The E.ON Next Fixed 12m v33 tariff costs an average of £1,597 a year. The tariff has a daily standing charge of 29.61p for electricity and 32p for gas. Unit charges are 23.38p per kWh for electricity and 6.10p per kWh for gas.
This new deal is £120 below the current energy price cap of £1,717, and will be available for two weeks from today (Monday 11 November), exclusively on MoneySuperMarket and MoneySavingExpert, and via E.ON directly.
Prices are fixed for 12 months and you’ll need to manage your account online. An exit fee of £50 per fuel will be applied if you change supplier before your tariff end date.
Ashton Berkhauer, energy expert at MoneySuperMarket, said: “We’re proud to offer our customers this new fixed rate tariff by E.ON – now the cheapest one-year fixed-rate deal on the market.
“By locking in a fixed rate, you can shield yourself from future energy price cap hikes and have a clear idea of what your energy costs will be.
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“In these uncertain times, fixing your rate can offer peace of mind and make budgeting easier.”
A fixed energy tariff is an energy plan that locks in the price of gas and electricity for a set period of time, usually one or two years. This is different from a variable tariff, where prices change based on the energy price cap
Ofgem’s energy price cap rose to £1,717 a year from 1 October. This was a £149 rise from the previous price cap or £1,568 per year for the period from 1 July to 30 September. However, the current price cap is lower than the October to December period last year when it stood at £1,834.