Millions of households are facing an increase in their energy bills in January, as Ofgem’s price cap is set to increase from £1,717 to £1,738 per year. However, there are fixed energy deals available that can help customers save money by locking in gas and electricity rates for a set period. By switching to a fixed deal, customers can potentially save up to £141 per year compared to the standard variable tariff. Fixed deals are available for different lengths of time, typically ranging from 12 to 24 months. While there is a slight risk of paying more if Ofgem’s price cap falls during the fixed deal term, the potential savings outweigh the risks.
E.ON Next is currently offering the cheapest fixed deal on the market, with its Next Fixed 18-Month tariff costing a typical household £1,597 per year. Other providers like Outfox the Market and Octopus Energy also offer competitive fixed deals that are cheaper than Ofgem’s January price cap. When comparing deals, customers should be mindful of any exit fees or additional services that may be required to access the lower rates. Reading the fine print is essential to ensure that the deal offers the best value for money and meets the customer’s specific needs.
To find the cheapest fixed energy deals, customers can use price comparison websites like Uswitch.com and MoneySavingExpert’s Cheap Energy Club. These sites aggregate offers from different energy suppliers based on the customer’s postcode and current energy usage. Customers can compare rates, contract lengths, and additional benefits to choose the best deal for them. It is also advisable to check individual energy suppliers’ websites for exclusive promotions or discounts that may not be listed on comparison sites. Considering customer service reviews and supplier reputation can help customers make an informed decision before switching providers.
For customers reluctant to commit to long-term fixed deals, flexible tariffs are worth considering. These tariffs typically offer rates at or below the price cap and may include discounts or fixed guarantees for a limited period. Checking with the supplier for any available assistance programs or grants can help customers struggling to pay their energy bills. Many energy firms have schemes in place to support customers in financial difficulty, such as repayment plans or grants. Signing up for the Priority Services Register can also provide extra help and protections for vulnerable households, including advance blackout warnings and free gas safety checks.
Overall, by exploring fixed or flexible energy deals, using price comparison websites, checking for exclusive promotions, and accessing available assistance programs, customers can potentially save money on their energy bills. Making an informed decision based on individual needs and preferences is key to finding the best energy deal that offers value for money and meets specific requirements. Customers should also remain vigilant about exit fees, additional services, and customer reviews to ensure a smooth transition when switching energy providers.
