Each month we scour the energy market to bring you the top five cheapest energy deals. In March, 12 tariffs cost less than £1,000 for a medium user.
Most of these cheapest tariffs are fixed deals. But the majority of customers are on a variable (also named standard) tariff and could be paying too much for their gas and electricity.
If you’re on a variable tariff with one of the big six energy firms, you could be paying well over £200 more than the cheapest deal. So make sure you’re not paying more than you need to.
You can 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 early March. Click the links to find out what each company’s customers think of it (there isn’t a link for Green Star Energy as it didn’t have enough customers for our satisfaction survey):
1. £918.41 Extra Energy Fresh Fixed Price March 2016 v3 (paperless)
2. £919.47 First Utility iSave Fixed March 2016 v44 (paperless)
3. £926.66 Npower Price Fix May 2016
4. £941.94 Green Star Energy Rate Saver 12M Fixed 1502
5. £944.00 Co-operative Energy Fair & Square May 2016 (paperless)
These are all fixed deals, so they can offer some peace of mind. However, if prices do drop, you won’t benefit while you are signed up. Exit fees may apply if you want to switch before the end of the fixed deal.
Current standard tariffs from the Big Six
If you’re on a standard tariff with one of the Big Six, you could save over £200 by switching to one of the cheaper deals:
1. Eon £1,135: £217 more expensive than Extra Energy Fresh Fixed Price March 2016 v3 (paperless)
2. EDF Energy £1,155: £237 more expensive
3. SSE £1,174: £256 more expensive
4. Scottish Power £1,156: £238 more expensive
5. British Gas £1,156: £238 more expensive
6. Npower £1,169: £251 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.
Sales ban for Scottish Power
Before Wednesday of this week, the cheapest deal on the market was from Scottish Power. But Scottish Power withdrew its Online Fixed Price Energy March 2016 after it was hit by a 12-day sales ban for failing to meet Ofgem’s imposed targets on customer service.
March has already been a busy month in the energy world. Scottish Power sales ban wasn’t the only news: Ovo Energy announced on 3 March that it is scrapping all exit fees from its tariffs. These were £30 per fuel. The supplier believes its top customer service alone will stop people switching away from its deals. But Ovo’s 12 month Better Energy deal was £920 before the announcement – it went up to £968 after.
(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 5 March 2015.)