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Cheap energy deals disappearing

Marghaid Howie
by Lovemoney Staff Marghaid Howie on 30 September 2011  |  Comments 2 comments

With npower’s price rise kicking in tomorrow, even more households will be under pressure from their energy bills, and the cheapest deals are dwindling...

Cheap energy deals disappearing

As energy prices continue to rise, more of the cheapest deals are disappearing, generally to be replaced by more expensive versions. EDF’s Fixed S@ver tariff had attracted thousands of customers this summer, as it was not only the cheapest fixed tariff for several months, but also one of the cheapest deals on the market on average.

There are still some cheap fixes around, but now that all of the suppliers have shown their hand, some customers may be better off on a cheap online tariff, depending on electricity and/or gas usage.

Four of the price rises have come into effect, with npower’s adding approximately £135 to their average bill. The lovemoney,com comparison tool shows all tariff rates as they stand after any announced price rises, even if they haven’t yet come into force, like EDF’s. This makes it easy to compare bills in time for the winter without the worry that your new prices will go up a few weeks later.

Here are the 10 cheapest tariffs as of today:-

Supplier

Tariff

Cost

Typical Saving*

Notes

ScottishPower

Online Energy Saver 15

£990

£310

 

ScottishPower

Online Fixed Price Energy Dec 2012

£1,015

£285

Fixed until 30th Nov 2012

EDF

Energy Discount Plan v5

£1,024

£276

Guaranteed discount of 2.5% on EDF's standard prices until end of 2012

first:utility

iSave 8

£1,032

£268

 

Ovo

New Energy Fixed

£1,050

£250

Fixed for 12 months

npower

Sign Online 24

£1,050

£250

 

EDF

Fix for 2012

£1,051

£249

Fixed until end of 2012

npower

Go Fix 8

£1,087

£213

Fixed until 3rd Feb 2013

EON

Save Online 10

£1,097

£203

 

British Gas

WebSaver 13

£1,099

£201

 

* Against a typical bill of £1,300 after this round of price rises. Figures based on average usage as set by Ofgem for a dual fuel bill paid by monthly direct debit

Compare energy tariffs for your home

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Comments (2)

  • Qexit
    Love rating 2
    Qexit said

    You might want to take a look at the mess that has been created for people in Fuel Poverty in recent months. The Social Tariff deals that were put in place by the previous government have been replaced by a new Warm Home Discount. Unfortunately, this new scheme has been split into a compulsory section and a voluntary section. The Coalition will be able to highlight how good they have been to ensure that a particularly vunerable group will get the WHD benefit automatically without any forms to fill out. Unfortunately, the WHD takes the form of a rebate at the end of the year so the people affected will still struggle to pay their monthly bills as these wont be reduced. Also, they're based on the companies standard tariffs so they are high to start with.

    People in the Wider Group have to wait for the individual companies to decide on the terms that are accepted by OFGEN before they can even apply for a rebate. So far, only British Gas and SSE have reached agreements. British Gas has the best terms but still costs a fortune while SSE have settled on terms that will make it almost impossible for people to qualify purely on the basis of having a low income.

    To make ends meet, people on the old schemes will have to look around for the best regular tariffs and then hope that they don't have to pay high exit fees to transfer to WHD schemes when they finally become available. Even then, the £120 a year rebate will still be small compared with the increase they are facing by moving off the previous Social Tariff schemes. In the meantime, the companies are laughing all the way to the bank as they will be able to generate extra revenue from the money they receive from their customers which will reduce the effective/real value of the money they hand back as rebates at the end of the year.

    Report on 30 September 2011  |  Love thisLove  0 loves
  • sTudorSolar
    Love rating 1
    sTudorSolar said

    How to smash your energy bills

    The cost of electricity is going up every year. One of the reason for this is higher cost of importing natural resources such as coal and gas from other countries. Many people decided to install Solar Panels System because they can then sell electricity back to the grid (Your electricity providers) with 25 years of FIT's Guaranteed by the UK Government which are also index linked.

    Electricity wont get any cheaper. Be prepared for future increases. If you want to find out more about Solar Panels investment/savings and incomes from installation of your choice go to: http://www.tudorsolar.com Click on on-line calculator.

    Get these heartless electricity providers of your back.

    Thank you for reading and enjoy your savings.

    Report on 06 October 2011  |  Love thisLove  0 loves

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