Who is the cheapest energy supplier in the UK?
If you’ve ever wanted to know who the cheapest gas and electric suppliers are, or you just want to find out the cheapest energy tariffs currently available, then you need to compare gas and electric prices online.
Each energy supplier has a number of different tariffs available, all with different features and price ranges, which can vary according to tariff type, how you pay your bills, and even by which part of the country you live in.
Why compare gas and electric prices and switch supplier?
The only way to make sure you’re on the best deal for gas and electricity is to run an energy price comparison.
It really does pay to shop around – research from Ofgem, the energy regulator, has found that comparing and switching supplier or energy tariff can make a significant difference to your gas and electricity bills, with customers reporting savings of around £300 a year.
While data from uSwitch, UKPower’s switching partner, shows that comparing the cheapest energy tariffs and switching with us could knock as much as £477* off your annual energy bills.
If you’ve never compared tariffs or switched to a cheap gas and electric deal before, you’ll definitely be overpaying for your gas and electricity. This is because your supplier will have placed you on its standard variable rate tariff (SVT), a default price plan that will most likely carry the most expensive rate.
What is a variable rate energy tariff?Variable rate tariffs are often the default option offered by energy suppliers and, as the name suggests, rates can vary depending upon whether your supplier puts its prices up or down. They are often more expensive, and prices can change at any time.
Another problem with SVTs is that the rate you pay is linked to market activity, meaning that if energy prices go up, so will your monthly bills, even if there’s no change in the amount of gas and electricity you’re using.
That’s why is makes sense to switch to a fixed-rate deal, which will not only be more competitively priced than the variable tariff you’re on, the rate you pay is also fixed, meaning your bills will only go up or down depending upon how much energy you use, and not because your supplier has been hit with higher prices.
What is a fixed rate energy tariff?Fixed rate tariffs are and increasingly popular option as they fix the rate you pay for the duration of the deal – meaning they’re a great way to protect against energy price hikes.
If you’ve been putting off switching because you think it’s too much hassle, think again – you can find a cheap gas and electricity supplier online in a matter of minutes, and be saving money within a couple of weeks, when the switch goes through. Here how easy it is to switch.
What is the benefit of a fixed price energy deal?
In general, the cheapest energy deals are typically fixed-rate online tariffs, which are paid monthly by Direct Debit.
It’s also usually the case that you’ll get a further discount for signing up to a dual fuel deal, which means the same supplier will provide both your gas and electricity. This arrangement isn’t suitable for everyone though, so it’s best to run a cheap energy comparison to find a deal that best suits your circumstances.
You only need your postcode to compare quotes and find the cheapest gas and electric supplier in your area – we can estimate your annual usage based on the size of your house – but to get the most precise quotes, it’s best to have your latest energy bill to hand so you can enter accurate energy consumption details.
And don’t be surprised if you have to change energy supplier to get the best gas and electric deals, and to a company that isn’t one of the Bix Six – gas and electricity companies regularly change their available deals, and the best prices can often be found with smaller suppliers.
What is a dual fuel tariff?A dual fuel tariff is when you sign up to have your gas and electricity supplied by the same company, and can be offered as both fixed and variable rate deals.
Who is the cheapest energy supplier right now?
Energy prices are always changing, and even the cheapest energy provider will regularly introduce new, more competitively-priced tariffs to draw in new customers. So, running a price comparison is the only way to find out who is currently the cheapest energy supplier around.
Fixed rate gas and electricity tariffs are usually among the cheapest energy deals on the market, and almost always cheaper than standard variable rate plans, which act as each supplier’s default tariff that you’ll automatically be placed on once your fixed-rate deal ends.
That’s why it’s so important to shop around and switch before your current deal ends – if you roll over to a standard variable deal, you’ll end up paying more for your energy.
Fixed rate energy deals usually last for between 12 and 18 months (though longer deals may be available), and ensure that you pay the same rates for your gas and electricity for the duration of the deal.
It’s worth noting that only the unit price is fixed, so the amount you pay each month will still go up and down, depending upon how much energy you’re using.
And because these deals are fixed for an agreed term, you may have to pay an exit fee if you want to leave your arrangement early – if you want to switch to a new deal before your current one ends, first work out whether you’ll actually save money once the exit fees have been factored in, if not, it may be worth sitting on your existing deal until it expires.
How to find the best energy deals
UKPower has been helping people switch to the best energy deals for over a decade now, and switching energy supplier couldn’t be simpler – just enter your postcode in the box at the top of the page, and you’ll be taken to our comparison tool.
Enter a few more details on your current energy deal and annual usage – if you don’t have this to hand, we can run a comparison based upon the size and type of property you live in – and we’ll show you a list of deals that could knock hundreds off your annual energy bills.
You just then pick the deal that’s right for you, and we take care of the rest. Finding cheap energy deals to help cut your bills really is that simple.