SSE has today launched the market’s cheapest fixed energy deal in over 18 months, in what could mark the start of a price war between suppliers, according to Uswitch.com, the independent price comparison and switching service.
The new tariff costs £899 a year based on average energy consumption, with prices fixed for 12 months. The deal is second in the best buy table to a variable plan from GB Energy Supply.
Ann Robinson, Director of Consumer Policy at Uswitch.com, says: “Small suppliers have ruled the roost in the best buy tables over the last year, so this new deal could be the firing pistol for an industry price war.
“The Competition and Markets Authority reported just days ago that millions of customers are paying too much for their energy. Is today’s move by SSE designed to lay down the gauntlet to the other big suppliers to do more to help customers tackle high bills?
“The introduction of competitive, fixed rate plans – up to £338 a year cheaper than standard big six standard tariffs – shows that cheaper bills are within touching distance for customers. We now need stronger measures to help more consumers engage with the market. If more of us shopped around, suppliers would have no choice but to improve service and lower prices.”
| Best buy plans paying by monthly Direct Debit | |||||
|---|---|---|---|---|---|
| Supplier | Plan name | Average bill size | Tariff type | ||
| GB Energy Supply | Premium Energy Saver | £870 | Variable | ||
| SSE | 1 Year Fixed | £899 | Fixed | ||
| Extra Energy | Fresh Fixed Price Nov 2016 v1 | £912 | Fixed | ||
| Flow | Connect | £914 | Fixed | ||
| GnERGY | GnERGY Fixed June 2016 v1 | £915 | Fixed | ||
| Green Star Energy | Rate Saver 12 Month Fixed 1507 | £917 | Fixed | ||
| First:Utility | iSave Fixed August 2016 | £917 | Fixed | ||
| Sainsbury’s Energy | Fixed Price July 2016 | £930 | Fixed | ||
| OVO Energy | Better Energy (all Online) | £933 | Fixed | ||
| Co-op | Fair & Square May 2016 | £944 | Fixed |
Source: Uswitch.com. Table correct as at 9th July, 2015. Prices quoted based on a dual fuel customer consuming medium energy usage as defined by Ofgem (3,200 kWh of electricity and 13,500 kWh of gas per year) with prices averaged across all regions.
For more information visit http://www.uswitch.com/ or call 0800 093 06 07
FOR MORE INFORMATION
Jason Wakeford
Phone: 0203 872 5612
Email: jason.wakeford@uswitch.com
Twitter: @UswitchPR
Notes to editors
1. SSE 1 Year Fixed plan costs £898.89 based on average consumption. Rates fixed for 12 months from plan start. Online account management required. There is a £30 cancellation fee per fuel. SSE 1 Year Fixed is the cheapest fixed rate deal on market for over 18 months. Excludes collective switch schemes. 2. The new SSE fixed plan is the cheapest fixed rate deal on the market at £899. The average big six standard variable tariff is £1,237 (paying on receipt of bill) = £338 difference.
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