Cheapest energy 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.
Energy supplier | Tariff | Type of tariff | Average annual cost |
E.ON | Energy Fixed One-Year v14 (paperless billing) | Fixed (for 12 months) | £922.99 |
E.ON | Energy Fixed One-Year v14 (paper billing) | Fixed (for 12 months) | £932.99 |
Extra Energy | Fresh Fixed Price January 2016 v6 | Fixed (until January 2016) | £934 |
Extra Energy | Clear Fixed Price March 2016 v3 | Fixed (until March 2016) | £935 |
First Utility | iSave Fixed March 2016 v42 | Fixed (until March 2016) | £935.49 |
Extra Energy | Bright Fixed Price January 2016 v7 | Fixed (until January 2016) | £937 |
Co-Operative Energy | Fair & Square March 2016 | Fixed (until March 2016) | £938 |
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 |
Source: lovemoney gas & electricity comparison centre. Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200 kWh of electricity and a customer paying by monthly direct debit including VAT.
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.
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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.
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