Silver lining for those on fixed plans set to end as suppliers up their game
As temperatures are set to plummet, many consumers could see their energy bills soar this month as a number of fixed deals come to an end.
However, the warming news for consumers is that is that an array of new competitive fixed price deals are now available.
At the start of this week, npower became the latest to offer a lifeline to those looking to safeguard themselves from the potential price hikes threatening this winter. The move comes after a number of its competitors have staked their claim in the ‘best-buy' tables by launching an appealing array of fixed price energy deals - some enabling consumers to lock-in their energy price for up to three and a half years.
Tom Lyon, energy expert at uSwitch.com, says: "As a number of fixed deals come to an end this month, many of those who have enjoyed the peace of mind from stable prices could see their bills rocket - by as much as £200. But for those worried about coming back down to earth with a bump, the fact that suppliers are falling over themselves to offer the most competitive fixed price deals, should bring some comfort.
"And the even better news is that opting for a fixed price energy plan doesn't have to cost more. The cheapest deal on the market, M&S Energy's Fix and save tariff is also a fixed plan - giving consumers the best of both worlds. While for those worried about the long-term forecast for their household finances, npower this week launched Price Protector March 2017, which gives concerned consumers almost two and a half years of protection - for less than the average standard plan bill.
"But it's not just the time for those coming to the end of their deal to consider their options - with winter looming and rumours of price rises not dying down, many households will be worried about their bills. Now is the time to shop around and find a cheaper plan before the temperature falls. For some, one of the newest competitive fixed deals may be ideal and ensure they avoid being left out in the cold."