How to compare and find the cheapest energy deals
The UK energy market has been in turmoil since September 2021 when wholesale energy prices rocketed to levels never seen before. Due to ongoing global tensions impacting supply, and the daily volatility of wholesale gas prices, the UK energy switching market has been on hold. In essence, this means switching to a cheaper energy tariff has been ruled out since September 2021 meaning the vast majority of UK homes are now on their energy supplier's 'Standard Variable Tariff'. Usually deemed as some of the most expensive tariffs, these tariffs are now significantly cheaper than anything else available on the market direct from your supplier.
For now, our advice remains to focus on reducing your energy consumption whilst remaining vigilant to any possible savings as and when the market returns. Check back regularly to see when that is.
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How do I find the cheapest gas and electricity tariffs?
Prices and tariffs can fluctuate conditional to your requirements, and with around 60 active licensed energy suppliers in the domestic energy retail market, there's a lot on offer. Each supplier will have specific tariffs, price ranges, and unique selling points. These will be influenced by your own needs, such as how, and when, you use energy, the type of tariff you require - like a time of use tariff, and even where you live.
When running a comparison, we will ask you for more information about your current usage to compare more specific tariffs from cheap energy suppliers.
Who is the cheapest energy supplier?
The number of licenced companies can fluctuate month to month, however, the amount of active suppliers in the UK has stayed steady in recent months. Facing a lot of competition and with energy rates constantly changing, providers are continuously trying to offer the cheapest energy deals and encourage customers to switch.
In the UK for a standard dual fuel bill, customers are paying around £844 for the cheapest tariff option. This is based on typical domestic average consumption values of around 12,000 kWh of gas and 2,900 kWh of electricity for medium usage. The cheapest energy deals are usually those on paperless tariffs paid by direct debit.
It's important to note that the cheapest energy supplier for one customer might not be the cheapest for another. It all depends on your needs and how you want to use your energy. Remember when comparing, the more accurate the information, the more precise quotes you'll receive.
To give you a top-level overview, we've put together a live table below on the top cheapest energy deals. These deals are based on assuming you would be on a dual fuel tariff (both electricity and gas with the same supplier), and would be paying my direct debit with typical domestic consumption values (as mentioned above).
Finding cheap energy deals has never been easier. You can simply enter your postcode into our energy comparison calculator and startcomparing gas and electricity quotes today.
All you will need is your latest gas and electricity bill, let us know about your current deal and let us compare prices from cheap energy suppliers in your area.
The Cheapest Energy Deals
Have a look below at our top cheapest energy deals on the market today. Remember, these are only a guide and you will need to carry out your own comparison for accurate quotes.
For comparison purposes, energy prices shown above are based on the London region ONLY. Prices may vary depending on the region you live in. To see the best deals for where you are, run a comparison using our Ofgem approved energy switching tool.
Do cheap energy companies offer a good service?
Good customer service is not directly proportionate to the price you pay for your energy - it all depends on the company.
The Big Six suppliers, who dominate the market, are the most well-known energy suppliers and customers assume they will provide a better customer service.
However, smaller and medium sized energy suppliers, who not only offer better rates, are now starting to also offer better customer service with online chats, free contact numbers, guides, and online accounts where you can review all bills, usage and submit up to date readings. They're keen to secure their place in the market, and most probably will go out of their way to offer high level service.
If you're still in doubt, it's always good to read customer reviews. Remember to check the time stamp on any reviews as previous grievances may not have been rectified by the company.
Why compare cheap energy prices?
Price is the biggest reason when it comes to choosing a supplier with most people looking to reduce their energy bills. Comparing and switching supplier or energy tariff can make a big difference to your bill.
According to the latest Ofgem report, oil prices are falling meaning energy tariffs are lower than ever. So, if you're looking for the cheapest energy prices, now is a good time to review your current tariff, especially if you've never switched before.
However, some customers are also looking to change energy supplier if they want better customer service, are interested in suppliers' green credentials, or are looking for specific tariffs - possibly those on fixed energy deals or with no exit fee.
Whatever your reason for switching, you can find out more on how to switch energy suppliers here.
