Compare Energy Prices From Major UK Suppliers
Is It Time To Compare Gas and Electric Prices?
Wondering if switching energy suppliers is the right move now that the price cap level has been lowered? If you’re looking for some certainty around energy prices, you’re not alone. With Cornwall Insight predicting a 3.5% increase in the energy price cap in January 2024, many are choosing to lock in a deal now.
Beyond January, we’re pretty much looking at a lot of guesswork. Energy prices could go up or down and things could change overnight. We’re here to help you make an informed decision.
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Why Look For Energy Quotes With Us?
We're proud to have our energy comparison service rated as Excellent based on over 4,000 reviews. We love helping our customers find great energy deals whether you’re looking for home or business energy.
It takes just 30 seconds to find live prices using our energy comparison engine; providing you with all the information allowing you to make an unbiased informed decision on who your new energy supplier should be.
How To Switch & Find Great Energy Deals
Our energy comparison service helps you find great energy deals with ease.
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Answer a few quick questions and then we can find you some great energy deals based on your location and usage.
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Once we’ve got your prices we’ll help you compare the best ones, and we can answer any questions you have too.
We’ll handle the switch
With us, there’s no obligation, but if you want to take one of the energy deals then we’ll handle it all for you.
Are Energy Prices Coming Down?
The charts displayed below highlight how energy prices have significantly fallen and stabilised. With predictions by Cornwall Insight suggesting that prices will increase in January 2024. Beyond this date, it is a heavy guessing game and prices could go up or down.
Whether you’re looking for a new business energy deal or switching home energy, we’re here to help you. To switch to business electricity or business gas, click here.
Energy Tariff Comparison - Choosing The Right Tariff
If you’re looking to secure a cheap energy deal, selecting the right tariff type could help you reduce your costs. When you compare energy tariffs, it’s important to consider how and when you use your gas and electricity.
For example, if you use most of your energy at night, switching to a multi-rate tariff could help you save money. Below, you can find information on some of the most common types of gas and electricity tariffs.
Fixed Rate Tariff
Fixed rate tariffs lock in the price you pay per unit of energy (kWh) for a certain period of time, protecting you from wholesale energy price hikes. This offers you certainty and means you don’t have to worry about price increases during your contract.
Green Energy Tariff
Green energy tariffs have become increasingly popular as we put more focus on our environmental impact. Some suppliers will offer 100% renewable electricity, putting naturally sourced energy back into the grid. A renewable tariff may also include carbon-offsetting. This involves your supplier funding projects that help tackle carbon emissions to offset the gas customers use.
Economy 7 Tariff
An Economy 7 tariff aims to provide cheap energy deals by giving you cheaper energy rates for a seven-hour window during the night. The off-peak hours and the discount offered will vary from supplier to supplier. It’s worth bearing in mind that Economy 7 peak rates tend to be much higher than regular energy tariffs.
No Standing Charge Tariff
Your standing charge is a daily fee which covers the cost of maintaining your energy supply. A no standing charge tariff sets this daily fee to zero. This can be beneficial for properties where most of your energy is used seasonally or for only a few days a week. Unit rates on a no standing charge tariff can be higher than those on standard tariffs.
Variable Rate Tariff
Standard variable tariffs are also known as default tariffs and are often the deal your energy supplier puts you on if you haven’t specified your preferred energy deal. Your unit rate will vary depending on the current wholesale costs throughout the duration of your contract.
Prepayment Meter Tariff
Prepayment meters are installed in your home, allowing you to become a ‘pay as you go’ energy customer. Prepayment meters are powered by a ‘key’ or smart card that is topped up and inserted into the meter to power it. Whereas credit meters allow you to spread energy costs evenly over the year, prepayment meters require you to pay for your exact usage.
Dual Fuel Tariff
A dual fuel tariff means that you can purchase both your gas and electricity from the same supplier with the same energy tariff. Suppliers will often offer a discount for taking out a dual fuel tariff with them.
Dual fuel tariffs are only available to homeowners and are not offered on energy deals.
Feed-in Tariff
This type of energy deal is a product of the Feed-in Tariffs (FIT) government scheme designed to promote and encourage the implementation of renewable and low-carbon electricity generation technologies. A feed-in tariff is available for anyone who has installed their own method of renewable energy generation, such as solar panels.
Energy Price Support & Breaking Down Your Bill
Breaking down your energy bills to help you understand what drives the cost of your bills.
What Is Included In My Energy Bill?
