Lloyds Bank customers have woken up to a surprise £151 boost on Wednesday, as the bank launches an exclusive fixed energy deal with E.ON Next that undercuts the current price cap by £151 per year for a typical household.
Exclusive Tariff Details
The new 12-month fixed tariff costs £1,512 a year based on Ofgem average consumption figures, making it £151 cheaper than the current energy price cap of £1,663 and £80 cheaper than E.ON Next's best publicly available fixed tariff. It is currently E.ON Next's cheapest available tariff, the bank confirmed.
Customers can access the offer by logging into their Lloyds mobile banking app and visiting the Rewards space, where they can compare options and switch. Those who leave before the end of the fixed term would pay a £50 per fuel exit fee, in line with typical fixed energy deals.
Customer Concerns and Research
Households continue to look for ways to cut monthly outgoings. Lloyds research, undertaken by Yonder with an online sample of 2,101 UK adults aged 18+ between 1st and 3rd May 2026, shows 53% of consumers are worried about energy costs, while 65% are concerned about the rising price of everyday essentials.
The bank, which has branches in Birmingham, said the exclusive E.ON Next fixed tariff gives customers the opportunity to lock in lower energy costs for the next 12 months.
