460,000 British Gas customers are about to lose the protection of a fixed price plan that has kept their household energy prices frozen over the past five years.
According to data from uSwitch.com, the customers, who are all on British Gas’ Price Protection 2010 plan, have paid up to £473 a year less on average for their energy than other consumers. In total, this particular price protection plan has saved customers £1,153 (22%) over the past five years compared with the average standard plan, and £71 (2%) compared with cheapest online plan.
The average annual bill for the fixed price plan is £820 a year so when they took the plan out in 2005 customers were paying £85 a year more than if they were on the average standard plan. This premium soon disappeared though as household energy prices soared.
By June 2006, the fixed price plan was £95 a year cheaper than …
Read the original article at Totallymoney
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Tags: consumer, finance, Gas, house, money, pay, price
