Powergen offers fixed rate product

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Powergen, UK arm of German energy giant E.ON, has announced that it is releasing a fixed-rate energy product.

The new deal, the first arrangement of this kind to be offered by the supplier, will allow both new and existing dual fuel and electricity customers to fix their energy prices at Powergen's current standard rates until January 1st, 2009.

The offering gives customers the opportunity to benefit from discounts of up to nine per cent by selecting Powergen as their supplier for both energy and gas and paying their bills monthly by Direct Debit.

"Fixed price until 2009 offers consumers the opportunity to fix the amount they pay at today's standard prices with no tie-ins or exit fees if they change their minds," Graham Bartlett, managing director of Powergen Retail, said.

"This is simply a win-win product for people who want complete reassurance with absolutely no hassle."

Analysts say that the deal could offer peace of mind for consumers, but point out that many online deals are actually cheaper.

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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