66 energy deals ‘are still more expensive than the price cap’

Posted at January 12, 2019 » By : » Categories : News » Comments Off on 66 energy deals ‘are still more expensive than the price cap’

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.

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