Each month we scour the energy market to bring you the top five cheapest energy deals. In May, for the first time, some deals have made it below £900 a year.
The two deals under £900 are from new supplier GB Energy Supply and fast-growing supplier First Utility.
Which? Recommended Provider Ovo Energy is still competitively priced at £954 a year for its Better Energy all online paperless deal.
Ovo is the only Which? Recommended Provider for energy companies – this means that it meets our criteria according to our thorough policy, practices and pricing analysis.
Find out which tariff is the cheapest deal for you, based on your own energy usage, by visiting our independent comparison site Which? Switch.
Top five cheapest energy deals
These are the top five cheapest dual fuel deals in mid May. Click the links to find out what each company’s customers think of it (we don’t have links for GB Energy Supply and GnERGY as we didn’t get enough responses in our customer satisfaction survey):
1. £899 GB Energy Supply Premium Energy Saver
2. £899 First Utility iSave Fixed May 2016 v3 (paperless)
3. £915 GnERGY Fixed June 2016 v1 (paperless)
4. £925 Flow Energy Connect (paperless)
5. £925 Extra Energy Fresh Fixed Price Sept 2016 v2 (paperless)
All of these tariffs, except GB Energy Supply, are fixed deals so they can offer some peace of mind. They all have exit fees of between £25 and £30 per fuel – except Flow Energy Connect, which has no exit fee attached.
GB Energy Supply
Surprisingly, the cheapest deal on the market from GB Energy Supply is not a fixed deal but a so-called variable (or standard) deal, meaning its prices can go up or down. It has no exit fee, so you are free to switch whenever you want.
GB Energy Supply is a new energy provider in Britain, having been established in 2014. It offers one simple variable tariff – Premium Energy Saver.
Current standard tariffs from the Big Six
The majority of households in Britain are on a variable (also named standard) tariff and could be paying too much for their gas and electricity. If you’re on a standard tariff with one of the Big Six, you could save well over £200 by switching to one of the cheaper deals:
1. Eon £1,135: £236 more expensive than GB Energy Supply Premium Energy Saver
2. SSE £1,146: £247 more expensive
3. EDF Energy £1,155: £256 more expensive
4. British Gas £1,156: £257 more expensive
5. Scottish Power £1,166: £267 more expensive
6. Npower £1,169: £270 more expensive
Before switching supplier based on price alone, find out more about the energy companies.
Our research reveals what customers really think of their suppliers, which companies score best and which energy suppliers you’ll want to avoid – read our reviews of energy providers.
(All prices are from Energylinx for a dual fuel medium user -13,500kWh of gas and 3,200kWh of electricity a year – paying by monthly Direct Debit and choosing paperless billing. Prices are averaged across all regions and correct as of 14 May 2015.)