Scottish Power has introduced a new fixed online energy tariff but there are cheaper fixed deals on the market.
The new tariff is £41 more expensive than the company’s previous fixed-price deal, and over £86 more expensive than the cheapest deal on the market. It’s called Scottish Power’s Online Fixed Price Energy April 2014.
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Average cost of Scottish Power’s new tariff
The new gas and electricity tariff will cost the average household £1,140 a year and promises to fix customers’ bills until April 2014. It’s only available to customers who manage their account online and there are no exit fees.
However, cheaper fixed gas and electricity deals are available from Scottish Power and other providers.
This is the second cheapest fixed deal from Scottish Power – its Help Beat Cancer Discounted Energy August 2015 costs the average household £1,134 a year.
Scottish Power vs First Utility
Last month we reported that energy supplier First Utility had launched the cheapest energy deal for winter, the iSave v12.
While the iSave v12 is the cheapest deal on the market it has a £60 cancellation fee if you leave within the first three months, whereas Scottish Power’s fixed tariff has no early exit fees.
Here’s how these tariffs compare with Scottish Power’s latest deal (annual costs for average household):
- First Utility’s iSave v12: £1,054 (variable, rates can change)
- Scottish Power’s Online Fixed Price Energy April 2014: £1,140 (fixed until April 2014)
- Scottish Power’s Help Beat Cancer August 2015: £1,134
Scottish Power’s move comes as EDF relaunched its fixed tariff, the Blue+ Price Promise tariff, which also comes without early exit penalties and is fixed until May 2014. The EDF tariff will cost the average household £1,143 a year.