Protect yourself from rises in fuel prices with fixed-rate deals

A fixed-rate fuel bill will protect you from any rises in energy prices. Make sure you're getting the best deal by doing your research.
A new fixed-rate energy deal is worth a gander. EDF’s Blue Feb 2015 fix will save someone on a standard dual-fuel tariff £200 a year, according to research — and it means that households on the deal won’t have to worry about prices going up for almost two years, making it easier to budget. In addition, the package does not have an “exit” fee, meaning if gas or electricity prices fall — which they just might — and the fixed-rate no longer works out as good value, you can leave and switch to a completely different, cheaper supplier.

If you do want to sign up, switch using a comparison site and you can get more back: uSwitch.com, for example, gives households who switch via its links six free bottles of wine as a thank you.

Another cheaper deal is the Thames Fixed Online plan from new provider Flow Energy. Its annual bill for the average household saves about £60 less than EDF’s, with a yearly bill of £1,134, but the prices are only fixed until 31 August 2014 - and it does have a £30 cancellation fee for those who quit before that date.

Alternatively, the New Energy Fixed tariff from small player Ovo Energy is worth taking a look at. It’s not one of the “Big Six” suppliers but the stuff coming out of your pipes will be the same. Ovo’s package will cost the average customer £1,172 a year, according to consumer group Which?, and the deal is fixed for 12 months. It has a £30-per-fuel exit fee.

But, crucially for those who have been driven barmy by bad service from the big energy suppliers, Ovo earned a high 74 per cent in the latest Which? customer satisfaction survey. By contrast, EDF Energy scored just 46 per cent when 10,000 members of the public were asked to rate their energy company.

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