Budget Energy have made a move to shake up the local market with a fixed price electricity tariff that should appeal to people who would like more control over how much they will pay.
With uncertainty around energy prices and some suppliers increasing prices many people may be nervous about rising electricity bills heading into winter. But what if you could lock in the price of your electricity at a guaranteed rate for the next twelve months?
That’s what Budget Energy are offering with their new Keypad Budget Advantage tariff.
With this deal the price of your electricity is fixed for one year and is guaranteed not to increase. So even if energy prices continue go up, you will remain on the same rate throughout the full term of your contract.
On top of the fixed price rate customers signing up to this offer will also receive £100 credit added to their account.
What’s the deal?
The ‘Budget Advantage’ tariff is the first time an electricity supplier in Northern Ireland has offered a fixed price deal.
So, what is the offer and what might it mean for your pocket…
|
Tariff Name |
Electricity Unit Rate* (pence per kWh) | Standing Charge* (pence per day) |
Cash- back Offer | Contract Length | Payment Method | Tariff Type |
Early Exit Fee |
| Budget Advantage tariff |
18.67p |
10.034 | £100 |
12 Months |
Keypad | Fixed Price |
£40 |
(*Inclusive of VAT)
If we take the Fixed Price tariff rate, standing charge (which Budget Energy charge separately) and include the £100 cashback this means the cost of an annual bill would be….
- Low Electricity Usage (2,000kWh) – £310 per year
- Medium Electricity Usage (3,200kWh) – £534 per year
- High Electricity Usage (4,900kWh) – £851 per year
Who is the deal for?
At the moment the ‘Budget Advantage’ tariff is currently only available to Keypad customers – they make up almost 90% of Budget Energy customers. It’s also available to all new customers as well as existing Budget Energy customers who are out of contract.
Fixed or Variable?
Whether you choose a fixed price tariff, or a discount / variable tariff will really depend on what you like in terms of a deal – do you want a discount rate, cash-back or the security of a fixed price.
The price you pay for certainty with this fixed price tariff is a higher unit rate to begin with – but this may suit people who don’t mind paying a bit more to have certainty over their bills for the next year – and if electricity prices in the market increase they will be protected as they will have locked in their price.
And with the £100 cashback bonus included it all adds up to a deal worth considering.
Helping you decide….
The best electricity deal for you will depend on several things such as how much energy you use, how you pay and also what you like in terms of a deal. There is no right or wrong option. It’s about switching to the best deal for you.
The fact is if you have never switched or it’s been a while then you will save money by switching. The best thing is to use www.powertoswitch.co.uk to compare all suppliers and deals available right now. It’s quick and easy – just enter a few simple details and we’ll make sure you find the cheapest deal and save money!
