Login Register

Grab an energy deal while stocks last!

By MoneySupermarket.com  |  Posted: September 10, 2012


Comments (0)

One of the year's most popular energy tariffs – EDF Energy's Blue +Plus Price Promise – has been pulled from the market, just as providers have started putting up their prices ahead of the colder months.

This shows you can't hang about when it comes to getting the best price for your energy.

EDF Energy says it has withdrawn the attractive Blue +Plus Price Promise tariff because of a surge in demand.

Meanwhile, MoneySupermarket's energy expert Scott Byrom says the dominos will soon start falling after SSE announced its price hikes in late August.

Scott said: "The rest of the market is likely to follow suit. Even those who have committed to no changes this year are likely to announce changes come January 2013."

So, if you still need convincing that now is a good time to see if you could be paying less for your gas and electricity, here are some more reasons you should grab yourself a cheap energy deal while you still can.

Here we go again...

To paraphrase the Spanish writer George Santayana, those who cannot learn from history are doomed to repeat it. You only need to look at what happened to energy prices last year to see that history looks set to repeat itself.

In June 2011, we advised you to protect yourself against energy price hikes when Scottish Power said it would be putting up its gas prices by 19% and its electricity by 10%. By mid-September every one of the Big Six energy firms had followed its lead and put up their prices.

Fast-forward to August this year and SSE became the first of the Big Six to announce autumn price hikes, saying it will raise prices by an average of 9% by October 15.

Not convinced the other energy companies will follow suit? Roughly the same thing happened in 2010.

Act now

There are few reasons to think it won't happen again, and Scott is urging households to act now in case it does. He said: "Sitting still means customers could be hanging around on more expensive tariffs than are available elsewhere and therefore wasting money waiting for their supplier to make an announcement.

"But prices are only going to go in one direction. The best deals currently on the market will be replaced in the coming months and chances are they will be more expensive."

For example, the best fixed deal on the market at the time of writing, which comes from Scottish Power, is fixed until January 2014 and, crucially, has no termination fees. This means that, if a better deal comes along, you can transfer across without incurring any penalties.

Need more convincing to switch now? Well, you could be paying for more energy than you're actually using, according to research.

According to Santander, one million households in the UK haven't given a gas or electricity meter reading to their supplier over the past 12 months. This, says the bank, means a million households are collectively overpaying their bills by around £17million.

Other savings up for grabs

You should always keep an eye out for the cheapest tariffs, but there are other things you can do to make sure you're getting the cheapest possible energy.

Getting both your electricity and your gas from the same provider, for example, will earn you a dual fuel discount. In many cases, managing your energy account online will also earn you a discount, as will switching to Direct Debit payments, if you've not already done so.

Don't get caught cold

According to Scott, now is not the time to wait and see what the rest of the energy market does in the wake of recent moves by SSE and EDF. He said: "Waiting to see what happens is a risky game to play and one that could easily come back to haunt you.

"There are great deals on the market to be had right now before the winter months creep in, so it's best to act quickly and get the best deal on your energy without delay."

Read more from Lincolnshire Echo

Do you have something to say? Leave your comment here...

max 4000 characters
  • rick29  |  September 14 2012, 8:02AM

    people should change to ebico, they have one price one tariff my gas is a flat rate of 4.580p all day everyday, compared to my gas when i was with e-on that was 8.7p during the day and 3.6p during the night when the gas wouldnt get used as much. e-on also saying i owe £10.36 even though i have a prepay meter.

  • crossplot  |  September 13 2012, 6:42PM

    They are all the same, but one thing I can say for sure is as soon as I have got rid of my BG account it will be bye bye.

  • smoker  |  September 13 2012, 4:28PM

    I'm an EDF dual fuel customer, but no mention was made by EDF to me about the EDF Energy's Blue +Plus Price Promise. It seems that unless you are constantly checking prices every month or so you have no chance of getting the lowest prices.

    |   3