M&S Energy has cut the cost of its Fix & Save fixed energy deal, making it the cheapest fixed tariff currently available.
The new deal is available to both new and existing customers and is £63 per year cheaper than previously. Fix & Save has been available since June.
To compare energy prices and switch to a cheaper deal as the colder months of the year approach, visit Which? Switch to find the best tariff for you.
New cheaper energy deals
The new cheaper M&S deal is the cheapest fixed tariff on the market at £1,139 per year, based on Ofgem’s average usage figures and averaged across all UK regions, and is fixed until September 2014.
This is £70 cheaper than the most expensive deal available – EDF’s Energy Blue + Price Promise at £1,209, which is also fixed until September 2014.
Fixed tariffs guarantee the same unit price for gas or electricity for a set time. They offer reassurance if you’re worried about rising energy prices.
However, they can be up to 20% more expensive than non-fixed tariffs as you won’t benefit from any price cuts by your energy supplier during the fixed period.
M&S Energy mis-selling
In April, M&S Energy (operated by SSE) was fined £10.5m for mis-selling energy deals.
Earlier this week, we reported that a M&S whisteblower claimed in-store sales staff used ‘all sorts of tricks’ to gain new customers for its energy deals. Staff used rough, often inaccurate, estimates of customers’ energy use to encourage them to switch suppliers.
M&S said this issue has been resolved and that its in-store sales now follow ‘best practice’.
Visit our review of the best and worst energy companies to see how M&S ranks compared with other providers.