The Co-operative Energy has launched two fixed price deals, until the end of March in 2015 and 2016.
The company’s March 2015 deal will cost the average household £1,168 a year, which is currently the cheapest fixed price deal on the market.
Ramsay Dunning, group general manager at Co-operative Energy said there has been a “surge” in customers switching to fixed energy deals, and this led to the Co-operative Energy adding a one and two year fixed deal to run alongside their three year fixed tariff.
Good Energy has also announced a price freeze until 31 March 2014, and the company said it has taken this decision because “the majority of its external costs are not rising until 1 April 2014”.
Ecotricity has extended its fixed price tariff from the end of the year until “at least” the end of March next year.
Vince Dale, founder of Ecotricity, also warned “If we continue the way we are now, we’re going to see energy bills increase significantly over the next decade – we could even see them double.”
Dale added that renewable energy provides a “shield” to customers from price hikes “that come with a reliance on the fossil fuel market”.
He said: “We’re not just making greener energy, we’re making cheaper energy – and we’re demonstrating how that works now by freezing prices until the end of winter.”
The new fixed tariff deals have been hailed as “fantastic news” and a “welcome indication of what real competition could achieve” by Tom Lyon, energy expert at Uswitch.com.
He added: “The deals are there and it’s in the hands of consumers to snap them up and fan the flames of competition.
“Only with a healthy competitive market will we see suppliers battle it out to offer the cheapest plans, superior services and to drive costs and inefficiencies down.”