Is It Time To Get a Fixed Price Energy Plan?
Published: 3 September 2012 By Peter Thompson Leave a Comment
As the EDF Energy Blue + Price Promise April 2014 is taken off the market, consumers have a limited number of options if they’re looking for a fixed price energy plan wth no exit penalties.
With the removal of this EDF plan, the ScottishPower fixed price energy plan will be the only one available for consumers looking to protect themselves against energy price rises without incurring an early exit penalty.
The lack of fixed price plans is being felt particualrly hard as not only is the EDF plan being removed but there’s also been the recent price increase announced by SSE.
On a positive, ScottishPower has extended the price guarantee on its plan to January 2014, while keeping the price static at £1,052 a year – £6 a year cheaper than the old EDF Energy plan.
There are still no exit penalties so consumers can feel reassured that they are getting a cheap price today, protection against hikes in the future plus the flexibility to switch away should a much better offer come onto the market.
Tom Lyon, energy expert at uSwitch.com, says: “Consumers who want to fix their energy prices cannot afford to hang around – these deals are flying off the shelves and could be pulled at any time.
“People have quickly grasped that paying a low price today, coupled with a price guarantee and no exit penalties makes fixing your prices a real ‘no brainer’. It gives absolute peace of mind coupled with flexibility, vital for consumers as we head into what could well be a winter of price hikes.”
According to uSwitch, the current best buy energy plans are:
|FirstUtility||iSave Fixed v3||£1,040|
|ScottishPower||Online Energy Fixed January 2014||£1,052|
|npower||Energy Online October 2013||£1,064|
|Sainsbury’s Energy||Online Variable September 2013||£1,068|
|Ovo Energy||New Energy Fixed*||£1,088|
|British Gas||Online Variable Aug 2013||£1,120|
MoneyHighStreet comments: ““The whole subject of energy prices is a big issue for households and as many struggle with their personal finances it’s vital to be able to budget for expenses, not just for energy but for all energy and day to day bills.
A fixed energy price plan is an option to help with your budget.
“We are hurtling through the warmer summer months (even though we might be moaning about the horrendous summer!) towards the cold winter months. Now is the time to assess your energy plans and if need be take action to switch energy supplier or perhaps just switch the energy plan with your existing supplier.
“Using a comparison site such as uSwitch you can easily assess which is the best plan to suit your particular needs.
“It is so easy to do and really could help you save money.”