UK householders fall behind in securing capped energy tariffs

Reports indicate UK consumers have lagged behind in terms of inexpensive energy deals. In eventuality, consumers in Britain have fallen behind in securing a capped tariff ahead of recent price increases.

Research firm, Fool.co.uk revealed 54% of UK homeowners were not fast enough to get past the rate rises and failed to post and apply for a reduced energy tariff. Nonetheless, the research firm also showed that several thousands succeeded in offsetting some of the rising energy costs.

Big energy firms like British Gas, Scottish Power, EDF, said recently that drastic hikes in their rates in August led to consumers scrambling for the lowest tariffs that were available even before the additions in rates were enforced. Analysts say that this was the result of panic among consumers.

As increasing cost of living coupled with soaring food prices, not to mention mortgage rates, nearly 25% of all Brits managed to find a capped rate that takes care of some relief from energy costs. On the other hand, more than 50% of all Brits missed the capping tariff.

Reports say that although a capping tariff does indeed translate into security in terms of price spikes in the future, there is no surety of prices for electricity and gas once the deals have come to a close. However, not all Brits were thrown off by soaring energy costs since capped deals are not necessarily the most inexpensive option in the near future. Some UK residents, however, were more comfortable with sacrificing cost security, and took advantage of cheaper alternatives - 23% of households.

Please visit www.edfenergy.com, www.britishgas.co.uk, www.fool.co.uk and www.scottishpower.com for more