Five cheapest energy deals for 2014Save cash this year by switching energy tariffs
03 January 2014
Want to get the new year off to a good start by saving some money? We reveal the five cheapest energy deals to help you cut your bills in 2014.
British Gas kicked off the year by cutting its gas and electricity prices by an average 3.2% - but that doesn't necessarily mean you should hurry to switch your energy to this giant.
While price cuts are always good news, this cut is small compared to the 9.2% price increase British Gas inflicted on consumers last autumn, and definitely doesn't mean that British Gas is offering the cheapest tariffs.
If you want to save money, take a look at the five cheapest deals below, then head to Which? Switch to compare gas and electricity prices to find the very best deal for your home.
Top five cheapest energy deals
For the average household, the the top five cheapest energy deals are:
- Spark Energy - Direct Debit Advance 3 = £1,024.73
- First Utility - iSave Fixed v14 July 2015 = £1036.96
- OVO Energy - New Energy Fixed + OVO Just Reward = £1,041.37
- Green Star Energy - No Worries Fixed 24 Month (Online) = £1061.47
- Green Star Energy - No Worries Fixed 24 Month (Offline) = £1071.97
These prices are based on Ofgem's new average consumption figures for those paying by monthly direct debit.
The cheapest deal for you will depend on how much energy you use and how you pay. British Gas says its average annual dual fuel bill is now £1,229.
A word of warning about Spark Energy...
All the top five cheapest deals above are fixed tariffs, except the Spark Energy tariff, which is variable (so the gas and electricity prices could go up or down).
It's also worth knowing that Ofgem is currently investigating Spark Energy because of complaints about billing issues, complaints handling and customer switching.
Price isn't the only thing you need to consider when choosing an energy company - find out which gas and electricity suppliers customers are most satisfied with, in our energy companies satisfaction survey. Spark Energy doesn’t feature due to its small size.
Variable or fixed energy deal?
It’s important to pick the right type of tariff for your needs. Fixed deals offer longer-term peace of mind but can be up to 20% more expensive than variable tariffs.
Our energy tariffs explained guide can help you work out what type of tariff will best suit you.
- Explore other ways to cut your energy bill
- Find out more about the energy efficiency scheme the Green Deal
- Check out our Best Buy energy-saving light bulbs