Outfox the market has announced that it will be increasing the price of its variable tariff by 7.4%, meaning an average household can no longer get energy for less than £900 a year.
Outfox the market is the latest supplier to announce a price rise and they were the last of the suppliers offering an energy deal under the £900 mark. At the start of the year, there were around 18 tariffs under £900 and Outfox the Market was the cheapest amongst them.
However, this is the second price rise by the supplier, the first being a 6.4% rise back in June, meaning over the two price hikes, Outfox the Market has seen prices increase by £100/yr.
Who is affected?
As of the 1st November, around 50,000 customers on Out the Fox’s variable tariff and Whamm tariff will see their price rise.
Both the tariffs do not have any exit fees, so you can switch at any time.
Customers on the Outfox the Market’s Whack tariff wouldn’t see their price rise until the tariff deal comes to an end.
Commenting on the announcement, Shay Ramani, founder of Free Price Compare said, “Time and time again we have been saying that prices are on the up and customers should look to fixed tariffs. As a general rule, always stay clear of the energy suppliers’ standard tariffs as they are the most expensive option.”
Commenting on the price rise, Brad Goodfellow, Head of operations at Outfox the Market said, “We are one of the last suppliers to increase prices in the face of significant wholesale increases and we have done our best to limit the effect it has for our customers.”
How can FreePriceCompare help?
Switching to a cheaper energy deal is very easy with FreePriceCompare as you can actually compare and select the cheapest supplier from our results page in 5 minutes.
Once selected, FreePriceCompare will handle the whole process for you, including letting Outfox the Market know that you would like to switch energy suppliers. The whole process takes around 21 days and you are guaranteed to be never left without gas or electricity supply.
Please note if you are in a contract, you can be subjected to exit fees so you can either wait for the contract to come up for renewal or you can switch now if the savings are significant. Remember market tariffs can still go up in price, so if you can save a lot of money by paying the exit fees then it is worth a serious consideration.