Speculation has long been brewing around what the fall-out would be when the energy price cap finally came in earlier this month.
The energy price cap is the threshold at which an energy supplier can set their standard variable tariff. This is currently no higher than £1137. You can read our full blog on the energy price cap here.
So are people now protected from shocker bills appearing through their letter box? Are energy suppliers playing ball?
Our new research shows things aren’t as rosy as we might think. Suppliers are actually offering a number of other deals much more expensive than the price cap.
What does our price cap research show?
We have found that there are a huge 66 energy deals higher than the price cap. The most expensive is a staggering £175 more expensive than the price cap.
Every single one of the Big Six energy companies has a deal more expensive than the price cap.
Top 5 worst deals more expensive than the price cap
|#||Supplier Name||Tariff Name||Cost||Tariff Type||Green or not green||Duration||Exit fee|
|1||EBICo||Ebico Prime Fixed 18 v2||1312.29||Fixed||No||18 months||£60|
|2||First Utility||StuRents Fixed February 2020||1288.12||Fixed||No||Until Feb 2020||£100|
|3||First Utility||First Control December 2020 v3||1276.92||Fixed||No||Until December 2020||£100|
|4||EBICo||Ebico Prime Fixed 18 v2 – Paperless||1267.29||Fixed||No||18 months||£60|
|5||PFP Energy||Simple Clear||1265.32||Variable||No||Variable||None|
You can see the full list at the bottom of this blog.
How are energy suppliers allowed to do this?
Standard variable tariffs (SVT) are notoriously the worst value deals on the market. This is an energy company’s default tariff and this is the one which has to comply with the price cap.
However, other variable deals or fixed deals are not capped.
These are the deals you now have to look out for!
I thought fixed deals offer price protection?
Fixed deals are thought to be the safe option. The pros of a fixed deal are that you have a fixed rate throughout your contract, meaning you are never affected by price rises.
However, 59 of these deals are fixed and frankly, very expensive.
The priciest is £175 higher than the cap and around £345 more than what you could pay on the cheapest deal.
Can I leave the deal?
Yes but at a cost. For example, British Gas’ fixed deal has an exit fee of £80 for gas and electricity.
Top 5 worst Big Six deals and exit fees
|#||Supplier Name||Tariff Name||Cost||Tariff Type||Duration||Exit fee|
|1||British Gas||Everything Online Green Dec 2021||1255.04||Fixed||24 months||£80|
|2||npower||Price Freeze March 2023||1254.61||Fixed||Until March 2023||£60|
|3||British Gas||HomeEnergy Secure May 2021||1230.36||Fixed||Until May 2021||£80|
|4||ScottishPower||Help Beat Cancer Fix and Save January 2021||1228.81||Fixed||Until January 2021||None|
|5||npower||Super Fix September 2021||1211.56||Fixed||Until September 2021||£100|
Is there no escape?
It can seem at every twist and turn, you can’t escape a rip-off deal. It is becoming harder and harder to feel confident with the deal you go for.
How do auto-switching services solve this?
With our service we assess the market on your behalf and make sure this is a competitive deal in every sense of the word.
Outsource the decision to the experts and we will wade through the jargon, review industry advice and ratings and take time to consider your needs – including customer service not just a cheap price.
The great thing is you can reap the benefits of a variable deal or a fixed deal. We’ll make sure the price is worthwhile before you go into a fixed deal and we’ll never make you pay early exit fees unlike other auto-switching services.
You can also get a cheap deal on a variable but we’ll keep an eye on the price and if it goes up, we’ll switch you over to a new deal – no fuss.
You can be safe in the knowledge that you’ll never overpay for your energy bills with us.
