Switch to fixed tariff and get £60 cashback

by Mark Vickery on 21 June 2011  |  2 comments
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ScottishPower has sparked a frenzy of energy switching with their price rise announcement as customers race to fix their rates before more price rises. But you can earn cashback by fixing now!

The energy industry has seen a 400% rise in people switching to cheaper energy contracts since the supplier’s announcement on 7th June of a 19% gas and 10% electricity hike.

Suppliers have launched new tariffs to attract customers in the wake of the announcement, and we are offering a three-day exclusive cashback deal of £60 for any gas and electricity switch to ScottishPower until Friday (24th June). Although their prices are set to rise, they have several good fixed tariffs whose prices will not be affected.

Price rises tend to come in waves. This means that ScottishPower may have opened the floodgates for a new round of price rises of anywhere up to 25%, with other suppliers already hinting. Customers were already being urged to switch to a fixed rate deal, and the call is ever more pressing as the next supplier announcement could be any day now. Although millions of consumers are taking action, millions more are still sat on standard rates that just get more and more expensive.

But it’s not just standard rates that customers have to watch out for: even cheap online deals generally have a one-year guaranteed discount but after that, prices can go up as far as 1% below standard rates, so it’s essential to check your bill carefully. The quickest way to check you’re not paying over the odds is to enter your plan name into a comparison tool.

*Based on typical tariff costing £1,150 p.a. Based on Dual Fuel, payment by monthly Direct Debit, average usage as set by Ofgem. Prices correct as of 20th June 2011.

** Offer ends midnight Thursday 23rd June.