Kent Energy Deal
Kent Energy Deal has been in operation since collective energy switching began in the UK in 2013. Kent Energy Deal is a partnership between Kent Councils and iChoosr to help residents save money on their energy bills by using combined buying power to access highly competitive tariffs. Dartford, Dover, Gravesham, Tonbridge & Malling and Tunbridge Wells are the partner Councils that run the scheme, however online registration is open to any resident no matter what District/ Borough they live in.
The Energy Deal Scheme could help you save money on your energy bills and reduce your carbon emissions. The more households taking part, the better the chances of securing a competitive energy deal.
It’s free to join and you don’t have to accept the winning offer. We aim to save you money by negotiating on your behalf to bring down the cost of your energy.
Important information about the Autumn auction held on 12th October
Why was there no offer in October?
After running our auction on October 12th, it became clear that none of the tariffs secured were a better option for any of our customers than simply staying on their Standard Variable Tariffs. Usually, Standard Variable Tariffs are the most expensive on offer, and we use our auction to obtain great value fixed rate tariffs for our customers.
However, in order to stop the Standard Variable Tariffs reaching excessively high prices, Ofgem imposes a tariff cap on them, which limits the amount suppliers can charge. This tariff cap is announced two months before it comes into place, and is based on wholesale energy prices from the previous 6 months.
As wholesale energy prices have risen so quickly and dramatically this year, the new tariff cap that came into force on October 1st is now keeping the Standard Variable Tariffs artificially low, and at present suppliers are actually losing money on these tariffs.
As fixed tariffs do not have any such cap, they are priced much higher than current Standard Variable Tariffs and reflect the actual situation in the wholesale energy market more accurately.
Given this extremely unlikely scenario, no supplier’s fixed tariff will currently be close to offering the same value as the Standard Variable Tariff, so there is no benefit at this moment to switching.
So what should you do?
If you are on a Standard Variable Tariff: don’t switch.
We would suggest you might want to stay on your Standard Variable Tariff. Your current energy supplier may offer you a fixed tariff which you might consider accepting if it is cheaper than remaining on the Standard Variable Tariff. This is unlikely right now.
If you are on a fixed tariff: don’t switch.
Assuming you fixed your tariff before the recent rises in the market, this is likely to represent a good deal compared to what is in the market now, so you will want to stay on your fixed tariff until the end of your contract.
If your contract ends before our Winter auction in February, your energy supplier will move you to its Standard Variable Tariff if you do not switch. Your current energy supplier may offer you a fixed renewal tariff which you might consider accepting if it is cheaper than remaining on the Standard Variable Tariff. This is unlikely right now.
You can participate in our February auction by registering in the How to take part page.