Consumers 'should consider switching from a fixed energy tariff'

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Consumers on fixed energy tariffs have been advised to shop around to see if they can get a better deal, according to the Times.

The newspaper reports that people who signed a contract in 2008, when wholesale energy prices were high, might be better paying the penalty charge for ending the deal early than continuing to pay a high rate each month.

It reports that one of the big six energy firms put its prices up by record levels in the summer of 2008 at 35 per cent for gas an nine per cent for electricity.

Joe Malinowski, founder of Theenergyshop.com, told the newspaper: "The one place where prices have fallen is for discounted online tariffs and it seems likely that competition for new customers will remain intense."

He added that those looking for a cheap deal should be prepared to shop around.

Households could already be set to receive cheaper bills in 2010 as the government has announced reforms to the industry. These include the energy bill which was announced in the Queen's speech and would allow the energy watchdog Ofgem more influence over energy suppliers.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


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