Top five cheapest energy deals in October 2016Could you save £333 on gas and electricity?
12 October 2016
It doesn’t pay to be a loyal energy customer, as some big energy suppliers are starting to offer cheap energy deals to new customers only. So it’s time to switch energy supplier to secure a cheaper price for gas and electricity in time for winter.
If your supplier tells you the cheapest deal for you, it may not be the cheapest deal it offers overall. This is because, as an existing customer, you’re not eligible for a new-customer deal.
One of this month’s cheapest deals, from Eon, is a new-customer deal. So this makes it all the more important to keep an eye on how much you pay for gas and electricity, and check whether you could save money by switching to a different supplier or tariff.
This month, our research has found that you could save up to £333 by switching from one of the big six suppliers’ standard variable deals, usually among the priciest, to one of the cheapest UK-wide deals. And newly launched deals are £25 cheaper than last month.
Find the cheapest energy deal for your home with our independent switching site, Which? Switch. If you’d prefer to call, you can phone Which? Switch on 0800 410 1149 or 01259 220235.
Top five cheapest gas and electricity deals
The top five cheapest dual-fuel energy deals in October 2016 are from smaller suppliers, with the exception of Eon. They’re all newly launched deals in the past month, and all are available in all UK regions.
Eon’s deals are only available to new customers. So if you’re with Eon already, check the other suppliers to get the best prices. Click the links to find out more about each energy supplier.
|Top five cheapest energy deals for October 2016|
|Supplier||Tariff||Annual price||Tariff type||Exit fee|
|IRESA||Flex2 12month Fixed Direct Debit - Paperless||£744||Fixed||No exit fee|
|IRESA||Flex2 12month Fixed Direct Debit||£754||Fixed||No exit fee|
|Eon||Saver Plus Fixed 1 Year v3 - Paperless||£756||Fixed||£60 (£30 per fuel)|
|GnERGY||Fixed December 2017 v1 - Paperless||£763||Fixed||£49.98 (£24.99 per fuel)|
|Eon||Eon Saver Plus Fixed 1 Year v3||£766||Fixed||£60 (£30 per fuel)|
If you live in north-east England, Future Energy’s Future Connect – Paper and Paperless dual fuel tariff will save you £13 more than the cheapest UK-wide deal. It’s a one-year fixed deal, and you’ll be charged £30 per fuel if you leave early.
Robin Hood Energy's Nottingham v5 – Paperless tariff could be slightly (£2) cheaper than the lowest UK-wide deal; but only if you live in the East Midlands where it’s offered. It’s also a fixed tariff but there are no exit fees if you want to switch before it finishes.
Save £333 on your energy bill
You can save more money this month on energy, compared with September, thanks to the new deals which undercut last month’s best offers by up to £25. If you’re on one of the big six energy companies' standard variable tariffs, our research has revealed that switching to the cheapest deal could save you up to £333.
Although switching energy supplier might seem like a hassle, nine in ten people who’ve switched in the past two years using a comparison website* said it gave all the information they needed to switch. Plus all suppliers included got a four-star rating for layout and clarity of information, ease of inputting information and the time it took.
Which? Switch was rated among the best. Its customers gave it a score of 75%, while USwitch and ComparetheMarket got customer scores of 74% and 71% respectively. The average was 69%.
Our calculations are based on dual-fuel tariffs with paperless billing, paying by direct debit. So, if you have paper bills or pay when you receive a bill, you might find you can save even more.
1. Npower – save £333 by switching
If you’re on Npower’s standard tariff, it costs £1,077 per year. Switch to this month’s cheapest deal and you could save £333.
2. Scottish Power - £326 more expensive
Scottish Power’s standard paperless tariff costs £1,070 per year. That’s £326 more per year than IRESA’s Flex2 12month Fixed Direct Debit – Paperless deal.
3. EDF – save £325 by switching
EDF’s standard tariff costs £1,069 per year, which is £325 pricier on average then the cheapest deal available across the UK this month.
4. SSE – £311 more expensive
If you’re on SSE’s standard tariff, the typical cost is £1,056 per year, which is £311 pricier than the cheapest dual-fuel tariff.
5. Eon - £302 more than you need to pay
On Eon’s standard tariff? Then you could save yourself £302 by switching to this month’s cheapest tariff, as it typically costs £1,047 per year.
6. British Gas – save £300 by switching
Although its standard tariff is currently the cheapest of the six biggest suppliers, it’s still £1,044 per year – £300 more expensive than the cheapest tariff we found.
All the prices above are supplied by Energylinx, and are based on the details of a dual-fuel medium user (3,100kWh electricity and 12,500kWh gas per year) paying by monthly direct debit and choosing paperless billing. Prices are averaged across UK regions and correct as of 11 October 2016.
*Which? online survey of 206 people in June 2016.