@uswitch.com I can let you know.

  • jonarmitage

    Dew Alam is at best disingenuous and at worst, legally , arguably fraudulent. U-Switch can no longer be trusted as a website its’ priorities being so biased in favour of the advertiser ( as opposed to the consumer) as to render its’ recommendations meaningless.
    JA

  • jc

    Which company is behind M&S Energy, i.e. who is actually supplying the energy??
    ?

  • ellie

    How does it compare with british gas

    • Michele Martinelli

      Hi Ellie,

      This really depends on your personal circumstances. the easiest way to find out which plan is best for you is to run a comparison – http://www.uswitch.com/gas-electricity/

  • Donna

    How do I switch :)

  • mick

    I used 24181 kWh Gas and 4523 kWh electricity last year. Will I be able to join this plan @ £1139.00

    • Michele Martinelli

      Hi Mick,
      The average bill size is based on the average usage of 16500kwh/pa gas and 3300kwh/pa electricity. Your usage is higher than this so your bill size will be different. Prices also depend on your postcode so I would suggest running a quick comparison here – http://www.uswitch.com/gas-electricity/ – to find out what plan is best suited to your needs.

  • J Lewis

    We have been with M & S energy since they first went in to the stores asking for people to switch from SSE. Do we qualify for this fixed price

    • Michele Martinelli

      Hi J Lewis,
      You are eligible, however, you would have to apply directly through M&S energy.

  • IB

    if it is such a good deal why the £50 fine for early exit ,customers would not leave a good deal

  • Neil S

    Currently I am using about 7000kWh of Electricity and 15000 kWh pa of gas for which I am paying £145 pcm. (£1740pa). with Southern Electric. I have been on uSwitch in the past and could save at most less than £200 by switching. Surely I cannot switch to paying only £1139 – the £600 difference (hopefully less) must be recovered somehow?! A lump sum payment? Also I have just revisited USwitch and this M&S deal does not appear?

    • Michele Martinelli

      Hi Neil,

      Afraid I can’t answer this without knowing your postcode. Easiest way to find out how much you can save is to run a price comparison – http://www.uswitch.com/gas-electricity/

      For the most accurate results you should do this armed with a copy of your latest bill.

  • DC

    As IB said lets have the actual tariffs ie pence /kilowatt and standing charge per day and if the rate is held for the term of the contract. Show us you are not really in collusion with the suppliers.
    I want the tariffs for Economy 7 or equivalent for the Eastern Region. Never mind the wine or the hype people. Don’t sign up for this unless you get the actual tariffs and do the calculation on your existing bill or future offered tariffs.
    DC

    • Michele Martinelli

      Hi DC,

      The rates for your household will be displayed when you run a price comparison here – http://www.uswitch.com/gas-electricity/

      M&S Fix and Save rates for eastern region economy 7 electricity are:

      Unit price(pence per kWh)
      First 2464 kWh
      12.440p
      13.062p incl. VAT

      Remaining 3012 kWh
      5.860p
      6.153p incl. VAT

      Standing charge
      £80.01
      £84.01 incl. VAT

  • Bertie

    How does this compare with Blue as I fixed until 2014?

  • L. T.

    Only energy prices are fixed until Sept 2014 but Standing Charge is not fixed and can go up at anytime. Is it still worth changing?

    • Michele Martinelli

      Hi L.T.
      The Standing Charge on this plan is fixed.

  • Gail T

    I take it this includes both the gas and electric.

    • Michele Martinelli

      Hi Gail,
      You are correct – the plan covers both.

  • Dave Robins

    I signed up with USWITCH for a gas/electric contract with M&S Energy at a very good price, but the contract supplied by M&S Energy came back at a far higher cost to what USWITCH advertised, so beware.

  • Jennie

    I have just seen on U.Switch news, there is E.D.F. fixed price unti 2016, but I can’t find anything abot it anywhere else. at the moment My plan with E.D.F. finishes September,

  • TP

    what are their rates for Dual fuel supply, on this much talked about plan? I cannot find it here?

    • Michele Martinelli

      Hi TP,
      The plan coves gas and electric.

  • Gas and Electric Legend

    This is not strictly true… Scottish Power are very similar in price and don’t have a cancel fee…. you apply the cancel fee and SP would be cheaper… WHY CANCEL FEES????? not confident in the rates???????

  • David

    I’m with Atlantic, they seem pretty cheap, is this better?

