As we've warned before, the cheapest energy deals are disappearing fast. Plus, we've seen four of the big six hike their prices TWICE this year, leaving millions facing higher bills. This is why we've shouted about switching for years as the cheapest deals are for those who act. So do a five-minute energy comparison – most could save £270/year.
1-Now's a great time to switch energy tariff – prices are up this year
All of the big suppliers have hiked prices this year, including four which have hit customers twice...
British Gas increased its standard variable tariff for the second time on 1 October. Prices rose by 4%, adding £44/yr to a typical dual-fuel bill, to take it to £1,205/yr. It follows a 5.5% rise in May.
EDF raised its standard prices for the second time on Friday 31 August. Prices went up up by 6% – adding an average £70/yr to take its typical standard dual-fuel bill to £1,228/yr. This follows a 1.4% hike on Thursday 7 June.
E.on hiked its standard prices by 4.8% on Thursday 16 August. Typical dual-fuel bills have risen by £55/yr, from £1,153/yr to £1,208/yr. E.on also scrapped a £20/yr dual-fuel discount and £5/yr per fuel paperless billing discount on Thursday 19 April.
Npower hiked its standard variable tariff by 5.5% on Sunday 17 June. Typical dual-fuel bills have risen by £64 from £1,166/yr to £1,230/yr.
Scottish Power hiked its standard tariff for the second time on 8 October. The 3.7% average rise added £46/yr to a typical dual-fuel bill, increasing the price from £1,211/yr to £1,257/yr. It last increased prices in June by £64.
SSE raised its prices by 7.8% – including a 6.7% hike to its rates plus the removal of a £6 per fuel annual discount – on Wednesday 11 July. Its standard tariff saw a rise from £1,109/yr to £1,196/yr based on typical use – an £87/yr increase.
If you're on a standard tariff with any of these companies it's likely you're massively overpaying.
What about Ofgem's Price Cap?
Energy regulator Ofgem is introducing a price on 1 January 2019 on all standard and default tariffs - see what does the price cap mean for our full analysis.
This means a typical user on a standard variable or default fixed tariff would pay a maximum of £1,137/yr on average, paying by monthly direct debit, or £1,221/yr for non-direct debit households – though your maximum will vary depending on where you live and how much energy you use.
There are still much cheaper deals available to switches, and with the level of the cap set to rise when Ofgem next review it in April, don't be fooled. You could save £100s/year by switching – see our Cheap Energy Club to find the best deal for you.
The winner depends on where you live and your usage, so use our Cheap Energy Club top picks comparison to find YOUR exact winner (plus £25 switchers dual-fuel cashback) – it only take five minutes. Here's an example of savings...
All of the big suppliers have hiked prices this year, including four which have hit customers twice...
British Gas increased its standard variable tariff for the second time on 1 October. Prices rose by 4%, adding £44/yr to a typical dual-fuel bill, to take it to £1,205/yr. It follows a 5.5% rise in May.
EDF raised its standard prices for the second time on Friday 31 August. Prices went up up by 6% – adding an average £70/yr to take its typical standard dual-fuel bill to £1,228/yr. This follows a 1.4% hike on Thursday 7 June.
E.on hiked its standard prices by 4.8% on Thursday 16 August. Typical dual-fuel bills have risen by £55/yr, from £1,153/yr to £1,208/yr. E.on also scrapped a £20/yr dual-fuel discount and £5/yr per fuel paperless billing discount on Thursday 19 April.
Npower hiked its standard variable tariff by 5.5% on Sunday 17 June. Typical dual-fuel bills have risen by £64 from £1,166/yr to £1,230/yr.
Scottish Power hiked its standard tariff for the second time on 8 October. The 3.7% average rise added £46/yr to a typical dual-fuel bill, increasing the price from £1,211/yr to £1,257/yr. It last increased prices in June by £64.
SSE raised its prices by 7.8% – including a 6.7% hike to its rates plus the removal of a £6 per fuel annual discount – on Wednesday 11 July. Its standard tariff saw a rise from £1,109/yr to £1,196/yr based on typical use – an £87/yr increase.
If you're on a standard tariff with any of these companies it's likely you're massively overpaying.
What about Ofgem's Price Cap?
Energy regulator Ofgem is introducing a price on 1 January 2019 on all standard and default tariffs - see what does the price cap mean for our full analysis.
This means a typical user on a standard variable or default fixed tariff would pay a maximum of £1,137/yr on average, paying by monthly direct debit, or £1,221/yr for non-direct debit households – though your maximum will vary depending on where you live and how much energy you use.
There are still much cheaper deals available to switches, and with the level of the cap set to rise when Ofgem next review it in April, don't be fooled. You could save £100s/year by switching – see our Cheap Energy Club to find the best deal for you.
Compare to find YOUR cheapest price (plus possible cashback)
The Cheapest Dual Fuel Deals (based on typical usage)
Find YOUR cheapest & YOUR SAVING via Cheap Energy Club
Find YOUR cheapest & YOUR SAVING via Cheap Energy Club
| TARIFF | SUPPLIER | COST/YEAR | EXIT FEE | CASHBACK VIA CHEAP ENERGY CLUB |
|---|---|---|---|---|
| Typical big six standard tariff | - | £1,221 | - | - |
| Cheapest deal (fixed for 12 months) | Utility Point | £903 | £30 / fuel | None |
| Cheapest long fix (34 months) | Engie |
£1,061
| £30 / fuel | £25 |
| Cheapest big six fix (12 months) | British Gas (1) | £1,052 | £30 / fuel | £25 |
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