Fixed price plans remain cheaper, despite recent cuts

Fixed gas and electricity tariffs are still cheaper than standard rates, even after the latest round of price cuts, according to switching service uSwitch. The average cost of a fixed […]

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By Tom Gibson

Fixed gas and electricity tariffs are still cheaper than standard rates, even after the latest round of price cuts, according to switching service uSwitch.

The average cost of a fixed price plan taken out today is £110 less than the current average standard plan.

Tom Lyon, energy expert at uSwitch said: “As a result of the £224 or 21% hike inprices that started at the end of 2010, consumers flocked to fixed price plans – now with energyprices falling, some will be wondering whether they did the right thing.

“The reality isthat even after these cuts prices would still need to fall by £170 or 13.5% before those on fixedprice plans would be out of pocket compared with standard plan customers.”