UK Money News
22nd July 2008
Choose capped-rate deals to beat price hikes
Consumers can limit the impact of prospective hikes to energy tariffs by opting for capped-rate deals, it has been claimed.
Personal finance site Fool.co.uk predicts that energy giant British Gas could hike its gas and electricity prices by the end of the month and that prices will continue to stay high for the foreseeable future.
David Kuo, head of personal finance at the site, said that in these circumstances capped-rate deals are prudent since they mean that consumers will be protected during the term of their contract.
He said: "Capped-rate deals may not be the cheapest tariffs on the market, but they will look a bargain in a few months' time.
"Energy prices are rising and are likely to remain high for some time. However, opting for capped tariffs is more than taking a bet on the direction of energy prices. It is knowing for certain how much your outgoings will be for the term of the deal."
Since the start of the year all of the UK's so-called big six energy companies have imposed double-digit increases on their tariffs.
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