Uswitch responds to Ofgem’s announcement of the October energy price cap
Richard Neudegg, director of regulation at Uswitch.com, comments: “The news of a 10% rise in energy rates from October is a harsh reminder of how quickly the energy market can reverse course.
“The good news is, households don’t have to put up with the uncertainty of rising bills, as right now there are fixed deals available that are cheaper than the new price cap.
“The cheapest 12 month fixed tariff, for the average household, is currently £1,592, representing a £125 annualised saving against October’s price cap, and offers protection against another potential rise in January.
“It’s important for households looking for certainty to run a comparison to see what’s available to them and see personalised prices based on how much energy they are likely to use.
“A sanctioned rise in rates, just at the point we start to use more energy over the colder months, brings into sharp focus whether industry regulation is working well for customers.
“Today’s announcement comes just four weeks after Ofgem’s move to retain a ban on tariffs that could offer customers better prices.
“Customers staring down the barrel of winter might question whether the current price cap system is really the best way to put real pricing pressure on suppliers.”
About Uswitch
Uswitch is one of the UK’s top comparison websites for home services switching, including energy, broadband and mobiles.
More people go to Uswitch to switch their energy, broadband and mobile than any other site, and we have saved consumers over £2.7 billion off their bills since we launched in September 2000.
Free mobile app Utrack also helps households manage their home energy usage and make potential savings.
Uswitch is part of RVU, a group of online brands with a mission to empower consumers to make more confident home services, insurance and financial decisions.