People are being offered a new fixed energy tariff that is cheaper than Ofgem's upcoming revised price cap. From July 1, the energy price cap will be set at an annual level of £2,074 for a typical household paying for gas and electricity by direct debit.
However, a 12-month fixed energy tariff from So Energy, costing £2,047 for households with average consumption, is being offered to a limited number of customers of Uswitch.com, the comparison and switching service – £27 cheaper than July’s price cap. Such tariffs have become scarce since the global gas crisis took hold.
Households already signed up to receive alerts for exclusive deals will be first in line before it is offered to all Uswitch customers. Eligible customers can receive a detailed forecast of their personalised usage and costs to help them understand if it is a good deal for them.
While the deal is available to new customers with any supplier via Uswitch, existing So Energy customers can access the deal directly.
Natalie Mathie, from Uswitch.com, said: “Most of the fixed energy deals currently available are for existing customers only, so the fact that we can offer this to new customers is an encouraging sign that competition is returning to the market. At £2,047 for the average household paying by direct debit, this is reasonably priced compared to the upcoming July price cap and could be worth considering.
“Signing up to a fixed deal means locking in price certainty for the duration of the fix, although your bill will still depend on how much energy you use. Those on standard variable tariffs will see energy costs change every three months with the price cap.
“As this is a limited deal, we don't expect it will be available for long - but we’re hopeful this will encourage more suppliers to make fairly priced deals for more customers available soon.”
April's price cap was £3,280. But since October 2022 the Government’s Energy Price Guarantee has limited the typical bill to £2,500.
