By James Rodger
So Energy has launched So Dean, a competitive fixed tariff that undercuts both the current and upcoming So Flex rates. At launch, it ranks third on Uswitch 鈥 a clear indicator of its strength in the market. It offers British Gas, EDF, EON and Ovo customers 拢52 a year savings on the current price cap – which on top of the new 拢122 saving which kicked in on July 1 – means they could save 拢174. The average savings compared to so flex are, for 12-month tariff, 拢39/year cheaper, or for the 24-month tariff, 拢52/year cheaper. The 12 months tariff comes with an estimated annual cost of 拢1,679 (dual fuel, incl. VAT). Exit fees are 拢50 per fuel. READ MORE Rachel Reeves set to cut cash ISA allowance from 拢20,000 on July 15 The 24-month tariff is 拢1,666 (dual fuel, incl. VAT) and comes with 拢75 per fuel exit fees, households have also been told. Unit rates and standing charges vary by region and are displayed on customer renewal pages or in Nova. SO Energy is a UK based renewable energy supplier. Launched in November 2015 with the stated principals of “simplicity, honesty and great value”, it has grown steadily to become a medium sized energy supplier focussed on renewable energy. Today, the group鈥檚 stated mission is to 鈥渉elp customers achieve net zero by providing great value renewable energy solutions with simple, clear, outstanding service鈥. On Tuesday, Ofgem鈥檚 quarterly price cap took effect, reducing a typical annual dual-fuel bill by 7% to 拢1,720. It comes as Ofgem proposed a cost of equity of 6% for private investment in grid companies, up from 4.55% in the previous five years. National Grid, SSEN Transmission and Scottish Power are among the utilities submitting plans, and had asked for up to 6.9% in returns. SSE said Ofgem鈥檚 proposals for returns were 鈥渘ot commensurate with globally competitive market rates, robust market evidence, and the significant business risks of investing in electricity transmission鈥.