New collective switching energy deal jumps to the top of best buys

12th November 2014

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Extra Energy’s Saverplus Collective Jan 2016 tariff has topped the tables of the cheapest short-term fixed deals for dual fuel customers.

The new tariff, launched today, will cost the average medium energy use household £949 a year, beating First Utlity’s iSave Fixed v37 March 2016 paperless tariff by £11 a year. The deal is being offered via collective switching company The Big Deal in association with The Sun newspaper, and is not available via comparison sites.

However, GoCompare.com, the comparison website points out that customers who are eligible for the £140 a year ‘Warm Home Discount’ will not be able to receive it via this tariff as Extra Energy do not offer the scheme.

Therefore, GoCompare.com argues that eligible customers, which include those who receive the Guarantee Credit element of Pension Credit, may still be better off with other ‘best buy’ tariffs, including those from First Utility, Npower and E.on.

The latest Npower tariff, the Online Price Fix January 2016, costs £19 a year more than the Extra Energy tariff for an average medium energy user, but is fixed for the same period and has no early cancellation charges.

Consumers choosing the Extra Energy tariff will see their energy prices fixed until January 31, 2016. But if they cancel early fees of £25 per fuel apply.

The tariff is available to dual fuel users who pay by direct debit or six-monthly billing and it closes for applications at 6pm on Friday November 28.

Jeremy Cryer, energy spokesman at GoCompare.com, said: “This new collective switching tariff from Extra Energy and The Big Deal is the latest of a raft or new tariffs to have jumped into the short-term fix best buy table in the last two weeks.

“In fact the top spot position has changed three times since the start of November, demonstrating just how quickly the market is moving. Just yesterday Npower replaced a three week old tariff with a new one charging £32 a year less – a 3% drop in under a month.”

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