Big six energy firms undercut by start-up

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* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

There has never been a better time to use online price comparison sites to find the best electricity and gas deal and switch supplier.

With wholesale energy prices at a three-year low, energy firms are starting to slash their retail prices and being on the right tariff could save consumers money.

But it's not just the big six that are pushing down their prices.

OVO Energy, a fairly new firm on the scene, has undercut the UK's leading dual-fuel energy suppliers.

The Gloucestershire-based company said: "We went around the world to find the best technology systems and spent months finding the right people for our team."

But with competition now coming from smaller companies, it is only a matter of time before energy suppliers drop their prices further.

According to new research conducted by ICIS Heren, electricity and gas prices have been slow to come down following repeated cuts in wholesale costs.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

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