|#||Supplier Name||Tariff Name||Cost||Tariff Type|
|1||EBICo||Ebico Prime Fixed 18 v2||1312.29||Fixed|
|2||First Utility||StuRents Fixed February 2020||1288.12||Fixed|
|3||First Utility||First Control December 2020 v3||1276.92||Fixed|
|4||EBICo||Ebico Prime Fixed 18 v2 – Paperless||1267.29||Fixed|
|5||PFP Energy||Simple Clear||1265.32||Variable|
|6||First Utility||StuRents Fixed February 2020 – Paperless||1264.12||Fixed|
|7||British Gas||Everything Online Green Dec 2021 – Paperless||1255.04||Fixed|
|8||Green Star Energy||Fix for Longer 18M v1||1254.97||Fixed|
|9||Green Star Energy||Fix for Longer 24M v1||1254.97||Fixed|
|10||npower||Price Freeze March 2023 – Paper and Paperless||1254.61||Fixed|
|11||First Utility||First Control December 2020 v3 – Paperless||1252.92||Fixed|
|12||First Utility||First Fixed November 2020 v3||1251.31||Fixed|
|13||Green Star Energy||Fix for Longer 18M v1 – Paperless||1239.97||Fixed|
|14||Green Star Energy||Fix for Longer 24M v1 – Paperless||1239.97||Fixed|
|15||Orbit Energy||Easy Fix 36 – Oct18 – Paperless||1239.66||Fixed|
|16||British Gas||HomeEnergy Secure May 2021 – Paper and Paperless||1230.36||Fixed|
|17||ScottishPower||Help Beat Cancer Fix and Save January 2021||1228.81||Fixed|
|18||ScottishPower||Help Beat Cancer Fix and Save January 2021 Online – Paperless||1228.81||Fixed|
|19||First Utility||First Fixed November 2020 v3 – Paperless||1227.31||Fixed|
|20||First Utility||First Fixed January 2022||1225.75||Fixed|
|21||PFP Energy||Simple Clear – Paperless||1225.32||Variable|
|22||Green Star Energy||Fix for Longer 36M v1||1222.41||Fixed|
|23||npower||Super Fix September 2021 – Paper and Paperless||1211.56||Fixed|
|24||GnERGY||GnERGY Super Saver – Paperless||1211.43||Variable|
|25||E.ON||Fix 2 Year with Clean & £2 – Paper and Paperless||1209.2||Fixed|
|26||ScottishPower||Help Beat Cancer Fixed Saver January 2021||1209.17||Fixed|
|27||ScottishPower||Help Beat Cancer Fixed Saver January 2021 Online – Paperless||1209.17||Fixed|
|28||Green Star Energy||Fix for Longer 36M v1 – Paperless||1207.41||Fixed|
|29||npower||Go Green Energy Fix September 2020 – Paperless||1202.88||Fixed|
|30||First Utility||First Fixed January 2022 – Paperless||1201.75||Fixed|
|31||British Gas||HomeEnergy Fix Jan 2020 – Paper and Paperless||1199.44||Fixed|
|32||Sainsbury’s Energy||Price Freeze January 2020 – Paper and Paperless||1199.44||Fixed|
|33||GB Energy Supply||GB Fixed Green Energy Nov 19 – Paper and Paperless||1199.21||Fixed|
|34||Simplicity Energy||DWMExclusiveWinter18v1 – Paperless||1198.86||Variable|
|35||Simplicity Energy||MEXExclusiveWinter18v1 – Paperless||1198.86||Variable|
|36||ESB Energy||1 Year Price Protect v2 – Paperless||1197.71||Fixed|
|37||npower||Price Fix September 2020 – Paper and Paperless||1195.03||Fixed|
|38||OVO Energy||Better Energy 18/12/2018 – Paper and Paperless||1195.01||Fixed|
|39||Spark Energy||Digital Saver v1 – Paperless||1195||Variable|
|40||ScottishPower||Online Fix and Save January 2020 – Paperless||1192.86||Fixed|
|41||OVO Energy||2 Year Fixed 18/12/2018 – Paper and Paperless||1190.18||Fixed|
|42||Spark Energy||Simple Saver March 2021||1188.5||Fixed|
|43||Ecotricity||Green EV & Green Gas||1187.19||Variable|
|44||E.ON||Fix 1 Year with Clean & £2 – Paper and Paperless||1185.21||Fixed|
|45||E.ON||Fix 2 Year – Paper and Paperless||1185.21||Fixed|
|46||PFP Energy||Together – October 2019 – fixed e5 – Paper billing||1184.38||Fixed|
|47||npower||Go Smart Yorkshire Fix April 2021 – Paper and Paperless||1184.04||Fixed|
|48||EDF Energy||Blue+Price Freeze Feb21 – Paperless||1181.23||Fixed|
|49||ScottishPower||Online Fixed Saver January 2020 – Paperless||1173.22||Fixed|
|50||SSE||SSE Smart 1 Year Fixed – Paper and Paperless||1172.61||Fixed|
|51||First Utility||First Smart March 2020 v2||1171.44||Fixed|
|52||EDF Energy||Blue+Price Protection Jan20 – Paperless||1171.31||Fixed|
|53||EBICo||Ebico Evergreen 12 Fixed v2||1167.82||Fixed|
|54||Robin Hood Energy||Clean and Green v2||1167.82||Fixed|
|55||Engie||ENGIE Control Sept 21 – Paperless||1162.71||Fixed|
|56||E.ON||Fix 1 Year – Paper and Paperless||1161.22||Fixed|
|57||Bristol Energy||2-Year Fix Green Issue 3||1156.66||Fixed|
|58||TOTO Energy||TOTO Fixed Saver – 18 months v4 – Paperless||1153.17||Fixed|
|59||TOTO Energy||TOTO Smart Fixed Saver – 18 months v4 – Paperless||1153.17||Fixed|
|60||PFP Energy||ClearFixed 12 v14 – Paper billing||1152.86||Fixed|
|61||E.ON||E.ON Smart Saver 1 Year v7 with Clean £2 – Paper and Paperless||1149.19||Fixed|
|62||First Utility||First Smart March 2020 v2 – Paperless||1147.44||Fixed|
|63||PFP Energy||Together – October 2019 – fixed e5 – Paperless||1144.38||Fixed|
|64||E.ON||Fix Online with Clean & £2 – Paperless||1141.22||Fixed|
|65||Spark Energy||Simple Saver March 2021 – Paperless||1140.5||Fixed|
|66||SSE||SSE 1 Year Fix & Protect – Paper and Paperless||1137.87||Fixed|