Hurry up: Today's the day to switch energy tariffs

by Mark Vickery on 31 October 2011  |  1 comment
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Npower is offering £100 M&S vouchers to switch to its Go Fix 8 tariff (£50 if you switch just gas or electricity) for a limited time only. And until Thursday 3rd November we have an exclusive cashback offer on ScottishPower’s cheapest tariffs. With offers like these, it pays to switch!

It’s the day after the clocks change, which means it’s likely you’ll start using far more electricity and heating than you have in the past.

Today is therefore the best day of the year to think about switching energy tariffs - it’s your last chance, effectively, before your bills start rising dramatically!

The good news is, there are two special offers out this week which mean you can shave over £300 off your current bills.

Suppliers often offer freebies on their “premium” tariffs, which rarely make up the difference in price between that and the cheapest tariffs. However, these two offers do seem to be a genuine treat rather than trick.

The £100 in vouchers takes Go Fix 8 down to an average of £987, the cheapest tariff available - plus it’s fixed until Feb 2013! So even at a second year cost of £1,087, it is still almost £300 below the current typical bill. Particularly if you shop at M&S anyway, then this could be a great deal.

Equally, ScottishPower almost always has cashback offers on its more expensive tariffs, but our comparison service has an exclusive cashback on its two cheapest options. Even before cashback, Online Fixed Price Energy Jan 2013 was the cheapest fixed tariff.

Meanwhile, Online Energy Saver 16 is the second cheapest deal around, so this extra £30 off would make it the cheapest variable tariff, in case you’re wary of fixed rates (although in our opinion there’s no need to be at these prices!).

The cheapest tariffs available

Here is an update on the cheapest tariffs available. But remember, the ScottishPower cashback is only available until the 3rd November and the npower voucher deal will probably be removed as soon as they run out!

Compare energy tariffs at lovemoney.com

* based on typical tariff costing £1,345 per year. All calculations are for a yearly average usage dual fuel household paying by monthly direct debit. Average usage defined by Ofgem as 16,500 kWh p.a. of gas and 3,300 kWh p.a. of energy