How much is the average monthly gas and electric bill in the UK?
The average energy bill in the UK is currently £1,326 according to government figures. Due to the UK energy crisis, many households are currently on a standard variable tariff.
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Standard variable tariffs are actually considered the most expensive tariff an energy consumer can be on, with fixed tariffs usually being the cheapest. However, in the middle of the crisis, it has become much more complicated. In a lot of cases, the standard variable tariff is offering cheaper energy prices at the moment. Many households are paying double what they were a year ago.
People considering fixing their energy are confused and unsure if this is the right move. The new Ofgem price cap prediction for October 2022 is set to rise 51% (to £2,980 annually in average use).
This prediction has left many households in a confusing position. Switching energy suppliers now will certainly be more expensive than the current price cap today. However, many industry experts are suggesting that money can be saved in the future by selecting a fixed-rate energy deal that is no more than 40% more expensive than the current price cap.
This means, in theory, you will be paying less than the price cap in the winter months. The issue is, that the October price cap is just a prediction and it isn’t an exact science. Despite many predictions being close to accurate by Cornwall Insights, there are still elements of risks involved.
How much is the average gas and electric bill for a three-bed house?
It’s hard to provide a useful estimate for a three-bedroom house in terms of the monthly average cost of an energy bill. Instead, in order to gauge the amount you should be paying for your bills, you need to look at the average consumption of energy and the average price of an annual energy tariff. This way you’ll be able to easily compare your own consumption and costs allowing you to make the decision on whether or not it’s time to switch energy suppliers.
Based on the average consumption of a three-bed house in the UK, we estimate that they will use the following:
- 12,500kWh of gas
- 3,000kWh of electricity
With energy prices increasing, we can take this into account and average calculations based on the following kWh figures:
- Electricity unit rate: 28.34p per kWh with a daily standing charge of 45.34p.
- Gas unit rate: 7.37p per kWh with a daily standing charge of 27.22p.
This means that an average three-bed home in the UK will have an annual energy bill of £1,793.21 and a monthly cost of £149.43. Of course, these figures are estimated based on the available prices at the time of writing (June 2022). For more accurate energy prices, you should use our comparison tool.
*The deals that are switchable on our site are subject to change, so when you use our site the energy tariff prices stated above might not be available.
How much is the average gas and electric bill for a single person?
As you’ve probably gathered, in order to calculate an average bill for any household, we need to look at the average consumption first.
An article from Octopus Energy back in 2019 stated that the average small house or flat with one or two bedrooms uses 8000kWh of gas per year and 2000kWh of electricity. For the sake of this example, we must assume that only one person is living on said premises.
If we use the same kWh prices as above, the average annual cost comes in at £1,178.16 with a monthly cost of £98.18.
How much is the average daily cost of gas and electricity?
Using the average annual energy bill cost of £1,326, calculated using the latest government figures, the average daily cost of gas and electricity is sitting roughly at around £3.63.
What is the average gas and electric bill type in the UK?
As you might have seen mentioned in the sections above, the average gas and electric bill type in the UK is the standard variable tariff (SVT).
Just because the standard variable tariff is the average gas and electric bill type in the UK does not mean it’s the best one for energy consumers to be on. However, with the market seeing unprecedented increases in prices, it is no longer as easy as advising households to fix energy bills for 12, 24 or 36 months. The market has very much switched from saving money on your energy bills to managing the price ahead of the next price cap increase.
At the moment, it is only worth switching to a fixed-rate tariff if it is less than 40% more expensive than the current price cap.
How do I know if I’m overpaying on my gas and electric bills?
In order to know if you’re overpaying your gas and electric bills, you need to be aware of how much energy you are using each year. Only once you know your annual energy consumption can you start to work out whether or not you’re overpaying for the amount of gas and electricity you are using.