News Column

Saturday Money: New this week

July 12, 2014

Miles Brignall Patrick Collinson



Energy:

EDF Energy has launched a tariff that offers prepay meter customers fixed-price energy for 27 months, with no exit fees. The Blue+Fixed Prepay October 2016 will cost an average of pounds 1,237 a year, the same as the current EDF Energy Standard Variable paid by cash or cheque. With only four fixed tariffs presently available on the market, customers on prepay meters have previously had only limited choice when it comes to fixing their energy prices. The deal is available to both new and existing customers.

Miles Brignall

Electricity:

Co-operative Energy, part of the

Midcounties Co-operative, has started allowing its customers to choose where the electricity they consume is generated. The company currently has power-purchase agreements with around 30 generators, 15 of which are owned by the local community - including wind farms in Cumbria, Oxfordshire and the Forest Of Dean in Herefordshire. The Co-op is promising its customers that it will buy enough units from each source to match their choices over the course of a year.

Miles Brignall

Borrowing:

Sainbury's Bank has joined the personal loan price war, cutting interest you have to pay on sums up to pounds 15,000 to as low as 3.9%. It matches HSBC's move in June, when the bank sliced its personal loan rate to lowest-ever levels. Tesco almost immediately cut its cheapest loans from 4.5% to 4.1%, and now Sainsbury's has gone a step further.

But there's a catch - the 3.9% rate is

only available until 22 July. Rates on smaller loans of pounds 5,000 to pounds 7,500 are also being cut, from 5.6% to 5.3% if repaid over a three-year period.

Patrick Collinson


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Guardian (UK)


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