Npower launches 'cheapest' energy deal

15/12/2009

A new best-buy gas and electricity tariff has been launched by Npower, undercutting the rest of the market by around £13 per year.

The firm's Sign Online 17 deal offers typical annual costs for dual fuel users of £907, down from the £920 offered by Ovo Energy, the previous chart-topper.

Npower has also undercut British Gas' Websaver 5 deal launched last week, which is to charge customers £928 per year.

Increased competition in the energy market reflects lower fuel prices on the wholesale markets.

However, customers tempted to sign up for Sign Online 17 are warned that withdrawing from the deal before 2011 carries penalties of £20 for switching gas providers and £20 for switching electricity.

Commenting on the launch, Scott Byrom, utilities manager at moneysupermarket.com, said: "We are clearly seeing a battle between providers for the top spot on the table.

"While this is not uncommon for the time of year, I would advise customers to keep their eyes peeled for further updates to the market. With the prospect of colder winter weather moving in and energy consumption increasing, it is crucial Brits move with the market to find the best energy deal for their region and usage."

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