- A fixed tarriff is worth considering as we head into the colder months
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The energy price cap is increasing by £35 annually for the average household tomorrow.
If you haven’t fixed your tariff, it’s worth considering as we head into the colder months.
Smaller, less well-known energy suppliers have been battling to offer the cheapest energy deal recently, with Outfox Energy consistently topping the rankings.
Now a fix from Fuse Energy is offering a whopping £234 saving against the price cap for the average household, but you’ll have to be quick if you want to take advantage, because the deal ends at midnight tonight.
The average annual bill sits at £1,521 with Fuse Energy’s fix, and with the energy price cap increasing to £1,755 tomorrow it represents a significant saving.
However, these figures are both based on ‘typical’ energy usage and if you use more, you will pay more.
Bills increase: The price cap is going up on 1 October
Ofgem announced last week that by the end of January suppliers must offer households at least one tariff that lowers standing charges, which are a provider’s fixed fees for supplying energy. However, this may not lead to big savings, because these costs will be added to the unit cost of energy instead.
This is just one reason it’s worth looking for savings wherever you can, and fixing your tariff makes this possible.
> Compare energy deals with Uswitch*
Fuse Energy: How does the deal stack up?
Fuse Energy’s tariff works out as £1,521 annually for the average household. Keep in mind that a fixed deal secures the unit cost of energy rather than setting a limit on your total bill, so if you use more energy than the average household, you’ll pay more.
The fix lasts for 13 months and exit fees are £50 per fuel.
The deal is only available through Uswitch*, Confused and direct through Fuse Energy.
Fuse Energy is a newer supplier, and bear in mind that it’s primarily app-based and paperless.
The next best fix is from Outfox Energy, which has a 12-month tariff that’s £2 more expensive for the average household at £1,523 a year.
And if you’d prefer a fix from a larger supplier, Eon Next has a 12-month fix that works out as £1,635 annually for the average household.
This is available through Uswitch*, Confused and direct through Eon Next – exit fees are also £50 per fuel.
> Here are the best energy deals available this week
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