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Fixed price tariff offered to homes that use heating oil

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Homes that rely on oil for their heating have been offered a fixed price tariff for oil in what has claimed to be an industry first yesterday.

Fuel company Craggs Energy said its new tariff will stop people being “at the mercy of a fragmented market” and “unpredictable pricing” from suppliers.

Most of the 1.5 million customers which need heating oil tend to be in rural areas but the home heating oil market is unregulated.

It is “not unusual” for the cost of a tank of oil to rise between a customer ordering and supplier delivering only a few days later, according to Lancashire-based Craggs which launched in September 2011.

The company seems to be taking on heating oil firm Certas Energy (formerly GB Oils) which apparently owns 65% of UK suppliers.

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