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.”