Richard Neudegg, director of regulation at Uswitch.com, comments: “The return of fixed deals to the energy market would finally give consumers the freedom of choice over their supplier with an option to lock in more certainty on pricing.
“With wholesale prices stabilising, though still high compared to past years, there is an opportunity for suppliers to start offering more competitive rates.
“Bill payers need the option to fix their deals again or switch away from their current supplier if they want to, just as with the mortgage market where customers have both variable and fixed rate options over different time periods.
“However, the market stabilisation charge implemented by Ofgem, which hits suppliers with charges every time a customer switches provider, alongside other measures, is actively disincentivising suppliers from offering competitive deals.
“It is not ok for customers to have their options artificially suppressed when the market otherwise would be making decent options available that gives additional certainty or savings.
“During the energy crisis, providers have not really felt the threat of customers voting with their feet, risking complacency. A return to fixed deals will bring the benefits of competition back to the market, giving consumers the chance to pick or switch their supplier on the basis of who offers the best deals and customer service.”
About Uswitch
Uswitch is one of the UK’s top comparison websites for home services switching, including energy, broadband and mobiles.
More people go to Uswitch to switch their energy, broadband and mobile than any other site, and we have saved consumers over £2.7 billion off their bills since we launched in September 2000.
Free mobile app Utrack also helps households manage their home energy usage and make potential savings.
Uswitch is part of RVU, a group of online brands with a mission to empower consumers to make more confident home services, insurance and financial decisions.
