Energy market heading in right direction says Jamie Parks of Muuvo
Jamie Parks of leading utility switching platform Muuvo has welcomed the recent news in regards pre-payment meters no longer having a higher tariff applied to them, that will see the average household on a pre-payment meter pay around £45 a year less.
Jamie says: “Pre-payment customers have long been penalised on costs. This change will benefit those lower income/benefit customers that budget with pre-payment meters or have had one installed due to difficulties paying their energy bill.
It will now cost the same as standard monthly/quarterly billing. Direct debit customers may still benefit from the cheapest prices but this change for pre-payment customers will no longer leave them behind paying more and the early signs are that rates between pre-payment and direct debit are levelling out.
Energy prices on the wholesale markets have been falling in recent months and there was more good news in the recent Budget when it was announced that the price cap would be extended until
June 2023.
It is now anticipated that actual prices should be below the Government price cap in the second half of the year and this will make it important for letting agents and tenants as well as homeowners to, once again, review their options and start looking for the best deals in, what is anticipated, will become a highly competitive market once again.
The Budget, whilst never being likely to satisfy everybody’s personal wishes, has continued to pave the way to a more competitive and, ultimately cheaper energy environment. With the UK looking set to avoid recession and with inflation forecast to rapidly reduce in the second half of 2023, now is a great time for agents to help home movers further by encouraging the review and reset of their energy costs.
As the market opens up, there will, once again, be a wider choice of market options for new residential movers and on business energy costs for letting agents and commercial lettings.”
There are also multiple options again on broadband and after recent price increases seen for most of the market, I would stress the importance of shopping around for the best deals.
There are many excellent new customer deals when compared with current standard contracts particularly where previous “good deals” have expired after an initial 12-18 month period.
The Muuvo platform is free to use and can provide quotes and fully automated switching in just a few clicks, saving agents and home movers considerable time, as well as ensuring the most attractive tariffs and costs. We also provide access to all existing supplier data that enables easy comparisons and provision of relevant information to all parties in a fast and timely manner. This is crucial in terms of upfront information provision in both sales and lettings and in speeding up and efficiently
setting up new tenancies on rental properties.
In a fast moving market that has seen energy costs soar over the last year, there is now some light at the end of the tunnel and agents can help their customers and clients take advantage of an
improving environment.”
www.muuvo.co.uk
You May Also Enjoy
Hodge Bank introduces 80% LTV on Interest Only Mortgages, helping borrowers maximise their affordability
The end of the ‘Forever Home’? 63 per cent of young homeowners prioritise flexibility and renovation potential over permanence
Ignoring these simple winter property maintenance tasks could cost you big time
Half of first-time buyers delaying until after the Budget
Moneyfacts Average Mortgage Rate dips below 5%
