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Which energy tariff is the cheapest?

Mark Vickery
by Lovemoney Staff Mark Vickery on 17 November 2011  |  Comments 5 comments

This week has seen more of the best energy tariffs pulled. So which energy tariff is now the cheapest?

Which energy tariff is the cheapest?

The regulator has told suppliers to reduce the confusing array of tariffs on offer, and British Gas has this week cut its offerings down to four core tariffs: online, fixed, green and standard.

Annoyingly, however, British Gas also has taken this opportunity to push its tariffs right down the league of cheap tariffs. Boo!

Unfortunately, this seems to be the trend at the moment, with other suppliers also replacing their cheapest deals with slightly more expensive versions. This week, for example, Scottish Power pulled the cheapest fixed tariff and replaced it with Online Fixed Price April 2013, with rates fixed for 3 months longer than its predecessor - but £75 more expensive!

If more suppliers follow the lead of British Gas and Scottish Power, all tariffs could soon end up at near-standard rates of £1,200-£1,300 a year! So if you want to bag a bargain rate, our advice is to get switching now.

Get a £100 voucher from npower

In better news, the npower £100 voucher offer has stuck around longer than expected. Anyone switching to its Go Fix 8 tariff (except customers already on the tariff) will receive a £50 Love2shop voucher per fuel. The vouchers can be spent in a wide range of high street shops.

Here are the current cheapest tariffs based on average cost - you can apply for all of the tariffs via our energy centre. Bear in mind it’s best to compare bills for your postcode to find your best option.

 

Supplier

Tariff

Annual Cost

Typical Saving*

Notes

1

first:utility

iSave v9

£1,030

£315

 

2

npower

Sign Online 24

£1,050

£295

 

3

EDF

Fix for 2012

£1,051

£294

Fixed until end of 2012

4

npower

Football 45

£1,066

£279

 

5

ScottishPower

Online Energy Saver 17

£1,085

£260

 

6

npower

Go Fix 8 with Vouchers

£1,087

£258

Fixed until 3rd Feb 2013. £50 per fuel Love2shop vouchers

7

ScottishPower

Online Fixed Price Energy April 2013

£1,095

£250

Fixed until April 2013

8

EON

Save Online 11

£1,106

£239

 

9

Ovo

New Energy Fixed

£1,115

£230

Fixed for 12 months

10

npower

Flex Saver

£1,123

£222

Capped until Feb 2013

11

EON

Energy Fit

£1,150

£195

 

12

British Gas

Online Energy

£1,167

£178

 

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 electricity.

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Comments (5)

  • Mike10613
    Love rating 599
    Mike10613 said

    If you're with Scottish Power just phone them up and ask for a cheaper tariff; no need to switch to an alternative supplier.

    Report on 19 November 2011  |  Love thisLove  0 loves
  • Qexit
    Love rating 12
    Qexit said

    Anyone thinking of switching tariffs/supplier should remember to factor in the exit costs from their existing deal before moving if they are not at the end of their contract.

    Also, everyone should spare a thought for those on really low incomes who have all been hit with massive price increases far beyond those introduced by suppliers as a result of the Government introducing the new Warm Home Discount scheme for which most cannot qualify due to the new criteria that have been introduced. Surprisingly, the only company that has set criteria that can be met purely on the basis of a low income is British Gas. This area is definitely worth a proper investigation by lovemoney.com.

    Report on 19 November 2011  |  Love thisLove  0 loves
  • oldhenry
    Love rating 265
    oldhenry said

    Do not forget that there is nothing so bad as the Government cannot make worse. It appears that this is the way with energy prices. What a brilliant solution the Government has to the energy problem - change tariffs. But to a higher one no doubt. The Government fail to admit that their absolutely mental energy policies are adding so much to our bills. However , they will not see the blood on their hands as people die of cold this winter.

    Report on 19 November 2011  |  Love thisLove  0 loves
  • Qexit
    Love rating 12
    Qexit said

    The only people adding money to our energy bills are the Utility Companies themselves in there unremitting drive to maintain or increase their profits. Everything else is just smoke and mirrors. They are the ones who will be killing people this Winter.

    Report on 19 November 2011  |  Love thisLove  0 loves
  • coloratura
    Love rating 61
    coloratura said

    Qexit - three cheers to you. You are absolutely correct.

    Also an extra cheer for Prince Philip this week (no I am not looking for a gong) who has said what rubbish wind farms are - they provide little energy for a lot of cost and some owners of wind farms even turn them off when the wind is blowing hard so that the noise created doesn't annoy the people living near them !!! What a farce.

    Report on 20 November 2011  |  Love thisLove  0 loves

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