Six in 10 choose fixed energy tariffs
Sorry to an ongoing harbinger of doom and gloom but this article reinforces the message that commodity prices are getting out of control and we all know that one of the greatest challenges to rural sustainability are fuel prices. We could do with a serious price of work on the policy implications of all of ballooning fuel prices on rural communities. The article itself goes on to say:
“The average variable-rate dual fuel energy bill is now £1,131, uSwitch said, with the average fixed-rate deal costing £1,089. But this small saving could rise if prices increased substantially.
If suppliers raised prices by 10pc the average standard plan customer would see their bills rise to £1,244, while fixed-rate customers would pay the same £1,089, a saving of £155 or 12pc, the company calculated. A 20pc rise in standard prices would see a fixed-rate customer saving £268 a year.
Those with “online” variable-rate energy plans face a more difficult decision. Their average bill is now £958, £131 a year less than the average fixed price deal. However, uSwitch said the cheapest fixed-rate plan cost £1,009 a year – just £51 a year more expensive than the average online deal.
Fears of price rises have increased following confirmation from the regulator, Ofgem, that wholesale energy prices had risen by 30pc since December. One supplier, Scottish Power, has already announced a price rise, with gas and electricity going up by 19pc and 10pc respectively.”