The latest energy price cap update will see energy prices fall by 12.3% to £1,690 from 1st April 2024. Many are wondering whether now is the time to fix and lock in their gas and electricity prices - but should you? Right now, we are advising customers to sit tight and wait. There are some one-year fixed rates on the market but these deals often come with heavy exit fee's.
Comparing energy prices is the key to ensuring you're not paying more than you should, and at The Energy Shop, we're committed to helping you find the best deals tailored to your needs. We provide expert guidance on switching suppliers, empowering you to make significant savings on your energy bills. Try our energy comparison service today and discover the substantial savings you could be enjoying.
Not sure who your energy deal is currently with? Use our "who supplies my energy" tool to confirm the registered gas and electricity supplier to your property. If not, our comparison tool uses industry data to find out this information automatically through our energy comparison service.
The list below shows the best energy deals available on the market today:
| Supplier | Tariff Name | Estimated Annual Bill |
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For comparison purposes, energy prices shown above are based on the London region ONLY. Prices may vary depending on the region you live in. To see the best deals for where you are, run a comparison using our Ofgem approved energy switching tool.
We want you to be confident when switching energy suppliers with The Energy Shop. That is why we have four energy switching guarantees in place:
When choosing an energy supplier, it's crucial to understand their fuel mix, which refers to the various sources from which they generate electricity. This mix can include fossil fuels like coal and gas, nuclear energy, and renewable sources such as wind, solar, and hydroelectric power. The proportion of renewable energy in a supplier's fuel mix is a key indicator of their environmental impact.
Several energy suppliers have made the commitment to 100% renewable energy, meaning all their electricity is generated from renewable sources. Companies such as Ecotricity are leading the way in this regard, offering tariffs that are not only competitively priced but also kind to the planet.
At The Energy Shop, we believe that everyone should have access to affordable energy. Our free energy comparison service is designed to help you find a better and cheaper energy deal in minutes. Here's how it works:
Enter your postcode: We'll show you the energy suppliers available in your area.
Compare energy deals: We'll show you a range of energy deals, including fixed and variable tariffs.
Switch energy supplier: Once you've found a deal that suits your needs, we'll help you switch to your new energy supplier.
Enjoy cheaper energy: You'll start saving money on your energy bills straight away!
Our energy price comparison calculator is Ofgem-regulated and completely free to use. We'll never charge you any fees or commissions for using our service.
So why wait? Start comparing energy deals today and see how much you could save on your gas and electricity bills. It only takes a few minutes, and you could save hundreds of pounds a year.
Switching your energy supplier can seem like a daunting task, especially if it's your first time. But don't worry, we're here to guide you through the process. Understanding your energy needs and evaluating different suppliers can help you find the best fit for your home and budget. We've compiled a list of key factors to consider, making the comparison process easier and more transparent.
Cost: Look for the rates offered by different suppliers. It's vital to understand how your energy cost is calculated, whether it's a fixed rate, variable rate or time-of-use rate.
Green Energy Options: If environmental sustainability is important to you, check to see if the supplier offers green or renewable energy options.
Customer Service: Consider the reputation of the energy supplier. Quick, helpful responses to queries and issues are important. Our guide on the best and worst energy suppliers can help with this.
Billing and Payment Options: Suppliers should offer convenient billing and payment options. Automated payments, paperless billing, and payment flexibility are features to consider.
Exit Fees: Be aware of any charges for switching your energy supplier before the end of your contract.
Contract Lengths and Terms: Consider the contract length and terms. Some suppliers offer a discounted rate for longer-term contracts.
Fuel Mix: Evaluate the energy supplier's fuel mix - the various sources they use to generate electricity. This can include fossil fuels like coal and natural gas, nuclear power, and renewable sources like wind, solar, and hydro.
"With energy prices set to drop by 12.3% from 1st April 2024, and the Market Stabilisation Charge expiring at the end of this month, we advise consumers to sit tight. There may be better energy deals around the corner."
- Scott Byrom, Head of Energy
Comparing gas and electricity prices and switching can save you money.
The latest 'State of the Energy Market' report from Ofgem shows that the number of unengaged customers is still high, and those who are unengaged are more likely to be on an expensive default tariff and paying over the odds.
The Energy Shop is a free and trusted energy price comparison site. We are Ofgem accredited, and our team of experts are dedicated to monitoring the energy market each day to find the best possible energy deals, whether you want to compare fixed rate energy tariffs or find the best green energy deal to help do your bit for the environment.
By using our energy comparison service, you could save hundreds of pounds a year on your gas and electricity bills. The amount you can save depends on a range of factors, such as your energy usage, your location, and the type of energy tariff you're on.
In general, customers who switch energy suppliers using our service save an average of £300 a year.
The key to finding the best energy deal for you is to compare a range of energy suppliers and tariffs. Our service makes it easy to do just that, so you can make an informed decision about which energy supplier to choose.
At The Energy Shop, we can guide you through exactly how to switch supplier and get the best rate all in a matter of minutes.
We do this by running a price comparison comparing tariffs from all of the UK's energy suppliers and showing all deals that meet your criteria for your area. To get started with the comparison, we will request some information about your location, current energy deal and usage. You can find all these details in your latest bill.
Once you have found the supplier and deal you wish to move to and confirmed the contract and payment method, your new supplier will contact you with a switching date.
Ofgem's new 'Faster Switching' programme, which came into effect in July 2022, means customers can switch supplier in as quick as 5 working days. This means customers can switch within their 14-day cool-off period OR they can wait and switch within 5 working-days after their 14-day cool-off period. If you switch within your 14-day cool-off period, and then want to cancel, you will obviously have to pay your new supplier for the energy you used during that time.
No, don't cancel your direct debits. This will be handled between the energy companies.
There's no hard and fast rule of when to switch energy suppliers. However if it's been a while since you last switched or you haven't switched energy supplier before, we would highly recommend comparing prices today. Other times it would be useful to think about switching is:
You don't need to be in credit to switch energy supplier, however there are different regulations based on the amount of debt you have and the type of tariff you currently use as to whether you can switch immediately or not. Rules are different again if you are in debt but use a prepayment meter.
If you're failing to pay your energy bills there are a number of steps you can take to avoid any disruption with your supply, and to help you repay what you owe.
Whether you can switch energy supplier whilst in rented accommodation will depend on who is named on the energy bills and who is responsible for paying them.
If the bills are in your name and you are making payments then you can change supplier as you wish. If the bills are in the name of the property owner, landlord, or an appointed agent, it is a decision they will need to make. If you are in this situation we would still recommend discussing with the relevant party.
Follow our step-by-step guide on switching energy suppliers and find out everything you need to know about the process.
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Get a full list of the cheapest electricity prices and find out how you can switch to a new electricity supplier in minutes.
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With many energy tariffs now having an exit fee, knowing when to switch is half the battle. Find out when to switch supplier without incurring a penalty.
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The Energy Shop is a free, independent and impartial energy price comparison service. We can help you compare and switch energy suppliers to help you save money. Our service is accredited by the Ofgem Confidence Code.
