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Cheapest family energy tariff now more than £1,000 per year!

The UK energy market reach an historic point recently, with the best average annual UK domestic dual fuel energy deal now costs more than £1,000.*

This undesirable landmark was reached on October 4th 2011 when ScottishPower withdrew the most competitive tariff on the UK energy market, a £990 internet-only tariff.

For an average home, there are no longer any gas or electricity tariffs, including dual fuel tariffs, that cost less than £1,000 per year.

History in the making with highest energy bills ever

Never before in the history of the UK energy market has this landmark been reach. Energy prices have never been as high as they are currently, and it looks unlikely that gas and electricity prices will be getting any cheaper over the winter months.

If customers want to save on fuel bills this winter, they should sign up for a fixed-term energy deal or a cheap internet gas and electricity tariff.

The cheapest energy deal that was withdrawn was ScottishPower's Online Energy Saver 15 - this gave an average annual saving of £310, based on a typical standard rate tariff costing £1,300 per annum.

The lowest priced energy deal is now EDF's Energy Discount Plan v5 at £1,024 a year, with a typical saving of £276 compared with a standard tariff. This energy tariff offers guaranteed discounts of 2.5% on EDF's standard prices until the end of 2012.

Fixed price gas and electricity deals unlikely to get more competitive

Fixed price energy deals are also still under pressure. In July, a £1,050 tariff was available fixed for 4 years. Now you can get the same price but only fixed for 1 year. The cheapest 3 year fixed term energy deal is currently £1,214 a year. Fixed term deals for 4 years are not available at all any more.

Find better UK energy deals with Switchomatic

However, it's not all doom and gloom in the UK energy market. If you shop around, you can still save a typical £300 per year on your gas and electricity bills. Get started now and search for better gas and electricity prices with Switchomatic's UK energy comparison service.

 

Created: 12th Oct 2011, Last Modified: 7th Dec 2018, Switchomatic

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