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The cheapest gas and electricity energy tariffs

Matt Ridout
by Lovemoney Staff Matt Ridout on 11 January 2013  |  Comments 2 comments

Make 2013 the year you cut your energy bills, with one of these market-leading gas and electricity tariffs.

The cheapest gas and electricity energy tariffs

With the New Year upon us, many will have made resolutions as they aim to make changes in the months ahead. Whether it is losing a little unwanted weight, quitting smoking, or taking up a new hobby the New Year brings with it the chance to start afresh and make a concerted change to your life.

For those who have resolved to cut their bills in the New Year it's worth remembering that one of the quickest ways to do so is by comparing and switching energy supplier.

Price rises across the board

All of the major energy suppliers announced price rises at the end of 2012, with E.ON’s price rise being the last to go live on the 18th of January. Millions of homes across the country will already be paying more for their energy than at the same time last year.

It is estimated that as much as 45% of the country have never switched their energy provider, meaning that almost half of the population are paying well over the odds for their energy.  This group of consumers could still see significant savings post-price rise. Likewise those who have switched before, but haven’t chosen a fixed deal in the past 12 months could still benefit from switching supplier as they will be hit by the prices as well.

The best way to combat the price rises is to take a few minutes and run a comparison of suppliers and deals available in your area. With many regional fluctuations in cost from one supplier to the next it is the most effective way to ensure that you are getting the best possible deal on your utilities.

For those worried about prices rising in 2013 there are still some very competitive fixed deals available which protect you from potential rises. Similarly for those who don’t want to be tied into a fixed deal there are still competitive online discounted tariffs available that could see you shave hundreds from your annual gas and electricity bills.

Why not take a few minutes to see if you could save money for the year ahead and compare energy suppliers now?

The cheapest energy tariffs

Supplier

Tariff

Average Cost

Saving vs Typical Bill*

Notes

First Utility

isave v14 (with Paper Billing)

£1,150

£250

Prices fixed for three months then variable. Cancellation fees apply

Co-op Energy

Pioneer

£1,157

£243

No cancellation fees.

First Utility

isave Fixed v6

£1,170

£230

Prices fixed until 30 April 2014. Cancellation fees apply.

OVO Energy

New Energy Fixed

£1,172

£228

Prices fixed for 12 months. Cancellation fees apply.

EDF

Blue +Price Promise June 2014

£1,182

£218

Prices fixed until 30 June 2014. No cancellation fees.

Compare energy tariffs

* based on a typical dual fuel tariff costing £1,400 (Source: Energyhelpline January 8, 2013). All costs 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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How to beat energy price rises

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10 weird ways to save money on your household bills

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Comments (2)

  • oldhenry
    Love rating 350
    oldhenry said

    I think the word 'cheapest' is rather mis-used here. there are no cheap tariffs available. Your table above shows a £30 difference between the top and bottom costs, hardly enough to get excited about.

    I would say the the majority of readers of this article and not on variable tariffs at the top of the cost league but have shopped around since the first day that was possible ( as I did ). So it is really game over for anything like afffordable energy. Just get used to cold houses as we did in the 1950s before we were conned into central heating and thinking it was an improved living standard deserveing of a great nation that had won the war and kept world peace.

    Not to be as many politicians have since muddied the waters to meddle with energy and they are not stopping anytime soon.

    Get ready for the £4000 a year energy bill.

    Report on 14 January 2013  |  Love thisLove  0 loves
  • Matt Ridout
    Love rating 0
    Matt Ridout said

    Hi oldhenry, you make some very good points however let me clarify that the table only shows the current top 5 cheapest tariffs on the market, out of hundreds that are available and is not representative of the difference in price between the cheapest and most expensive tariffs. This would be a difference of hundreds of pounds vs just £30 or so.

    With estimates suggesting that up to 45 percent of the country have never switched suppliers many households across the UK will still be paying unnecessarily high rates on standard tariffs, which could be redressed through comparing and switching suppliers.

    Report on 16 January 2013  |  Love thisLove  0 loves

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