E.ON has launched a new fixed price energy plan which is the cheapest plan available from the big six energy suppliers.
The 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
|Supplier||Plan name||Fixed until||Average bill||Additional info|
|OVO Energy||New Energy fixed||12 months from going live||£993||Cancellation fee of £60 if you leave before 12 months|
|E.ON||FixOnline 9||1st March, 2012||£1,041||Cancellation fee of £30 dual fuel and £10 for electricity only (product unavailable for gas only)|
|npower||Price Fix 2012||31st December, 2011||£1,102||No cancellation fee|
|EDF Energy||Fixed S@ver||31st March, 2012||£1,076||£75 Welcome Bonus Cancellation fee of £50 for Dual Fuel customers|
|SSE||Price Fix 5 March 2012||31st March, 2012||£1,132||Exit 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|
|ScottishPower||Capped Price Energy December 2012||30th November, 2012||£1,150||Cancellation charges of £30 for electricity and £20 for gas may apply if you cancel the contract before 30th November 2012|
|British Gas||Price Promise October 2012||31st October, 2012||£1,184||Cancellation Fee of £50 per fuel|
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