The consumer advice experts at Money Saving Expert have highlighted a new energy tariff that could save households around £135 per year on the current energy price cap. With an eight per cent lower cost than the current average household bill, MSE have said: 'This is definitely a fix to consider'.
From this month, the energy price cap, which sets the maximum amount a supplier can charge you per unit of gas or electricity, has been lowered to £1690 for the average household bill. Most suppliers are still charging customers close to this cap, but this new tariff could help some energy switchers take back control over one of their biggest monthly fixed costs.
MSE's founder Martin Lewis has said previously that the "rule of thumb" with these tariffs is whether they are more than three per cent under the energy price cap. With this offer from Outfox the Market, you could undercut current energy prices by eight per cent - or around £135 for the average household bill.
Energy prices are forecast to fall at the next review of the energy price cap, which is in July 1, with Cornwall Insight predicting it will drop to £1560 in a few months. However, in a sign of the volatility in the energy markets, they then see the cap rising to £1631 in October. This volatility could make a fixed 12-month tariff more attractive to customers, who would not have to deal with price fluctuations beyond their control, while locking in a lower price than the current energy price cap. The Outfox the Market deal is available to anyone on a dual-fuel tariff and can be taken up by both new and existing customers.
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