Today, npower launched a new fixed price energy plan to the market, npower Price Fix September 2016. The introduction of the plan that fixes energy rates for customers for more than three years beats the previous longest fixed price plan from ScottishPower by eight months.
The new plan from npower costs the medium user £1,317 a year and is £16 more than ScottishPower’s Fixed Price Energy February 2016.
This marks yet another blow in the battle of the big six to offer the cheapest and/or longest fixed price plans on the market. Here’s a quick blow-by-blow:
March 15: npower introduces the longest fixed price plan to the market, the Price Fix December 2015.
April 24: npower introduces a ‘family’ of fixed price plans, which included, at the time, the cheapest fixed price plan on the market, Online Price Fix June 2014. At this time, npower were offering both the longest and cheapest fixed price plans on the market.
April 25: Just one day later, ScottishPower announces it has launched Fixed Price Energy February 2016, beating npower out for longest fixed price plan currently available.
May 10: npower hits back, with an energy plan that fixes rates until 30 September, 2016, and carries no cancellation fees.
This plan war is good news for consumers, says Tom Lyon, energy expert at uSwitch.com:
“It looks like suppliers are on the verge of an all-out fixed price war and this spells good news for consumers looking for shelter from potential price hikes. npower’s new plan is a double whammy as it not only offers the longest price protection on the market, but it also doesn’t carry any early exit penalties. This will definitely give rivals a bloody nose and lowers the risk to consumers of locking in for such a long time.