Energy price cuts for customers on Standard energy plans have been minimal this year. The only area where suppliers have made significant price cuts is with their ‘Online’ plans. Price cuts for Standard plans have average out at just 4% in 2009, while online plans have enjoyed price cuts of a much heftier 12%. So when placed side by side, it looks like online plans could represent a huge saving for any customers still stuck on Standard plans.

Part of the reason for such large price cuts on online energy plans this year, has been introduction of new, smaller and more aggressive energy suppliers into the market. The newest entrants, OVO Energy and First Utility, have enjoyed a rise in profile as they offer some of the cheapest prices in the market and have seriously begun to challenge the status quo!

Actively shopping around for cheaper energy prices is something we all need to get on board with, if we are to tackle the potentially enormous increases to fuel bills over the coming years. The huge investment that will be required to improve the UK’s infrastructure, as well as the cost of hitting government targets on carbon reductions, will place huge upwards pressure on our energy bills. The onus will be on all of us to ensure that competition is working, and keep energy prices as low as possible.

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