Consumers advised to cap energy tariffs

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Consumers advised to cap energy tariffs

Mon 28th Jul 2008

Two financial websites have urged people to switch to capped deals in the face of significant energy price hikes.

Confused.com and Fool.co.uk made the recommendations after EDF Energy upped its electricity and gas prices by 17 per cent and 22 per cent respectively.

Confused.com said that the average consumer who has never switched energy providers can save £248 by making a change.

It suggested ScottishPower's Fixed Price Energy, which guarantees not to increase rates before August 31 2009. While this is nearly 20 per cent more than British Gas' Click 5 tariff, the best non-capped offer, price rises could make it "a bargain in the not-so-distant future".

Fool.co.uk repeated its warning from last week that cheap energy tariffs will be gone from the market by the end of the month and urged people to switch to capped rates.

Head of personal finance at Fool.co.uk, David Kuo, said: "EDF Energy could not have timed its increases better to suit its own purpose", observing that many families abroad for their summer holidays cannot react easily to the increase.

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