Cheapest energy tariffs all under £1,000 a year

If you're looking for a new energy tariff, here are the cheapest options available right now

Updated: 
If you're looking for a new energy tariff, here are the cheapest options available right now

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 supplierTariffType of tariffAverage annual cost
Extra Energy Merry Christmas Fixed Price Jan 2016 v1Fixed (until January 2016)£950
Extra Energy Fresh Fixed Price March 2016Fixed (until March 2016)£950
First UtilityiSave Fixed March 2016 v41Fixed (until March 2016)£951
Co-operative EnergyFair & Square Feb 2016Fixed (until February 2016)£960
First UtilityiSave Fixed March 2017Fixed (until March 2017)£960
Extra EnergyBright Fixed Price March 2016 v1Fixed (until March 2016)£961
npowerFixed Energy Online April 2016Fixed (until April 2016)£963
ScottishPowerOnline Fixed Price Energy January 2016Fixed (until January 2016)£970
Ovo EnergyBetter Energy FixedFixed for 12 months£973
Green Star EnergyRate Saver 12 Month Fixed 1512Fixed for 12 months£987


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.

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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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