A range of suppliers are offering cheap tariffs this January

A number of cheap energy tariffs have been released that could help you pay significantly less

A range of suppliers are offering cheap tariffs this January

January is a month where people tend to feel the pinch most financially. This is mainly due to overexerting their bank accounts over Christmas and New Year.

Over inflated energy bills add to the troubles experienced by many households at the start of the year. However, since the start of the year, there have been a number of cheap energy tariffs released that could help you pay significantly less on your monthly energy bill, and claw back some of that Christmas debt.

Today, one of the Big 6 energy suppliers npower have launched a new fixed price tariff – Online Price Fix February 2017, costing just £805 a year at medium usage. Customers switching to this new tariff will see their electricity and gas prices fixed until 28th February 2017. The tariff is a 30% discount to npower’s standard tariff and is the cheapest open market tariff from a big supplier in over 4 years.

Another new tariff released post-New Year, and currently the cheapest fixed tariff on the open market is extraenergy’s Fresh Fixed Price Feb 2017 v1. This tariff costs £791 a year and is also fixed till 28th February 2017. The average big six standard tariff costs £1,098 per year, so customers switching to this tariff can expect to save up to £307 on their annual bill.

Other suppliers to introduce cheap fixed tariffs this year include first:utility, iSupply, and Places for People Energy.

The best buy table below shows the top 10 cheapest fixed tariffs currently available on the open market.

  Supplier Tariff Average Cost Saving vs
Typical Bill*
Fix Period
1 extraenergy Fresh Fixed Price Feb 2017 v1 £791 £307 28 Feb 2017
2 Places for People Energy Together - February 2017 - fixed 29 £794 £304 28 Feb 2017
3 extraenergy Clear Fixed Price Feb 2017 v1 £799 £299 28 Feb 2017
4 GB Energy Supply Fixed 12 Emerald £799 £299 12 months
5 extraenergy Bright Fixed Price Feb 2017 v1 £800 £298 28 Feb 2017
6 GnERGY Fixed February 2017 v1 £802 £296 28 Feb 2017
7 iSupplyEnergy iFix February 2017 £804 £294 28 Feb 2017
8 npower Online Price Fix February 2017 £805 £293 28 Feb 2017
9 So Energy So Badger £806 £292 12 months
10 first:utility First Fixed March 2017 v2 £817 £281 31 Mar 2017

* Saving calculated against an average bill of £1,098 (average of Big Six energy suppliers' Monthly Direct Debit payment method Standard tariffs).

Notes:

  1. Source: energyhelpline.com, 13/01/2016
  2. All calculations are for an average usage dual fuel household paying by Monthly Direct Debit. Average usage defined by OFGEM is 12,500kWh p.a. of gas and 3,100kWh p.a. of electricity
;

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