Consumers Should Compare Energy, and Consider Switching Energy Providers
Consumers should look around for a better deal, if they are on fixed energy tariffs, according to the Times.
The Times also reports that anyone who signed a contract in 2008, during the time when wholesale energy prices were high, could be better off paying the penalty charge for ending the deal early than continuing to pay a high rate every month.
It is also reported that one of the largest energy firms put its prices up by record levels in the summer of 2008 at 35 per cent for gas and 9 per cent for electricity.
Founder of Theenergyshop.com, Joe Malinowski, told the Times: “The one place where prices have fallen is for discontinued online tariffs and it seems likely that competition for new customers will remain intense.” He added that those consumers looking for a better deal should shop around.
The government has announced reforms to the industry, so households could already be set to receive cheaper bills. These include the energy bill announced in the Queen’s speech and would allow Ofgem more influence.