It’s curtains for the cheapest energy deals as Brexit mayhem takes hold. A 20 per cent rise in wholesale gas prices for this winter, combined with uncertainty around the UK’s exit of the EU, is leading energy suppliers to pull their cheapest deals, says Yours Energy Switching partner, energyhelpline.
In two weeks the cheapest deals have gone up £46
In fact, all of the top ten cheapest deals from the last month have been removed. Energy suppliers are battening down the hatches, presuming the worst and sacrificing the most cost-effective deals for their customers. Just in the last two weeks, the cheapest deals have gone up in price by around £46 or 6 per cent. For instance, GB Energy Supply was offering a £735 one-year dual fuel tariff, now it’s up to £780 and Sainsbury's Energy one-year fix is now £844, up from £750. Other rises are detailed here:
Mark Todd of energyhelpline says: “If customers want to avoid expensive bills over the coming months, switching must become a habit. The more you switch, the more you save, especially in such uncertain times. Each new political maneuvering is sending shock waves across the market so if there was ever a moment for consumers to get proactive on their finances, it is now.”
"Currently, the cheapest deals are one-year fixed-rate deals. If you want a cheaper price for longer, you can get a longer fixed deal. This is best if you don't want to switch each year."
Table source: All prices are for dual fuel gas and electricity tariffs, paid by monthly direct debit. Average usage. energyhelpline, 15 July 2016
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