Co-op Energy scraps standard variable tariff

Co-operative Energy has scrapped its standard variable tariff (SVT) for customers on fixed deals. They will no longer be automatically switched to its SVT when their fixed price tariff comes to an end. It instead switches them to a new fixed tariff, which has no exit fees and runs until May 2019. SVTs are considered […]

Quarter of Brits ‘in the dark over SVTs’

  A quarter of people in the UK don’t know if they’re on high-cost Standard Variable Tariffs (SVTs) or not. That’s according to a new survey from Bulb Energy, which suggests young people are less likely to know what deal they’re on than older generations – despite having access to a range of apps and […]

Ofgem says 71% of SSE customers still on SVTs

As many as 71% of SSEs’ customers are still on standard variable tariffs (SVT). That’s according to a new report from energy regulator Ofgem, which lists the largest suppliers in terms of which have the most customers remaining on what it calls poor value deals. British Gas ranked second from the bottom, with 67% of […]

Centrica to cut SVTs: Industry responds

Centrica has announced plans to scrap its standard variable tariff (SVT) deals, with the aim of driving down energy costs and making the market more fair. The British Gas parent company said the move will increase engagement and choice, reduce average bills, deliver a fairer allocation of energy policy costs and further protect vulnerable customers. […]

Centrica to scrap standard variable tariff

Centrica has announced it plans to scrap its standard variable tariff (SVT) deals to drive down energy costs and make the market more fair. The British Gas parent company said the move will increase engagement and choice, reduce average bills, deliver a fairer allocation of energy policy costs and further protect vulnerable customers. It has […]

SSE pledges to cut number of customers on poor value energy deals

SSE has pledged to reduce the number of customers on the default standard variable tariffs (SVTs). In a letter to Energy Secretary Greg Clark and Ofgem CEO Dermot Nolan, Chief Executive Alistair Phillips-Davies said the Big Six supplier will no longer automatically roll customers onto SVTs once they have come to the end of their […]

CMA reinforces importance of consumer engagement

The lack of consumer interest, knowledge and engagement regarding energy tariffs is a serious problem. That’s according to new findings from the Competition and Markets Authority (CMA), following its investigation into the UK energy market. It presented evidence to the BEIS Committee at Westminster earlier today. The group said suppliers need to encourage customers onto better deals, make their costs and profits more transparent, […]