Energy giant, British Gas, is putting the cost of electricity up on its standard variable tariff by 12.5% from Friday 15 September.
The change will mean a typical household on a dual fuel tariff will pay £76 a year more for their energy, taking the average bill to £1,120.
Anyone sitting on their provider’s standard variable tariff is not only vulnerable to price hikes but is also almost certainly paying far too much for their energy. But there's no need to overpay.
If you want to save money and beat the hike you should switch to a new deal. Here’s where to find the cheapest gas and electricity tariffs on the market.
Compare gas and electricity prices. See if you could save big money
The cheapest energy deals
Here’s a round-up of the cheapest tariffs right now if you opt for both fuels from one supplier (known as dual fuel), pay by monthly direct debit and manage your account online.
The price includes both the unit rate and any standing charge.
|
Energy supplier |
Tariff name |
Type of tariff |
Average UK price* |
|
OneSelect |
OneSelect Secure one-year Fixed August 17 |
Fixed for 12 months |
£824 |
|
Green Network Energy |
GNE Italian Touch 12-month Fixed V8 |
Fixed for 12 months |
£831 |
|
Iresa Energy |
Flex4 12-month Fixed Direct Debit |
Fixed for 12 months |
£834 |
|
Iresa Energy |
Flex4 Standard Direct Debit |
Variable |
£834 |
|
Economy Energy |
Online Saver |
Fixed for 12 months |
£843 |
|
Breeze Energy Supply |
UK Fixed 1 Year v1 |
Fixed for 12 months |
£848 |
|
Tonik Energy |
Tonik Energy Positively Green |
Fixed for 12 months |
£854 |
|
Avro Energy |
Simple and Value |
Fixed for 12 months |
£857 |
|
Bulb Energy |
Vari-Fair |
Variable |
£867 |
|
Engie |
ENGIE Fixed Sept 18 v4 Paperless Billing |
Fixed until 30 September 2018 |
£873 |
Source: UK Power
*Prices based on average consumption as measured by Ofgem of 12,500kWh of gas and 3,100kWh of electricity and a customer paying by monthly direct debit including VAT.
Bear in mind the price of your energy will be based on your postcode and so may be more expensive, or even cheaper, than the ones listed.
Compare gas and electricity prices: you could save hundreds!
Other things to consider
Fixing your energy bills is a bit of a gamble, in much the same way as fixing your mortgage or savings.
That’s because prices could come down, which means you end up paying more than you would have done if you were on a variable or even a shorter-term fix.
Having said that, the general trend for gas and electricity prices is to only go one way and that’s upwards, certainly over the long term, although they may fluctuate within a year.
If there’s not much difference between companies, you might want to also consider how good each is when it comes to customer service.
The energy sector isn’t renowned for being brilliant when it comes to dealing with its customers.
To find out who’s receiving the most complaints right now, take a look at this analysis of the UK's worst energy providers.
Compare gas and electricity prices and see if you could save big money