Today npower announced that it has introduced two new fixed-price plans: Online Price Fix June 2014 and Online Price Fix December 2014, which fix energy rates to an average cost of £1,184 a year and £1,256 a year, respectively.
These plans are in addition to the supplier’s Price Fix December 2015, which is the energy market’s longest fixed price tariff currently available, and completes npower’s Fixed Family of plans. The energy provider now has both the cheapest (Online Price Fix June 2014) and longest fixed price plans on the market.
npower’s cheapest fixed rate plan, the Online Price Fix June 2014, works out to £1,184 a year and costs only £38 more than cheapest overall plan currently available.
Their longest fixed price plan is £1,305 a year, and fixes rates until December 2015.
Switching to competitively priced energy
“With the possibility of price hikes later this year, these new tariffs from npower boost the current range of competitively priced fixed price plans and could help households take control of their energy bills,” stated Tom Lyon, energy expert at uSwitch.com.
“They offer consumers decent savings against standard tariffs, but with the added peace of mind of knowing that they are protected from price hikes for up to three winters.”
For those on the basic, standard-rate plan — often the most expensive plans suppliers offer — switching to a fixed plan is a no-brainer. Those who are a bit more energy-product savvy may prefer to shop around.
EDF’s Blue + Price Promise February 2015 is the second-cheapest fixed price plan now available, and locks rates in for eight months longer than npower’s cheapest.
Whichever route households choose — cheapest fixed or longest fixed — Lyon reminds consumers that taking action is better than waiting around for the next price increase:
“With such competitive fixed price options around, it makes sense for households to plan ahead and start shopping around now.”