The new energy price cap level and lowering wholesale costs have led to suppliers beginning to introduce new gas tariffs. This allows households to finally switch suppliers once again.
As homeowners have been unable to switch, many will now be on their supplier’s standard variable tariff. As energy prices begin to stabilise, this is likely to become one of your supplier’s most expensive tariffs. To stay on the best deal available, it’s important to compare gas prices.
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Some fixed rate gas and electricity deals are now falling below the current energy price cap level set by Ofgem. Before this, there was little benefit to switching home energy as government support lowered bills to below the price cap level.
As government support is now coming to an end, it’s important to compare gas tariffs to find the best available deal. By switching to a fixed rate gas deal, you could protect yourself against any price rises in the future. However, if prices were to fall, you may miss out on cheaper gas rates.
With energy prices changing regularly, it can be difficult to know what a good deal looks like. To help you stay on top of your gas prices, we’ve provided projections for the energy price cap.
The projections, carried out by Cornwall Insight, expect the price cap to fall slightly in October before a small rise in December. When comparing gas prices, households are likely to be looking for a fixed rate deal which falls under the projected price cap cost.
It’s important to bear in mind that these are only projections and prices can change depending on what is happening in the energy market.
*Projections based on average UK household usage
|Average Price Per Month||Average Price Per Year|
|Energy Price Guarantee Until 30th June 2023||£208.34||£2,500|
|Ofgem’s Price Cap Announcement From 1 July 2023||£172.84||
|Cornwall Insight Projection For October 2023||£164.67||£1,976|
|Cornwall Insight Projection For January 2024||£170.42||£2,045|
Getting the right tariff for your home can help you reduce your domestic gas costs. Here, you can find information on some of the most popular tariff choices for households.
A fixed rate tariff offers certainty by locking in your unit rate and standing charge for the duration of your contract. This offers customers certainty when energy prices are fluctuating.
Most UK households will now be on a variable rate gas tariff. Your unit rate can change from month to month depending on wholesale costs and the energy price cap.
A dual fuel tariff offers one contract for both your gas and electricity. This can make it easier to manage your bills and some suppliers may offer a discount for switching both fuels.
All gas tariffs include a daily standing charge which covers the cost of maintaining your energy supply. With a no standing charge tariff, this fee is set to zero. As a result, if you don’t use energy on a given day, there will be no charges to pay. It’s worth bearing in mind that unit rates can be higher than standard tariffs.
With prepayment tariffs, you will pay for your gas supply on a ‘pay-as-you-go’ basis. You can top up your prepayment meter with a key or smart card. This means that you are paying upfront for the gas you will use. Unit rates can at times be higher on prepayment tariffs than regular tariffs.
Renewable energy tariffs are great for environmentally conscious homes. With a green gas tariff, part of the energy purchased by your supplier will be from renewable sources and the rest offset by investments in green causes. The more homes that switch to renewable tariffs, the more green energy will go into the national grid.
At Energy Helpline, we aim to make it as easy as possible to compare gas suppliers. Our innovative online comparison engine allows you to find the latest home gas prices in seconds.
We work with a panel of trusted energy suppliers to offer the best possible rates to our customers. You can compare a wide range of tariffs to find a deal that suits your exact requirements.
Our team will also be on hand to manage your switch and provide any advice you need throughout the process.
The majority of gas suppliers are signed up to the Energy Switch Guarantee. Under the guarantee, it should take no longer than 5 working days to complete your switch. There will be no interruption to your energy supply and if you change your mind within 14 days, you can return to your old energy supplier.
If your account is in debit or you still owe money to your old supplier you can still switch energy suppliers. However, you will receive a final bill from your old supplier which you will be required to pay in full.
Every household in the UK is entitled to request a smart meter. You should contact your supplier and they will let you know whether they can install a smart meter.
The energy price cap is a limit on the amount suppliers can charge homeowners for the energy they use. It is reviewed every 3 months by the energy regulator Ofgem.
The cap takes into account wholesale prices and the state of the current energy market. It’s worth bearing in mind that the cap is the maximum suppliers can charge so tariffs at the upper end of the cap will not always represent a good deal.
MPRN stands for Meter Point Reference Number. This is the number which identifies your gas meter. This allows you to compare gas tariffs online and ensures you won’t be charged for somebody else’s energy usage.
You can usually find this number on your gas meter or a recent bill.