Switching to a cheap energy deal could save you more than £200 a year.
Today we reveal the top five gas and electricity tariffs on the market.
It’s the first in our new monthly list of the five cheapest energy deals – so watch this space to keep ahead of the market.
To find the best deal for you, compare energy prices with Which? Switch.
Top five cheapest energy deals
The cheapest gas and electricity deals available now are:
- Ovo Energy – Cheaper Energy Fixed: £1,015 (fixed)
- Spark Energy – Direct Debit Advance 3: £1,025 (variable)
- First Utility – iSave Fixed April 2015: £1,028 (fixed)
- Ovo Energy – Greener Energy Fixed (online): £1,071 (fixed)
- Ovo Energy – Better Energy Fixed: £1,075 (fixed)
All prices are for a dual fuel, monthly direct debit customer with average usage.
The only variable tariff is the one from Spark Energy. The others are all fixed, which offer long-term peace of mind but mean customers won’t benefit from any price cuts while they are signed up.
And fixed customers also need to watch out for exit fees. See our energy tariffs explained guide for more information.
Beat the Big Six’s energy prices
Picking one of the cheapest energy deals could save you up to £223 on your annual bill if you’re currently on one of the standard tariffs from the Big Six energy firms.
The standard tariffs are listed below – along with how much more expensive they are than the cheapest deal:
- Npower – Standard Dual Fuel: £1,238 (= £223 more expensive)
- SSE – Standard (paperless billing): £1,212 (= £198 more expensive)
- British Gas – Standard: £1,193 (= £178 more expensive)
- Scottish Power – Standard (online): £1,189 (= £174 more expensive)
- EDF Energy – Standard (variable): £1,164 (= £149 more expensive)
- Eon – Eon Energy Plan (paperless billing): £1,160 (= £145 more expensive)
But 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 2014 energy companies satisfaction survey.
It’s also worth knowing that Ofgem is currently investigating Spark Energy because of complaints about billing issues and customer switching.
Figures accurate as of February 14, 2014.
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