There are 66 energy deals remaining on the market that cost more than the price cap.
That’s the claim made by auto-switching service Look After My Bills, which has published new research suggesting the most expensive, a fixed offering from supplier Ebico at £1,312.29, is £175 more costly than the limit enforced for standard variable tariffs at £1,137 a year.
The company also notes each of the Big Six firms offers a deal that costs more than the price cap.
Although this is allowed as it is not a standard variable tariff, Look After My Bills has branded the move “shameless”.
Of the 66 tariffs more expensive than the cap, 59 of these are fixed and seven are variable – the priciest of the Big Six is British Gas, with a deal costing £1,255 per year, featuring an exit fee of £80.
Lily Green, Head of Research at Look After My Bills said: “The price cap was a welcome step to protecting consumers on extortionate standard tariffs.
“Fixed deals are often seen as the safe option. But locking people into a fixed deal hundreds of pounds pricier than the cap, with a hefty exit fee is a pretty shameless move by suppliers.”
ELN has contacted Ofgem for a response.
Article source: http://www.energylivenews.com/2019/01/12/177548/