[1andrew1]

Confirmation of what we're seeing.

UK energy suppliers quoting deals more than £700 above price cap

Comparison sites urge customers to stay with existing tariffs as gas surges higher still

British households are being quoted fixed-price electricity and gas contracts of more than £2,000 a year, the first time they have reached that level in at least a decade as wholesale gas prices continue to soar.

Companies including Eon, Ovo Energy, Outfox the Market and So Energy have been offering one- or two-year fixed dual electricity and gas deals that are more than £700 above the main price cap, which is regulated by Ofgem to protect 11m households and rose to £1,277 at the start of October.

Energy suppliers said the deals, based on average usage, more accurately reflect the current cost of providing households with electricity and gas.

Price comparison sites said they were now in the unusual position of advising consumers not to switch to new fixed deals and instead stick with tariffs protected by the price cap. Some price comparison companies had suspended energy comparison services given so few deals were on offer.

“We’re advising people to stay put,” said Richard Neudegg, head of regulation at the price comparison company uSwitch.

https://www.ft.com/content/e17a3f66-...5-20a3ac1e9c16