Posted on 24th September 2013 by Alex Heys
So, it’s predicted that British Gas will raise their prices by between 8% and 10% in the coming weeks. Most of the larger suppliers will, on past form, follow suit. That kind of rise, more than 3 times the rate of inflation, adds about £100 to the average dual fuel bill.
That’s £100 of spending power, multiplied by millions of customers, sucked out of the economy when it needs it most. And, of course, it means genuine suffering for people – about 70% of people apparently went without heating on occasion last winter, to keep their bills down.
This kind of price rise proves two things when it comes to home energy: it’s incredibly important to shop around to find the best deal and, in the right situation, it’s extraordinarily beneficial to grab yourself a fixed price tariff.
Not wanting to blow our own trumpet (well, maybe a little) but look at our Thames tariff. When it was available, it was the cheapest fixed rate tariff in the UK, saving customers who switched an average of £167 a year. And, because it is a fixed rate tariff, every time prices go up, our customers save more – another £100 based on the figures above. Which means that more and more money is left in Flow’s customers’ pockets – and in the real economy.
Of course, Flow is a very different energy company to the Big 6 energy suppliers. Our business model doesn’t rely on extracting the maximum value from simply supplying home energy to customers. The Flow micro-CHP boiler is the core of our business and it means our success can be built on something much more positive – a UK-designed technology that allows us, as an integrated energy services company, to actually reduce customer bills and carbon emissions while supplying customers with their home energy. It’s a world away from the efforts of the Big 6 and it’s one of the many things that sets us apart.