Have you turned your heating off yet? And back on again? Protect yourself from temperature fluctuations and spring price rises by finding a cheaper energy deal.
This month, switching your energy deal could save you up to £370 over a year. That’s enough for a Best Buy barbecue, with plenty of notes to spare for when the weather is warmer. Or a lovely mini break if it stays chilly.
Choosing a fixed electricity and gas deal will also protect you from price rises from half of the Big Six energy firms, coming into effect in the next month.
Keep reading to find out which big companies are raising their prices and the top five energy deals to switch to.
Find spring energy savings by comparing gas and electricity prices using Which? Switch, our independent comparison site. Or you can call us on 0800 410 1149 or 01259 220235.
Cheapest gas and electricity deals for May
This difference between the cheapest deal (available GB-wide) and the priciest Big Six standard tariff is the biggest we’ve seen for two years, based on our monthly analysis*.
Last month, you could save up to £359 per year, as a medium user. A year ago, the maximum saving was £308. In May 2016, you would have saved up to £333 in a year.
Change from the current priciest standard tariff with a Big Six energy firm (Npower) to the cheapest deal on the market and you could save up to £370 per year.
Below, we’ve listed the five cheapest dual-fuel energy tariffs for medium users. Use these prices to get an idea of what you need to spend, but compare prices using your own usage information to get the most accurate quote.
Scroll down for the latest energy market news – and what it means for you.
The prices above are annual. Then we’ve noted the tariff and how much this will save a medium user compared with British Gas and Npower’s standard tariffs (currently the cheapest and priciest of the Big Six firms, although this will change when price rises come into effect).
Energy in the news – and how you’re affected
Npower and SSE’s planned merger is on hold while the Competition and Markets Authority (CMA) does further checks. The two companies have until 3 May to submit evidence to the CMA to answer its concerns over whether the merger will result in a ‘substantial lessening of competition’ and risk increasing customers’ bills.
Your energy bills could rise if you’re the customer of one of the following:
- British Gas’ standard tariff will increase by £60 on average per year from 29 May.
- EDF Energy is raising electricity prices for its standard tariff by £16 per year on average from June.
- Eon removed dual-fuel and paperless discounts on its standard tariff (worth £30) from 19 April and upped its standing charge for those paying by cash or cheque by £20 per year.
- Scottish Power mirrored British Gas’ 5.5% price increase, adding £62 on average per year to standard tariff customers’ bills from June.
The price cap for customers on standard variable tariffs has had its third reading in the House of Commons. Next, it will go to the House of Lords. The aim is to have it in place by winter 2018.
Our energy pricing research
*Prices are based on a dual-fuel tariff available in all regions in England, Scotland and Wales for an average user (using Ofgem averages of 3,100kWh of electricity and 12,000kWh of gas per year), paying by monthly direct debit, with paperless bills. Data is from Energylinx. Prices given are averages across regions, are rounded to the nearest whole pound and correct on 1 May 2018.