Online tariffs 'offer best value for utility customers'
Published On 29 April 2008
Online tariffs offer the best value for consumers looking to keep their utility bills low, an industry expert has said.Commenting after Npower launched what is being called a "market leading" online tariff for its utility customers, moneysupermarket.com's head of utilities, Paul Schofield, explained that consumers now needed to take the time to make sure they were on the most appropriate scheme.
He said that regional price differences meant that individual consumers needed to carry out careful research to determine the best value utility tariff.
"Online tariffs continue to offer the best prices but customers may now want to look for reassurance in "fixed" tariffs to avoid any further price hikes," Mr Schofield explained.
"However this comes at a cost with annual bills averaging £200 more than cheaper alternatives. However, if prices continue to rise, those who gamble to 'fix' now may be quids in later."
Recently, Fool.co.uk reported that many home movers inadvertently ended up signing up to their utility supplier's most expensive tariff.
David Kuo, head of personal finance at Fool.co.uk: "New occupants should not delay in switching away from deemed tariffs, even if it means transferring to a monthly direct debit tariff with the same lender first. The longer you wait, the longer you will be on the most expensive tariff."
