npower launches new cheap fixed energy tariff

The energy giant has unveiled a new tariff which will fix prices until January 2016.

Energy giant npower has launched a new tariff that fixes costs until January 2016.

The Online Price Fix January 2016 replaces npower’s previous best short-term fixed tariff, which ran until November 2015.

The tariff has an average cost of £968 a year for a dual fuel customer and there are no early exit fees, so you can leave at any time for a better deal elsewhere.

However, there is a daily standing charge. This is discounted by £40 a year on electricity and £50 on gas, or £90 for dual fuel, over the first year by paying with direct debit. Note that you have to pay for this tariff by direct debit and manage your account online.

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How it compares

Here’s how this new tariff compares to the other leading fixed tariffs on the market right now.

*Based on usage of 3,200kWh of electric per year and 13,500kWh of gas per year. Shows average price across all regions. Assumes payment is made by monthly direct debit. Table only shows tariffs which are generally available across most of the UK.

As you can see, the new npower tariff slots into third place overall, based on average energy usage. However, again based on average usage, it could actually be cheaper than First Utility for people living in the Manweb (Merseyside and North Wales and Norweb (North West) regions.

That's why it's so important to shop around for the best tariff for you using an Ofgem-accredited energy price comparison service such as the one right here on lovemoney.com.

See if you can switch and save on your energy bills

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