    • Michele Martinelli

      Hi David,
      This plan is the cheapest on average so may not actually work out as the cheapest for you. The best way to get an accurate overview of the market is to run a price comparison here – http://www.uswitch.com/gas-electricity/.

  • Lynne

    Just swithched from Eon and saved £250 per annum, thanks for the tip to monitor the end date so we don’t roll over onto a higher rate :)

    • Michele Martinelli

      Hi Lynne – delighted we were able to help!

  • terence

    im moving flat and my new one as econ 7. wich is the best electric company to go for

  • Little Bill

    If the quality of their energy is anything like their underpants then stay well clear.
    My latest Y fronts began to sag alarmingly at the back after only a couple of wears.
    You have been warned!

  • neartic

    what gets me they are making all this money the price rise and they make a standing charge the government should outlaw this my standing charge is allways more than my bill

    • Larfingboy

      I’m with Southern Electricity and suffer from pay as you go meters. They have now changed the way we pay and the standing charge has been introduced at £100 per fuel “to make our pricing structure clearer”. As a low user, this means the advertised 8.2% increase is more like 33% for me.

  • Mark Mcnicholas

    Why can’t the UK leave all of these “green” agreements, open up open caste coal mines and burn coal in well filtered power stations. We could manufacture gas as well. I am sure greater efficiency (like ground source heat pumps, or local or home solar cells) added to the exploitation of our natural resources like coal, with all this green tax nonsense abolished would see a drop of 50% in bills before 2020. You know it makes sense.

  • Susie Q

    Is there an Energy Company which gives an allowance for having to use more electricity due to medical conditions, i.e. having to use a CPAP machine every single night (otherwise my husband would stop breathing).?

    • SeeNHearAllEvil

      I would be surprised if there was a company that gave such an allowance given that they are only in it for profit. Companies don’t give discounts unless they get something out of it e.g. holiday companies and restaurants sometimes have kids go free deals because it’s worth paying a little subsidy when they are about to make a huge profit out of the family. They only ever use subsidies as an enticement to get more out of people e.g. laughably small discounts for pensioners visiting tourist or cultural sights. A few trendy clothes shops and cinemas give tiny discounts to students because they know they’ll get more out them that way than not having their custom at all, especially when they know young people are usually very interested in clothes and have less experience comparing prices and value. There are never any subsidies for unemployed or sick because companies don’t see themselves getting anything out of them in the short or long term. The best you could hope for with an energy company is that they have a two tier system where the first few units consumption is very high but anything over that is very cheap so the more you use the better value you get, but as it’s all so expensive these days, whatever you do is going to be poor value. The government should give people with extra fuel needs an allowance for this. They used to have this a long time ago but did away with it. It sounds as though your husband would at least be eligible for so-called Personal Independence Payments or PIP, the replacement for DLA. I hope at least he’s claiming PIP as it sounds as though he would be eligible for high rate.

  • susieq

    The government are making extra revenue on all these price hikes from the vat on the increases. Domestic energy should be vat free. it is as vital as food to the vulnerable in our society. Why is no one raising this with the government,

  • Brian

    I seem to remember some time ago there was a huge outcry about standing charges being levied by the utility companies and, as a result, they were dropped. Now they are once again being levied which can add a considerable amount to one’s bills. Why is this being allowed to happen? Will no-one look after the consumers’ interests?

  • Sharon Calladine

    the price rises in energy prices was down to the tory goverment every year they would raise the energy componays green taxes and the energy comps would pass that rise in taxes to us the public then the torys would raise the energy componys taxes the next year then the big 6 would put that tax rise on to the publics energy bill again and so on and so on it shouldent have been allowed if there was more transparency between customers and the energy comps it would never have gone this far the tory goverment should have been more transparent to hiding huge tax rises on energy seems like the torys were in cahoots with the energy companys on highering the energy prices so they would both benefit out of a rigged marktet

  • Ian Speirs

    Just did price comparison and M&S was dearest!!!

  • Steve Bateman

    But how long will it be the cheapest for??

    • Michele Martinelli

      Hi Steve,
      I’m afraid it’s been withdrawn from the market – you can find the cheapest plan for you by entering your postcode here – http://www.uswitch.com/gas-electricity/

  • John Spencer

    I joined first utilitys from British gas and npower first time I have switched been with these two for forty years I saved £240 with direct debit and monthly readings.

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