Compare energy suppliers - the big six energy suppliers and more
There are currently around 60 energy suppliers that provide gas and electrcity to homes across the UK.
According to figures from Ofgem, the energy regulator, the number of suppliers peaked between March and June 2018, when there were more than 70 energy companies supplying domestic power.
Since then, we've seen a number of energy companies go bust due to a range of factors including the enegry price cap and rising wholesale energy prices.
Even so, there is still a wide variety of energy companies to choose from, each with their own unique selling points, tariffs and price ranges.
Let's take a look at the UK's main energy suppliers to help you change energy supplier and save on your annual energy bills - remember, the cheapest energy supplier may not necessarily be the best energy supplier for you, so always weight up the pros and cons of each energy company before making the switch.
Who are the Big Six energy suppliers?
Britain's largest energy suppliers are known collectively as the 'Big Six', and between them they supply gas and electricity to over 50 million homes and businesses across the UK.
The Big Six are also the UK's longest running private energy suppliers, having all formed during the 1990s following the passing of the 1989 Electricity Act, which paved the way for the privatisation of the energy sector.
Energy supply isn't all about the Big Six though - a growing number of smaller independent suppliers have been entering the UK market since 1997, with the aim of providing real competition for the major providers and creating a fairer market for consumers in the process.
UKPower compares all suppliers for the home energy market, so you can be sure we'll find you the best deal on gas and electricity.
The Big Six Energy Suppliers
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What other energy suppliers are available?
The Big Six may be the UK's biggest and best-known energy suppliers, but that doesn't necessarily mean they're the best - the growing number of smaller energy suppliers means there's a greater choice than ever, so make sure you shop around for the best deal on gas and electricity.
You may even find these less well-known providers not only offer the best gas and electricity rates, but also better customer care and after-sales service.
Other energy suppliers
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Usio Energy entered the market in 2017. They are a small gas and electricity supplier based in London. |
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Utility Point were formed in 2017 and entered the energy market in 2018. They are a small gas and electricity supplier based in Dorset. |
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Are the Big Six the cheapest energy suppliers?
Although they're the most established energy companies, the Big Six are rarely the cheapest or the most trusted - because they tend to all raise their prices areound the same time, they're often accused of using their high profile and levels of control to unfairly raise gas and electricity prices.
Such accusations have proven to be unfounded, following investigations by both Ofgem, the energy regulator, and the Financial Conduct Authority (FCA), both of which oncluded that all of these companies had acted reasonably and responsibly, with regard to the setting of their prices.
The Big Six have traditionally dominated the gas and electricity markets, but figures from Ofgem shows that more and more smaller energy suppliers are eating into their market share - a situation that has undoubtedly been helped by the ease with which people can compare energy deals and switch suppliers.
This increased competition means you can save hundreds of pounds a year on your gas and electricity bills, just by swithcing away from the Big Six, as the table below shows:
Payment method | Cheapest Big Six tariff | Cheapest market tariff | Saving |
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Direct Debit | £1,050.87 | £820.11 | £230.76 |
Prepayment | £1,028.21 | £945.76 | £82.45 |
Standard credit | £1,028.21 | £958.08 | £70.13 |
As you can see, significant savings can be made whether you pay your energy bills via Direct Debit, which is often the cheapest payment method, prepayment meter, or by standard credit, such as making monthly or quaterly payments online or at the Post Office.
How to compare and switch energy companies
If you've never changed supplier before, you'll probably find it's a lot easier than you expected to switch energy, it's - just grab a recent energy bill and enter your postcode in the box at the bottom of the page to instantly compare the best deals currently on offer.
For the most accurate comparison results, take a look at your latest bill and input the necessary information about your household's energy usage. Don't worry if you don't have those details to hand though, you can still run a comparison using estimations based upon the type and size of your house.
Then simply review your options, pick a tariff that suits and confirm your switch online. Your gas and electric comparison website will then handle the rest of the switch with your supplier.
And that's it, the switch should take 17 days - that's three days for the switch, followed by a 14 day cooling off period.
If you're worried about having to pay exit charges for ending your current deal early, bear in mind it's possible to switch without paying any fees up to 45 days before your deal ends.
And remember, switching supplier doesn't involve any drilling at your property, or new pipework being installed - your gas and electricity will be still be supplied through the existing pipes and cables, you'll just be billed by a different provider.
How to switch energy supplier
Switching energy supplier is a quick and easy way to save money on your monthly gas and electricity bills. Enter your postcode below to run an energy price comparison