27th October 2014
The battle between the UK’s energy providers is heating up, with both small suppliers and the big six slashing costs and launching new tariffs, according to price comparison and switching service uSwitch.
Small player Extra Energy has launched the cheapest deal in the market at £976, while between the ‘big six’ Npower’s new £1,000 tariff is the best value, coming in at third place in the best buy tables while EDF offers the longest fixed deal on the market, which runs until May 2018.
As a result of the new offers, the ‘big six’ energy companies, which include British Gas, SSE, Scottish Power, E.on, EDF and Npower, now hold five out of 10 spots in the table.
Tom Lyon, energy expert at uSwitch.com, says: “With temperatures starting to fall, competition is really starting to heat up in the market. Extra Energy undercut First Utility’s latest tariff by just a pound after only a few hours after it was launched, bringing them back to pole position in the best buy tables.
“But the big six are now raising their game and responding with more competitive deals. npower’s new tariff at £1,000 is fixed to November next year and comes in third place, meaning that big six suppliers now offer five of the ten best deals. As winter approaches, there’s no sign of this price battle ending and consumers look set to be the winners.”
|Best Buy plans paying by monthly Direct Debit (as of 28 October 2014)|
|Supplier||Plan name||Average bill size||Tariff type|
|Extra Energy||Fresh Fixed Price November 2015 v3||£976||Fixed|
|First Utility||iSave Fixed November 2015 (v35)||£977||Fixed|
|OVO Energy||Better Energy (all Online)||£998||Fixed|
|npower||Online Price Fix November 2015||£1,000||Fixed|
|Green Star Energy||Rate Saver 12M Fixed 1410 (paperless)||£1,004||Fixed|
|Sainsbury’s Energy(powered by British Gas)||Fixed Price October 2015||£1,009||Fixed|
|ScottishPower||Online Fixed Price Energy December 2015||£1,012||Fixed|
|The Cooperative Energy||Fair & Square December 2015||£1,021||Fixed|
|EDF Energy||Blue+Price Promise March 2016||£1,039||Fixed|
Source: uSwitch.com. Based on a medium user customer using 3,200 kWh of electricity and 13,500 kWh of gas, on a dual fuel plan, paying by monthly Direct Debit, with bill sizes averaged across all regions.