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Cheapest energy tariffs already being withdrawn

Mark Vickery
by Lovemoney Staff Mark Vickery on 21 March 2011  |  Comments 3 comments

The issues in the Middle East and Japan are having an effect on your energy bills.

Cheapest energy tariffs already being withdrawn

The crises in Japan and the Middle East are set to hit UK energy bills hard. Despite the fact that the events are occurring halfway around the world from us, the UK relies heavily on oil from the Middle East, so with the threat of supplies being cut off, wholesale prices have soared to record levels. And following the disaster in Japan, there are fears that gas supplies intended for the UK will be diverted to help the country recover.

We’ve already suffered record price hikes for our gas and electricity supplies this winter. More had already been forecast for later this year, but recent events are already setting the ball rolling, and our experts have predicted that we could see a rise of up to £170 on our yearly energy bill, on top of the record bills we were already facing.

So what can we do? The answer: act fast to grab a cheap tariff before suppliers bin them. The best way to avoid the ominous price rises is to apply for a fixed rate tariff whereby the price you pay can’t rise for a set period. However, suppliers know this means they can’t pass on the rising costs, and Atlantic Energy has already pulled the cheapest fixed tariff around, and others will quickly follow.

Here are the current cheapest tariffs, but beware: they won’t be around for long!

 

Supplier

Tariff

Annual cost

What you need to know

1

British Gas

Websaver 11

£895

Paperless billing. Cancellation fees apply.

2

EON

Save Online v5

£907

High service ratings. Manage your account online.

3

nPower

Sign On-Line 21

£916

Manage your account online. Paperless billing. Guaranteed discount on standard prices. Cancellation fees apply.

4

EDF

Online S@ver v9

£916

Paperless billing. Cancellation fees apply.

5

Scottish Power

Online Energy Saver 13

£916

Good service rating. Guaranteed discount until 31st October 2012. Cancellation fees apply. Paperless billing.

6

Scottish & Southern Energy

Price Fix 5 March 2012

£1,020

Lowest levels of complaints in industry. Highest service ratings. Paperless billing. Cancellations fees apply.

7

first:utility

iSave v7

£1,046

Paperless billing. Property owners only. Not available in Paisley, Perth, N. Scotland & Isle of Wight.

8

Ovo

New Energy Fixed

£1,050

Choice of paper or paperless billing. Prices fixed for 12 months. Cancellations fees apply. 15% green electricity. Not available in N. Scotland.

UK average across all regions: payment by monthly Direct Debit, dual fuel, based on standard usage figures as stated by Ofgem: 16,500kWh Gas and 3,300kWh Electricity usage

Compare energy tariffs at lovemoney.com

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Comments (3)

  • JOHN MAXWELL
    Love rating 56
    JOHN MAXWELL said

    i am with npower and after using a switching site i found i was not being charged on their best tariff for my usage. when i asked npower why they did not tell me i would be better off on a different tariff their answer was "we don't do that". why do energy companies not advise current customers of the best tariff available to them?

    Report on 21 March 2011  |  Love thisLove  0 loves
  • Mark Vickery
    Love rating 5
    Mark Vickery said

    @John Maxwell

    As energy companies are in the business of making money, they are hardly going to tell you that they have cheaper tariffs on offer.

    That why comparison services like this one exist I'm afraid.

    Report on 21 March 2011  |  Love thisLove  0 loves
  • Perry525
    Love rating 25
    Perry525 said

    Yesterday the Japanese bought 20 ship loads of LNG from Indonesia.

    These ships had been loaded and were waiting for customers.

    There is a world glut of LNG.

    The USA has so much of its own LNG now that prices have collapsed and they need to export LNG for the first time, just to get rid of it.

    Why does the UK press and the BBC keep telling us lies.

    Report on 21 March 2011  |  Love thisLove  0 loves

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