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New energy tariff to help fight threat of highest ever energy bills

Matt Ridout
by Lovemoney Staff Matt Ridout on 30 November 2012  |  Comments 2 comments

With the threat of one of the coldest winters on record, there are fears that we may be about to see the highest ever energy bills. But one new fixed tariff can help you avoid paying through the nose.

New energy tariff to help fight threat of highest ever energy bills

News outlets are reporting that this winter could be among the coldest on record. If forecasts are correct, the impact on domestic energy bills will be dramatic, our research has shown.

 If temperatures average 1C across the UK this winter (about 4C below normal temperatures) then a typical gas and electricity bill will be £607 for the three months of December to February. This will be the highest in UK history. In these circumstances, the total energy bill for all UK households for the winter would be £15.7 billon.

The forecasts may not come to pass, however it is prudent for all households to plan for all possibilities. This includes ensuring you have proper insulation, checking for draughts and using excluders where necessary and comparing your current supplier to make sure that you aren’t paying over the odds for your energy when you are using it the most to heat your home.

New fixed tariff from EDF

EDF has announced the launch of a new fixed tariff, Blue+ Price Promise June 2014 tariff. Prices on this tariff are fixed until 30th June 2014. There are no cancelation fees or penalties for this tariff should you wish to switch prior to the end of the fixed date. The tariff costs £1,182 annually for the average dual fuel household, which is £210 cheaper than the national average of £1,392 a year.

It is currently the second cheapest fixed tariff on the market, but is the cheapest fixed tariff to not carry cancelation charges.

Cheapest energy tariffs

Supplier

Tariff

Average Cost

Average Saving*

Notes

first:utility

iSave v12

£1,054

£338

Initially fixed for 3 months.

Sainsburys Energy

Price Check January 2014

£1,124

£268

Matches the cheapest standard Dual fuel direct debit tariff prices of the major suppliers at average consumption.

E.ON

Energy Discount

£1,124

£268

3% discount against standard prices for 12 months

Co-op Energy

Pioneer

£1,157

£235

Includes recent price drop

e.on

Standard

£1,160

£232

Price freeze till 1st Jan 2013

npower

Energy Online April 2014

£1,168

£224

 

OVO Energy

New Energy Fixed

£1,172

£220

Prices fixed for 12 months

EDF

Blue+ Price Promise June 2014

£1,182

£210

Prices fixed until June 30, 2014. No cancelation fees.

BG

Online Variable November 2013

£1,193

£199

 

M&S Energy

Fixed Price 2

£1,200

£192

Prices fixed until 28 Feb 2014.

* against typical bill of £1,392 per year as estimated by Energyhelpline. All costs are for a yearly average usage dual fuel household paying by monthly direct debit. Average usage defined by Ofgem as 16,500 kWh p.a. of gas and 3,300 kWh p.a. of electricity.

Compare energy tariffs with Lovemoney

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Comments (2)

  • Tes
    Love rating 5
    Tes said

    The point that keeps being missed is that whoever happens to have the cheapest tariff, the cost is still far too prohibitive for too many people to be able to keep adequately warm.

    Swap tariff, we're told - but if a provider can save you £50 a year but the exit charges levied by your current provider are £30 a fuel, then what?

    You're forced to pay £50 a year more than you otherwise would have to because of these charges. 'Competition' is therefore being stifled.

    The companies have been bringing out new tariffs with increasing regularity over the last few years, each one more expensive than the last - stealth rises.

    Have both the governments (it's not just the current one) and 'regulator' both missed this, or do they have their own reasons for 'conveniently overlooking' it?

    Have any of the real problems been addressed in the energy bill? Insullation is apparently the answer according to Ed Davey, but it's very hard to retro-insulate and so many people who have the biggest need for help have so far been excluded from any of the schemes yet still get to pay for them through their bills.

    The way the governments and regulator have treated energy over the last few years you'd think it was a luxury item you can choose to buy, or not, rather than an 'essential life service'.

    Report on 03 December 2012  |  Love thisLove  1 love
  • publicspirit
    Love rating 57
    publicspirit said

    We all know that energy in the UK is grossly over-priced. This of course goes back to Ed Miliband's Climate Change Act which government then predicted would cost us, the UK energy consumers, £732 billion over forty years.

    http://www.telegraph.co.uk/comment/columnists/christopherbooker/7550164/Climate-Change-Act-has-the-biggest-ever-bill.html

    “One of the best-kept secrets of British politics – although it is there for all to see on a Government website – is the cost of what is by far the most expensive piece of legislation ever put through Parliament. Every year between 2008 and 2050, according to Ed Miliband's Department for Energy and Climate Change (DECC), the Climate Change Act is to cost us all up to £18.3 billion – £760 for every household in the country – as we reduce our carbon emissions by 80 per cent.”

    £18.3 Billion per annum for 40 years = £732 Billion and this is not getting any less due to grossly inflated ROC subsidies for intermittent wind farms and FiTs for solar roof-spoilers.

    Let's get fracking for our UK shale gas and cut our energyy bills with new CCGT power plant like the USA. However many wind turbines we erect, they cannot be expected to produce when there is no wind anymore than solar pv can produce at night or when the weather is overcast. For "green energy" read 'subsidy sucker.'

    Time to wake up and look to new politics to get away from the LibLabCon if we want to drop this climate change fiasco and see our energy bills drastically reduced.

    Report on 04 December 2012  |  Love thisLove  4 loves

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