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OSLO (Reuters) - Power and gas distributor E.ON has launched a new dual fuel fixed tariff for Britain, tracking the average price of all energy tariffs in the market, the company said on Thursday.
The new tariff, called Cap and Track, is set to be 100 pounds ($127.04) below the market average for a dual fuel consumer who consumes an average of 12,500 kilowatt-hours (Kwh) of gas and 3,100 Kwh of electricity annually.
On Thursday, the average price, based on Ofgem average annual consumption for unrestricted electricity across all regions, was 955 pounds, the company said.
The duration of the capped price tariff is 12 months, E.ON said.
Reporting by Lefteris Karagiannopoulos; editing by Jason Neely