Npower and Scottish Power have both pulled their fixed energy deals so consumers wanting to protect themselves from further gas and electricity price rises need to act now as the remaining fixed and capped products aren’t likely to be around for much longer.
EDF Energy hiked gas and electricity prices by 22% and 17% respectively last Friday and other providers are expected to follow suit in the coming weeks. With households already having seen their energy bills rise by an average of 14% this year, the prospect of more increases imminently is resulting in huge demand for fixed and capped rate products. But unless you move quickly and apply for one of these deals today, you risk losing out.
It is likely that Npower and Scottish Power will launch new fixed rate tariffs but these will be more expensive that the products withdrawn from the market today.
British Gas’ Price Guarantee is currently the cheapest fixed rate deal for most people – the average household would pay £1,071.64 a year on this deal. Alternatively, Eon, and EDF are also still offering fixed tariffs, the average annual bills of which work out at £1,102.39 and £1,229.42 respectively.
Average costs are only a guideline as the price you pay for gas and electricity depends on your usage and also where in the country you live. Our Gas and Electric Comparison Tool will help you find the most competitive deal for your circumstances Moneysupermarket Utilities
