Richard Neudegg, director of regulation at Uswitch.com, comments: “Consumers will be relieved that the Government has acted on the pressure to postpone the planned increase to the Energy Price Guarantee.
“While energy costs are still historically high, wholesale prices are thankfully now turning a corner and we're getting close to the point when consumers can not just benefit from the status quo, but actually see lower costs on their bill.
“The Energy Price Guarantee may only be relevant for another three months. If wholesale prices continue to drop, the next price cap in July could be cheaper, meaning we’ll go back to Ofgem dictating default tariff prices every quarter.
“The focus now should be on bringing back both price certainty and choice for consumers before they have to get on the price cap rollercoaster again.
“We see no reason why suppliers can’t take advantage of the lower wholesale prices and start offering fixed deals that are below the Energy Price Guarantee.
“Seven in ten households say that customers should have the option of a fixed tariff available, with three in five willing to sign up to a fixed deal right now.
“In the meantime, households should keep a close eye on energy market updates, while continuing to monitor home energy usage in order to keep bills as low as possible.”
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.
