Top energy tariffs for the new financial year

by Marghaid Howie on 01 April 2011  |  1 comment
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We take a closer look at some of the best energy tariffs to switch to....

It’s not just a new ISA you need to shop around for at the start of the new tax year. Energy tariffs are expiring or being withdrawn all over the show. The hundreds of thousands of customers on these expired tariffs had enjoyed a fixed rate which protected them from the harsh price rises we’ve experienced this winter. However, all good things come to an end, as the saying goes.

Customers will be rolled onto a new (and probably more expensive) version fixed tariff or the default standard tariff. Standard tariffs are the most expensive as they offer no online discounts or special offers – they can be up to £400 more expensive than the cheapest tariff.

However, because they are the default tariff, unless you actively apply for another tariff, millions of us are still stuck on these tariffs, often unaware. This is why it’s important to check your bill regularly to know when your tariff expires, or check that it hasn’t already expired and you’ve been put back on the standard rate.

Standard rates are always the first hit by price rises, and offer little protection. With more price rises predicted for later this year, finding the cheapest fixed tariff now could save you a lot of money.

Two of the cheapest have just been withdrawn, so here are the top six fixed rate tariffs remaining – act fast!

UK average across all regions: payment by monthly Direct Debit, dual fuel, based on standard usage figures as stated by Ofgem: 16,500kWh Gas and 3,300kWh Electricity usage

Compare energy tariffs at lovemoney.com