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Wholesale price cuts: energy giants struggle to match best-buy fixed deals

8th January 2015 Print

As energy companies fail to pass on wholesale price cuts, suggests that consumers take advantage of a fixed tariff ‘price war’ to guarantee their own savings.

As the Chancellor calls on energy companies to pass on wholesale energy price reductions to domestic customers, comparison website says consumers can take matters into their own hands rather than waiting for price cuts.

Jeremy Cryer, energy spokesperson at, said: “While the Government is right to challenge the energy providers to pass on these savings as millions of people are still on a ‘big six’ standard tariff, the truth is that most households would be better off switching to one of the best-buy fixed rate deals currently available. As our figures show – it could be a straight choice between saving over £300 now or trusting your current provider to reduce your bill.

“We know energy companies can be slow at passing on price reductions to existing customers, but there are loads of really good fixed tariff deals available at the moment. The best deals have been getting cheaper and cheaper in recent months with a real price war breaking out between a number of the smaller providers, making it the perfect time to shop around and save money.”

As a result of the price cuts in late 2014, the energy best-buy table is now entirely comprised of sub-£1,000 tariffs - the first time that’s happened since mid-2012.