If your gas and electricity are going to get more expensive due to Ofgem’s energy price cap increase, it may be time to start the hunt for the cheapest energy supplier.
We’ve put together this guide to help find a cheaper energy supplier, despite the announcement last month indicating that all major suppliers are increasing energy prices.
Who is the UK’s cheapest energy supplier?
There’s no one ‘cheapest supplier’. You will usually find a handful of suppliers that regularly offer great deals ahead of others. As prices change daily, it is better to make sure you compare energy prices across a large portion of the market. You can compare energy prices here.
The suppliers listed below are based on set parameters that may not apply to your usage or location, so it is always better to compare energy prices before committing to a gas and electricity contract.
Despite not having a ‘cheapest energy supplier’, here are the top 5 that regularly offer great deals on gas and electricity.
Top 5 Cheapest Energy Suppliers in the UK
- Orbit Energy – Spring Vari-Save Extra Tariff
- Hub Energy – Hub Smart Choice Tariff 12 April 22 v1
- Green – Hawthorn Tariff
- Outfox the Market – Spring 21 Variable Tariff
- Avro Energy – Simple and GoSwitcher Tariff
Top 5 cheapest energy suppliers according to Which? 
Other notable energy suppliers with cheap tariffs:
- Shell Energy
- British Gas
- E.ON Next
- Pure Planet
Despite these energy suppliers being the top rates for cheapest tariffs, it largely depends on your usage patterns. Business energy users will have a different set of requirements in comparison to the everyday household. However, the advice remains the same for both sets of customers. It is a good idea to regularly compare energy prices to make sure you’re getting a great energy deal.
Pure Planet and Octopus Energy offer very competitive tariffs. However, many people feel much more comfortable choosing a well-known energy supplier. More traditional energy suppliers like British Gas and E.ON offer regular deals that are occasionally some of the cheapest available. Challenger energy suppliers are offering some great deals to break into the market, and they should not be overlooked. Most stick around and should any energy supplier go out of business, you’re automatically transferred to a new supplier for the remainder of the contract. Your energy supply will not be turned off. You will also be paying the same energy prices you agreed to.
There are often larger discounts available on both home energy and business energy when choosing a digital-only service. More traditional companies are also reacting to the threat of digital challenger suppliers by creating new digital-only energy brands such as British Gas Lite and E.ON Next.
Many challenger energy suppliers excel in customer service and have largely contributed their growth and success as many customers value service much more. For example, Octopus Energy is growing rapidly with a strong reputation for customer service by achieving Which? Recommended Provider for 4 years in a row (2018, 2019, 2020 & 2021).
Why do I need to switch energy suppliers?
Switching energy suppliers saves you money annually. If you have not switched in a few years, savings can be hundreds of pounds. It’s quick and easy to compare energy prices, and with the upcoming change to the energy price cap, many households are fixing their gas and electricity for multiple years.
However, many more households and businesses are demanding better customer service. As the energy market becomes much more competitive, energy suppliers are constantly trying to improve service alongside energy prices.
You may also be looking for an energy supplier that is offering extras, such as digital energy bills, smart meters, dual fuel tariffs and direct debit discounts.
How to switch energy suppliers?
It has become much easier to switch gas and electricity. It starts by finding the right deal. Many bargain hunters compare energy prices using an energy retailer. You can compare energy here.
It will be much easier to find accurate energy prices if you have recent energy bills to hand. You will be able to use accurate usage figures to get your new energy quote.
Once you have selected your new energy supplier, you’re ready to switch. If you decide to switch with Power Compare, we’ll manage the switch for you. You’re also backed by the Energy Switch Guarantee.
- The switching process is fully managed for you
- You will be with your new supplier within 21 days
- Your energy supply will not be interrupted
- In the unlikely event that a problem occurs during the switch, your new supplier will resolve any problem as quickly as possible
- You can change your mind within 14 days
- Any credit on your old account will be refunded within 14 days of your final energy bill.
For business energy customers, the process is a little more complicated. However, if you decide to switch with us, you will be assigned a dedicated account manager to handle the whole process for you. We’ll make sure you’re getting a great deal based on your businesses needs, including any installation of multi-site and half-hourly meters if necessary. We’ll also be in touch during your renewal window to make sure you do not roll over onto any expensive out of contract rates.
When is the best time to switch energy supplier?
It is better to switch energy supplier before the colder months start. This is usually before October. As the days get shorter and colder, people will start using more gas and electricity. Being on a cheaper energy deal will help save money as you start to approach the expensive festive period.
You’ll typically find a cheaper energy deal if you switch every 12-18 months. It’s a good idea to set a reminder of when your fixed tariff deal is coming to an end. Starting the compare energy prices around 3 months before the end of your deal is advised. This gives you time to find the right deal and switch energy supplier before your deal runs out. If you do not switch energy supplier in time, you’ll be transferred onto a standard variable tariff. These are usually one of the more expensive deals to be on.
Can I switch energy supplier at any time?
Home energy customers can switch energy supplier at any time. However, some supplier may charge an early exit fee. This is usually about £30 per fuel. Despite the early exit fees, it may actually save some households money on their energy bills by paying the early exit fees.
This largely depends on your current energy deal. For example, you’ll likely save money by switching if you’re on a standard variable deal. You may also want to switch for other reasons, such as poor customer service or want to choose a green energy tariff.