Shopping around for energy deals has never been a popular pastime. For most of us, spending hours making sure our fuel bills are as low as they can be tends to languish towards the bottom of the to-do list. Of course, there are wonks out there who enjoy the satisfaction of knowing they’ve scoured the internet to find the cheapest price possible, but the energy crisis has denied even these select few the pleasure of deal hunting.
Pre-crisis, energy suppliers were fighting it out in a competitive marketplace. Companies were keen to lower their prices and offer juicy deals to tempt customers away from rivals. Then, as energy prices began to surge, this came to a halt. Soaring wholesale gas prices led suppliers to withdraw cheaper offers and tariffs drew level around the mark set by Ofgem’s Price Cap.