Parliament UK has released information on what a typical energy bill consists of. The price cap in 2023 takes the following into account and is broken up as follows:
- Wholesale cost of energy - 49%
- Network maintenance costs - 21%
- Operating costs - 11%
- Policy costs/ levies - 9%
- VAT - 5%
- Supplier profit - 3%
- Other costs - 3%
Reducing Energy Costs
Whether you're looking to save money as a business or on home energy costs, becoming more efficient with gas and electricity is the key to cutting the price.
- Reducing the thermostat
- Switch off lights, computers and appliances when not in use
- Install energy-efficient lightbulbs
- Find a cheaper energy deal
- Draught-proof doors and windows
- Paperless policy
Energy Guides
You can find plenty of useful information in our handy energy guides.
No Standing Charge Tariffs Guide
In this guide, Energy Helpline will explain why energy suppliers add this fee to your bill and whether switching to a no-standing charge tariff could save you money.
How To Read Energy Meters
This guide helps you identify the different types of meters and how to read them.
The Difference Between Fixed and Variable Tariffs
There are some significant differences between fixed and variable tariffs. This guide will help you decide what the right one for you is.
DID YOU KNOW?
49% of consumers say they have never switched energy supplier, or have only switched once.† Make sure you're not missing out on better energy prices.
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Energy Comparison & Switching FAQs
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When Is The Best Time To Switch?
The best time to switch energy suppliers will depend on your individual circumstances. If you haven’t switched for a few years, you should compare energy prices to make sure you’re on the best deal available to you.
For those on a fixed term contract, the best time to switch will be when your renewal window opens and you have no exit fees to pay. If you allow your contract to expire, you’re likely to be placed on your supplier’s standard variable tariff. This tends to be one of the most expensive tariffs your supplier offers.
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How Long Does It Take To Switch?
The length of time it takes to switch can depend on whether you’re a business or domestic user, and on your tariff type.
Guidelines such as the Energy Switch Guarantee offer an agreement with suppliers to complete domestic and business energy switches within 5 working days. The process can take longer where extra work is required to complete your switch. This could include installing a new meter at your premises.
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Will I Incur Exit Fees When Switching?
Most energy deals will include exit fees for ending your contract early before your renewal window. For business users, early cancellation fees can be significant.
However, you will not be charged an exit fee by your supplier if you switch during your renewal window. Your supplier should make you aware of when your renewal window and provide information on how your energy costs will change should you fail to switch.
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What Is The Energy Switch Guarantee?
The Energy Switch Guarantee is a voluntary set of promises that suppliers can sign up to make sure switching energy is as simple as possible.
When signing up to the guarantee, suppliers agree to a number of promises and targets including:
- Completing a switch to a new tariff within 5 working days
- Your switch to a new tariff or supplier will be handled entirely by your new supplier
- If any problems occur with your switch, your new provider is responsible for contacting you and rectifying the issue swiftly
- If you change your mind within 14 days, you will simply remain on your old tariff with your original supplier
- You’ll review your bill from your original supplier no more than 6 weeks after the switch has been completed
- Any credit due to you will be refunded by your original supplier within 14 days of your final bill
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Why Has My Energy Supplier Changed My Direct Debit?
Your monthly Direct Debit to your energy supplier is just a ‘estimate’ cost that’s suggested by your supplier to cover the monthly energy you’ve used - it’s never completely accurate.
At the end of winter, you might be in debit, which is the exact opposite of credit. Debit is incurred when your monthly Direct Debits aren’t enough to cover your usage. This is completely normal, and irons itself out when the warmer months come and you start using less energy.
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How Will The Energy Price Guarantee Affect My Energy Bills?
the government have announced an Energy Price Guarantee which will see energy bills frozen at £2,500 (based on typical UK usage) from 1st October 2022 until 2024.
However, the price cap has been reduced below the guarantee. This means that the price cap is now active over the guarantee.
The energy price cap is a limit on how much your supplier can charge you for the gas and electricity you use on a default energy contract.
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How Do I Get A Refund For Energy Overpayment?
In the vast majority of cases, all you need to do is ask. Industry regulator Ofgem has rules that force suppliers (including any of your previous ones) to refund you credit if you ask, unless they have very good reason not to.
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Where Can I Find The Best Gas And Electric Deals?
Comparing multiple energy suppliers and tariffs is the best way to find competitive gas and electricity deals.
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Is Energy Comparison Back?
In 2023, energy prices are much more stable and are up to 69% cheaper than October 2022. Now is a great time to switch domestic and business energy tariffs.