Top energy deals now include Big Six suppliers and cost under £1,000 a year
Our friends over at Which! have been very helpful and have calculated the cheapest energy deals on the market at the moment. Although Halloween was actually a heatwave (comparatively speaking), it is now November and it’s going to be time to don the thermal undies and/or twiddle the thermostat sometime soon.
For the first time, all of the top five cheapest deals now come in at under £1,000 (on average estimated usage) AND the top five includes not one, but two of the big six energy suppliers. Which just goes to show that they can be cheaper if they only try hard enough. Nevertheless, the top spot is still held by smaller supplier First Utility.
Of course, whether these tariffs will be cheaper for you will depend on your current tariff and your energy usage, but, based on standard listed tariffs, you could save around £200 on any of these beauties:
1. First Utility iSave Fixed March 2016 (v37) estimated annual cost £960.47
2. Eon Energy Fixed 1 Year v12 £964.65
3. Ovo Energy Better Energy Fixed (Online) £973.33
4. Extra Energy Fresh Fixed Price Dec 2015 v1 £973.65
5. Npower Online Price Fix November 2015 £999.84
The prices listed above are averaged across all regions and are for a dual fuel customer (gas and electricity) paying by monthly Direct Debit and choosing paperless billing, collecting various bonus discounts/cashbacks in the process. The annual costs have been calculated using Ofgem medium consumption figures of 13,500kWh for gas and 3,200kWh for electricity.
It is also worth noting that these are all fixed rate tariffs, which may be preferable and give you some peace of mind, but also means that you won’t benefit from any price cuts during the fix period. And before you scoff, think of all the people who fixed last winter.
As noted above, however, the above prices are estimates and you should use a comparison site to check if these new deals work for you. However, with average energy costs coming in at less than £85 a month, perhaps we can all look forward to a warmer winter.