The Cheapest Energy & Gass Supplier In UK

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The Cheapest Energy & Gass Supplier In UK

With energy prices frequently changing, finding the best deal requires customers to shop around. So, which energy supplier offers the cheapest deal?

Due to the current energy crisis and unprecedented wholesale cost of gas, the cheapest energy deal available for most households right now is the current standard variable tariff (SVT) as this is protected by the price cap.

The energy price cap is imposed by regulator Ofgem and instructs providers on how much they can charge per unit of electricity and gas. Once a fixed deal comes to an end, customers are automatically moved onto a provider’s SVT and current advice is for energy customers to stay on this tariff.

As of April 2022, the energy price cap is set at an average of £1,971 per year for traditional meters and £2,017 for prepayment meters. However, this isn’t the maximum a household can be charged as it depends how much energy they use in their home.

The Cheapest Energy & Gass Supplier In UK

Cheapest energy providers: April 2022

We looked at the price of available fixed deals and standard variable tariffs of 32 UK energy providers to find out who is offering the cheapest prices. However, it’s worth being aware many providers aren’t taking on new customers right now.

Supplier Tariff Annual cost Monthly cost
Cheapest SVT Square1 SVT (April 2022) £1,818.03 £151.50
Cheapest Variable Utility Warehouse Gold
(requires another service)
£1,935.09 £161.26
Cheapest Fixed British Gas The Fixed One v16 £2,637.87 £219.82
Energy Price Cap Most Providers Standard Variable Tariff £1971 £164.25

Prices and tariffs based on Ofgem averages for a medium energy user in Brighton in April 2022. Not all providers will be accepting new customers.

Fixed deals

Out of the handful of fixed energy deals currently available even the cheapest is still around £700 more per year than the current energy price cap. Fixed deals are therefore unlikely to save customers any money at the moment.

Many energy firms are simply not offering new fixes or taking on new customers at all until the market settles down.

There is an argument for signing up to a fixed deal to avoid further energy shocks in Autumn 2022, yet the volatility of the market means it might not be worth the extra cost now to lock in to a more expensive fixed deal. We simply don’t know what’s going to happen to prices next.

There are also hints from the Government that they might act again to help energy customers before the next price cap review in October 2022.

We are keeping up to date with what’s going on in the energy market to help customers make informed decisions about what to do. Sign up to our mailing list to get the latest information when it’s released and also relevant links to help you keep your energy bills as low as possible during these difficult times.

 

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