Piggybank News

October 11, 2011

Is it time to fix your gas bill?

Despite Britain’s economy slowly beginning to improve, households across the country are still feeling the pinch. Energy bills remain a major concern for many and any rise in the cost of electricity and gas will want to be avoided – particularly if the UK experiences a cold winter like the last one.

However, over the last few months wholesale energy prices have “zoomed up” and the rising costs are being passed on to the consumer unless they switch to a fixed price tariff sooner rather than later.  By switching to a cheap fixed rate deal now many consumers feel that their energy bills will be less of a concern during the long winter months.

While prices are all important when choosing an energy provider, so too is customer satisfaction. According to a Which? Energy customer satisfaction survey published in February only 12% of consumers feel that their supplier is open and honest about the costs that make up their bills.  Smaller, less well known suppliers out performed the larger companies by a fair margin, especially on issues such as clarity of billing,  with the top listed provider being once again the Utility Warehouse Discount Club.

Which? Chief Executive Peter Vicary-Smith said that energy providers “have to do more than cut their prices” to win over customers.

However, with winter only months away, price remains the primary concern for those responsible for paying energy bills. Martin Lewis, MoneySavingExpert.com creator, says: “Much like fixed rate mortgages, a capped tariff gives price surety. … So if you can get a cheap cap, without paying a premium, the only downside risk is that you may have to pay an exit penalty if you find something cheaper. This is a small price to pay for stability for those whose finances are precarious.”

The Utility Warehouse Discount Club have responded to the challenging market by launching two extremely competitive energy deals.

  • Both new and existing Customers of UWDC are being offered the chance to fix their energy prices until 31 August 2013. (if customers take other services from the company this can be extended until 31 August 2014.)  Unlike most fixed price tariffs there is no early termination fee and if a customer moves house – they can take their Fixed Price Tariff with them!
  • If you are unconvinced of the benefits of fixing your tariff and want to avoid the small premium that this incurs then UWDC is also offering new customers a 10% discount on the energy you have used at the end of the first year.

To find out if one of these tariffs could save you money please contact Nikki and request a free energy quotation.

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