E.ON Launch Cheapest Fixed Price Energy Plan

E.ON has launched a new fixed price energy plan which is the cheapest plan available from the big six energy suppliers.

Fixed price energy planThe new plan, E.ON FixOnline 9, fixes energy prices until 1 March 2012, offering customers a guaranteed energy price for 16 months.

As Emma Bush, energy expert at uSwitch.com says “With energy suppliers serving customers up with an inflation-busting pre-Christmas price hike, many households will be tempted to sign up to a fixed price energy plan to protect their budgets over the months ahead.”

Customers though need to think carefully and make sure they get the best energy plan to suit their needs as whilst a fixed price plan gives peace of mind, as Emma adds “this peace of mind can come at a premium with fixed price plans averaging out at £104 or 11% more than the average online plan, as well as carrying early exit penalties.

As ever, the key thing for consumers is to compare the different plans carefully before signing up and to understand what protection you are getting and for how long.”

According to uSwitch.com the fixed price best buy table is currently

SupplierPlan nameFixed untilAverage bill Additional info
OVO EnergyNew Energy fixed12 months from going live£993Cancellation fee of £60 if you leave before 12 months
E.ONFixOnline 91st March, 2012£1,041Cancellation fee of £30 dual fuel and £10 for electricity only (product unavailable for gas only)
npowerPrice Fix 201231st December, 2011£1,102No cancellation fee
EDF EnergyFixed S@ver31st March, 2012£1,076£75 Welcome Bonus Cancellation fee of £50 for Dual Fuel customers
SSEPrice Fix 5 March 201231st March, 2012£1,132Exit fee of £75 if the customer leaves before 30 April 2011. If the customer leaves at any time on or after 1 May 2011 an exit fee of £35 will apply
ScottishPowerCapped Price Energy December 201230th November, 2012£1,150Cancellation charges of £30 for electricity and £20 for gas may apply if you cancel the contract before 30th November 2012
British GasPrice Promise October 201231st October, 2012£1,184Cancellation Fee of £50 per fuel
Average£1,097

Average bill size for a medium user profile consuming 3,300kWh of electricity and 20,500 kWh of gas per annum, paying by fixed monthly direct debit.

All bill sizes averaged across all available regions. The table only looks at the cheapest fixed price plan available from each supplier and not all fixed price plans.

For those who are happy to look outside of the major energy suppliers, there are other plans that also offer a competitive alternative.

The cheapest fixed price plan is OVO’s New Energy Fixed plan which offers 12 months protection from the date of the plan going live. This comes in at £993 a year – £48 a year less than the E.ON plan at £1,041 a year. However, the protection on the OVO plan lasts 12 months against E.ON’s 16 months

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