The Sign Online 17 tariff carries a £907 annual cost. Npower has launched a new best-buy gas and electricity tariff, carrying an average cost for dual fuel customers of £907 per year.
The Sign Online 17 deal undercuts British Gas’ £928 Websaver 5 tariff, which was launched last week, and Ovo Energy’s £921 new energy plan, the previous chart-topper.
Npower’s decision to launch the deal reflects an increasingly competitive gas and electricity market, with price cuts driven by wholesale fuel market trends.
The tariff also offers a guarantee that prices will remain 2% or more below Npower’s standard gas and electricity deal.
However, customers are warned that the Sign Online 17 deal comes with £20 cancellation fees for both gas and electricity if customers switch to a new provider prior to April 2011.
On the other hand, British Gas’ Websaver 5 carries a discount rate of 6% or more from the firm’s standard tariff rates until February 2011.
Customers who wish to leave this deal before July 2010 are charged £30 if they transfer to another electricity provider and another £30 if they switch gas firm.
Npower retains 6.6 million gas and electricity customers throughout the UK, while British Gas has around 16 million.
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