Energy: Prices

Energy and Climate Change written question – answered on 4th March 2014.

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Photo of Caroline Flint Caroline Flint Shadow Secretary of State for Energy and Climate Change

To ask the Secretary of State for Energy and Climate Change pursuant to the answer of 29 January 2014, Official Report, column 575W, on energy: prices, what estimate his Department has made of the average yearly difference in prices between fixed price and standard variable tariffs for domestic consumers.

Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change, Minister of State for Portsmouth

There are a range of fixed price tariffs on offer to domestic customers. Short term deals tend to be cheaper than current standard variable tariffs, whilst longer term fixed deals tend to be more expensive. This is because supply companies take a view on how much prices will go up by in the future; It is up to individual consumers to decide if a fixed deal is better value for them.

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