Cheapest gas and electricity tariffs

lovemoney.com
Cheapest gas and electricity tariffs
Cheapest gas and electricity tariffs



It's important to keep on top of the cost of your energy bills, particularly if you're on a fixed tariff that's about to come to an end.

Switching supplier is one way you can save money, and the switching process is improving all the time.

Here's a round-up of the cheapest tariffs right now if you opt for both fuels from one supplier (known as dual fuel), pay by monthly direct debit and manage your account online. The price includes both the unit rate and any standing charge.

Energy supplier

Tariff

Type of tariff

Average annual cost

Extra Energy

Fresh Fixed Price December 2015

Fixed (until December 2015)

£958

First Utility

iSave Fixed March 2017

Fixed (until March 2017)

£960

npower

Fixed Energy Online April 2016

Fixed (until April 2016)

£963

ScottishPower

Online Fixed Price Energy January 2016

Fixed (until January 2016)

£970

Ovo Energy

Better Energy Fixed

Fixed for 12 months

£973

Sainsbury's Energy

Fixed Price January 2016

Fixed (until January 2016)

£998

Extra Energy

Bright Fixed Price Dec 2015

Fixed (until December 2015)

£998

Green Star Energy

Rate Saver 12 Month Fixed 1410

Fixed for 12 months

£1,004

The Co-operative Energy

Fair and Square January 2016

Fixed (until January 2016)

£1,008

Sainsbury's Energy

Price Freeze January 2016

Fixed (until January 2016)

£1,031


Source: lovemoney.com gas & electricity comparison centre. Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200 kWh of electricity.

Bear in mind these are average prices for the whole of the UK, so they may not be the cheapest where you live. Indeed, the tariffs above may be cheaper in your part of the world.

You'll notice that there are only two tariffs in there from so-called 'Big Six' energy suppliers (npower and ScottishPower). So if you are with the likes of British Gas, EDF, E.On or SSE, it could pay you to shop around.

Compare gas and electricity prices

Other things to consider

Fixing your energy bills is a bit of a gamble, much in the same way as fixing your mortgage rate. That's because prices could come down, which means you end up paying more than you would have done if you were on a variable or even a shorter-term fix.

Having said that, the general trend for gas and electricity prices is to only go one way and that's upwards, certainly over the long term, although they may fluctuate within a year.

If there's not much difference between companies, you might want to also consider how good each is when it comes to customer service.

The energy sector as a whole isn't renowned for being brilliant when it comes to dealing with its customers.

Compare gas and electricity prices

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