Act now to fix your energy bills – fixed deal tops cheapest tariffs

2 min Read Published: 19 Aug 2013
Gas ring alight
Should you fix your energy bills?

 Why you should think about fixing you energy bills now

There are a number of reasons why consumers should be reviewing their energy tariffs:

  • M&S has just launched the cheapest energy deal on the market which fixes your gas and electricity bills until September 2014, although it does come with a £50 exit fee (see below) .
  • The energyhelpline has said prices could go up by 5 to 10% in the next few months, claiming that the Big Six suppliers "have been strongly hinting that there are more price rises to come".
  • Energy watchdog Ofgem forecasts a £110 rise in the average cost of gas and electricity on standard tariffs, pushing the average bills well over £1,400 a year.
  • A number of fixed rate deals have come to an end with the Daily Telegraph claiming that with hundreds of thousands of consumers  coming off “super-cheap” fixed deals many of their annual bills will jump by more than £200 as they move back to their utility company's standard rates.

What are the cheapest energy deals on the market?

Below I roundup the cheapest energy deals currently on the market.

Supplier Tariff Price per year Fixed/variable
M&S Energy Fix & Save £1,147 Fixed Until Sept 2014
Sainsbury Energy Online October 2014 £1,152 Variable
npower Energy Online October 2014 £1,153 Variable
first utility* iSave Dual Fuel V16 £1,164 Variable

The above figures are from energyhelpine.com and based on Ofgem's average household usage data.

Get the best energy deal for you

The above figures are based on an average household bill and will vary depending on location.  So to find the best deal for you start by entering your postcode in the box below:

[box type="shadow" ]Compare all UK suppliers including internet, standard and fixed tariffs. Switching tariffs is easy and takes a few minutes[/box]

For more information on how to cut your energy bills read my article - 6 ways to cut your energy bills.

Looking for a financial adviser near you?

Do you need financial advice? An independent financial adviser can show you how to make the most
of your money. Find your nearest qualified and regulated adviser using this VouchedFor search tool.

Alternatively, Hargreaves Lansdown, one of the UK’s largest firms providing restricted financial advice, is offering a £200 John Lewis voucher* to new clients.