Take advantage of the energy price war

Published:
24 July 2009
Topic:
News,Gas & Electricity

Having offered the cheapest energy tariff for a number of months, British Gas has been toppled off the top spot following a spate of price cuts in recent days.

Scottish Power, npower and EDF Energy have all launched new, cheaper deals and EDF's new Online V 5 is now the best tariff for the average household - £982 a year, compared with £1,018 for the previous market leader which was British Gas Websaver 3.

This flurry of activity comes at a great time because thousands of households who signed up to fixed deals last summer, are coming to the end of their terms. For example, customers who signed up for npower's One deal will see their fixed term end on Friday (31 July 2009). Unless they switch to another tariff, they may move on to npower's standard rates which could cost an extra £147 to £210 a year depending on your payment method.

Should you fix again?

This time last year, gas and electricity prices were rising, which is why so many people opted for fixed rate tariffs. However, with energy costs now falling, the need to fix isn't as great - and certainly, the best value products are online variable deals as highlighted above.

Savings for most

It's not just those who are coming to the end of a fixed term product who could save by switching their energy deal. If you are currently paying your provider's standard tariff, you could slash your annual bill by an average of £250 by moving on to EDF's Online V 5.
 
The EDF product is only available for a limited time however, so you'll need to act quickly if you want to benefit. It's also worth noting that while this is the cheapest deal for the average household, another product may offer better value for your circumstances - it all depends on where you live and how much gas and electricity you consume.

It's easy to find the best deal for your circumstances: input your postcode and details of your existing gas and electricity bills into our comparison tool. It will identify the best value tariff in a matter of minutes.

For more information on the switching process watch our video 'How to switch your energy provider'.

If you need help with the switching process, call our support team on 0845 345 1296.

Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing.

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