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Energy suppliers fight to offer best deals

With a raft of fixed price contracts coming to an end and rumours of impending price rises, energy suppliers have launched a number of new fixed price plans

As winter nears, competition among energy suppliers intensifies

Consumers on one of the eight popular plans ending in September will face bill rises of up to £200 per year, if they fail to select a new tariff.

On the plus side, consumers will be pleased to know that a large number of competitively priced long, medium and short term plans have been launched by energy suppliers looking to attract customers.

Energy tariffs coming to an end in September

The most popular plans coming to an end this month are EDF Energy’s Blue + Price Promise September 2013 and First Utility’s iSave Fixed v2 September 2013.

The table below shows the plans are ending this month:

Plans ending

 Date prices are fixed till

Estimated bill increase*

Sainsbury’s Energy – Online Variable September 2013

29.09.2013

£133

EDF Energy – Blue + Price Promise September 2013

30.09.2013

£197

EDF Energy – Blue + Price Promise September 2013 Gas Carbon Offset

30.09.2013

£173

EDF Energy – Fixed Price 2013

30.09.2013

£232

First Utility – iSave Fixed v2 September 2013

30.09.2013

£203

ScottishPower – Discounted Energy October 2013 v2

30.09.2013

£87

ScottishPower – Platinum Fixed Energy October 2013 Online v5

30.09.2013

-£68

ScottishPower – Platinum Fixed Energy October 2013 v5

30.09.2013

-£84

*Prices are for dual fuel monthly direct debit for a medium size user

Newly launched plans

Customers looking to switch to a long term fixed price tariff can consider npower’s new Price Protector March 2017 plan, which is currently the longest on the market and has no cancellation fee.

A medium term solution for consumers could be First Utility’s iSave Fixed v10 tariff, which will cost the average consumer £1,274 per year and has a £30 per fuel cancellation fee.

A more short term option is M&S Energy’s Fix and Save deal, which is the cheapest option available today and has a cancellation fee of £50.

The below table gives a snapshot of some of the deals available:

Supplier

Plan Name

Date prices are fixed to

Average bill

Additional Info

M&S Energy

Fix & Save

30.09.2014

£1,139

£50 Cancellation fee

npower

Online Price Fix November 2014

30.11.2014

£1,182

No cancellation fee

First Utility

iSave Fixed v10

31.01.2016

£1,274

£30 Per Fuel Cancellation Fee

npower

Price Protector March 2017

31.03.2017

£1,341

No cancellation fee

EDF Energy

Blue+Price Freeeeze November 2016

30.11.2016

£1,350

No cancellation fee

ScottishPower

Help Beat Cancer Fixed Price Energy Online January 2017

31.12.2016

£1,350

£25 Per Fuel Cancellation fee

Suppliers ‘falling over themselves to offer the most competitive fixed price deals’

Tom Lyon, energy expert at uSwitch.com, said: “As a number of fixed deals come to an end this month, many of those who have enjoyed the peace of mind from stable prices could see their bills rocket – by as much as £200. But for those worried about coming back down to earth with a bump, the fact that suppliers are falling over themselves to offer the most competitive fixed price deals, should bring some comfort.Suppliers ‘falling over themselves to offer the most competitive fixed price deals’

“And the even better news is that opting for a fixed price energy plan doesn’t have to cost more. The cheapest deal on the market, M&S Energy’s Fix and Save tariff is also a fixed plan – giving consumers the best of both worlds. While for those worried about the long-term forecast for their household finances, npower this week launched Price Protector March 2017, which gives concerned consumers almost two and a half years of protection – for less than the average standard plan bill.

“But it’s not just the time for those coming to the end of their deal to consider their options – with winter looming and rumours of price rises not dying down, many households will be worried about their bills. Now is the time to shop around and find a cheaper plan before the temperature falls. For some, one of the newest competitive fixed deals may be ideal and ensure they avoid being left out in the cold.”

Read more

As energy bills look set to rise, is now the time to fix?

M&S Energy’s new plan riding wave of popularity

  • Andy

    It’s time the energy companies clearly show consumers exactly what their energy is going to cost, by itemising the unit rate per KWH and a y other monthly fixed fees.

  • peter

    Wooo, just looked at the picture of the Boxing gloves and thought this might be an article on Hemorrhoids.

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