Energy prices continue tumbling – here’s the current top 10 tariffs

Competition among gas and electricity suppliers – and not just the Big Six – is continuing to send energy prices falling.

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So it makes more sense than ever to switch from a standard variable rate tariff to a fixed rate deal. We reckon someone on typical usage who’s never switched could save £210 a year.

Smaller suppliers’ deals now take up half of the top 10 best one-year fixed-rate deals table, with the lowest now coming in at less than £919 a year for a typical household.

Extra Energy, Green Star Energy, Co-operative Energy and GB Energy Supply Limited are giving the UK’s Big Six suppliers a run for their money, as you can see in the latest best buys table…

Provider and Tariff Tariff Rate Type Deal Expires Avg. Medium User (Gross) Exit penalty
Extra Energy - Fresh Fixed Price March 2016 v3 Fixed 31-Mar-16 £918.41 £25 per fuel
first-utility - iSave Fixed April 2016 Fixed 30-Apr-16 £919.47 £30 per fuel
Green Star Energy - Rate Saver 12 Months Fixed version 1502 Paperless Fixed NA £926.94 £30 per fuel
Green Star Energy - Rate Saver 12 Months Fixed version 1502 Fixed NA £941.94 £30 per fuel
Co-operative Energy - Fair & Square May 2016 Fixed 31-May-16 £944.00 £30 per fuel
ScottishPower - Online Fixed Price Energy April 2016 Fixed 30-Apr-16 £948.98 None
Sainsbury's Energy - Fixed Price March 2016 Fixed 31-Mar-16 £949.36 £30.00
GB Energy Supply Limited - Premium Energy Saver Variable NA £950.74 None
npower - Fixed Energy June 2016 Fixed 30-Jun-16 £954.93 None
EDF Energy - Blue+Price Promise July 2016 Fixed 31-Jul-16 £964.16 None

 

Tariffs coming to an end

Meanwhile, 12 fixed rate energy deals, including last year’s popular EDF Energy Blue +Price Promise March 2015 tariff, will disappear within the next seven weeks. And if you’re on one of them, doing nothing could cost you money.

Energy customers who let their fixed rate deals come to an end are automatically moved onto their supplier’s standard tariffs – meaning higher gas and electricity bills. In the worst case illustrated in the table below, it could cost almost £300 over the course of a year.

Supplier and tariff name End date Average bill Current standard monthly direct debit Difference Potential saving
Co-operative Energy - Pioneer - Fixed 2015 31-Mar-15 £1,045.07 £1,176.43 -£131.36 £263.25
EDF Energy - Blue +Fixed Price March 2015 31-Mar-15 £1,198.43 £1,163.60 £34.83 £250.42
EDF Energy - Blue +Price Promise March 2015 31-Mar-15 £1,060.69 £1,163.60 -£102.91 £250.42
Sainsbury's Energy - Fixed Price March 2015 31-Mar-15 £1,192.97 £1,193.01 -£0.04 £279.83
Scottish Power - Fixed Price Energy April 2015 NSC Online 31-Mar-15 £1,129.46 £1,188.62 -£59.16 £275.44
Scottish Power - Online Fixed Price Energy March 2015 31-Mar-15 £1,065.63 £1,188.62 -£122.99 £275.44
Scottish Power - Platinum Fixed Energy April 2015 NSC Online 31-Mar-15 £1,252.34 £1,188.62 £63.72 £275.44
British Gas - Price Promise April 2015 30-Apr-15 £1,194.07 £1,192.96 £1.11 £279.78
EDF Energy - Blue +Price Promise April 2015 30-Apr-15 £1,083.64 £1,163.60 -£79.96 £250.42
first-utility - iSave Fixed v15 April 2015 30-Apr-15 £1,028.48 £1,159.47 -£130.99 £246.29
first-utility - iSave Fixed v9 April 2015 30-Apr-15 £1,044.96 £1,159.47 -£114.51 £246.29
npower - Price Fix April 2015 30-Apr-15 £1,091.66 £1,204.91 -£113.25 £291.73

 

Time to switch!

Switching to a new supplier now takes 17 days in most cases, so if your tariff is one of the 12 expiring before the end of April, you’ll want to time your switch accordingly to dodge any exit penalties which, depending on how much they cost, can eat into the savings you might make by switching.

Any exit penalty attaching to your fixed rate tariff won’t apply if you are within 45 days of your tariff’s end date, meaning you can safely start searching for your next tariff now.

Please note: any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.

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