Worried about future price hikes? Just Energy has launched some 24-month fixed-rate plans
These plans could help to give you some peace of mind.
Over the last few months we’ve seen a huge amount of price volatility in the energy market - largely down to the sharp rise in wholesale costs - which has resulted in most energy suppliers hiking their prices.
And the latest report from Naturgy shows that Irish wholesale gas prices were 55% higher in July of this year when compared to July 2017, while electricity prices were up 50% year-on-year, so the market shows no signs of slowing just yet.
Switch and save up to €331 on your energy bills
It only takes a few minutes to find a cheaper deal and start saving
If you haven’t yet switched to combat the summer’s price hikes, now is the time to do it, with savings of €331 available if you switch from standard tariffs to the cheapest dual fuel deal on the market.
However, as most plans on the market are variable rates, this means that if your new supplier decides to raise rates again, you will be impacted.
Just Energy 24-month fixed rate plans
If you don’t want to switch only to see bills rise again, you could opt for a fixed-rate energy deal.
At the moment, Just Energy is the only Irish energy supplier offering fixed rate plans, and it has just launched some 24-month tariffs, which will lock in your rates for 2 years from sign-up.
|Fuel type||Plan Name||Price|
|Electricity||Rate Saver - Fixed 24 Month (DD, Online billing)||€1,022||Compare now|
|Gas||Green Saver - Fixed - 24 Month (DD, Online billing)||€709||Compare now|
|Dual Fuel||Rate Saver - Fixed 24 Month (DD, Online billing)||€1,711||Compare now|
The main advantage of a fixed rate tariff like this is that it can give you some peace of mind and protection against any energy price hikes that might occur throughout the duration of your contract - in this case, 24 months.
However, bear in mind that fixed rate tariffs generally won’t be the cheapest deals on the market - and these are no exception. This is because the unit rates tend to be higher than discounted variable rates.
So you won’t make the maximum possible savings by switching to one of these deals, but you will be protected against hikes for the duration of your contract.
Switch and save now
Whether you decide to opt for a fixed-rate plan, or you are happy to go with a variable rate to achieve the maximum possible savings now, the main thing is to make sure you compare energy deals and make a switch to the plan that suits you best.
It only take a few minutes, and could save you hundreds of euro as we come into winter bill season, so it’s well worth taking the time.