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So far this year the ‘big six' energy providers have already increased their prices twice. These rises have added an average 17.4% to gas bills and 10.8% to electricity bills. In such a tough environment it is fundamental to compare and find the cheapest tariff in your area.
The latest research by a leading comparison site found that British people spend up to £3.9 bill on paying energy bills.
After the recent second wave of price hikes, shopping around and moving to the best value supplier could save Brits around £313 a year – up to 24% off their energy bill; says the study.
Best energy deals
According to the report, among the six main companies, EDF Energy (the last one in raising its prices for the second time) is the provider offering the best deals on the energy market in 13 of the 14 UK energy regions.
As an example, the study mentions that those who have never switched providers and are living in the North West pay around £1,351.30 a year on a standard tariff, whereas with EDF Energy they would reduce their bills to £996 per year.
The study also states that the fixed price energy deals currently offer the best value deals. Despite those kinds of tariffs are not the cheapest, they assure customers that the cost of energy bills will not increase despite further price hikes; says research.
A few weeks ago, E.ON and Scottish & Southern Energy (SSE) announced their raise in prices and latest EDF's announcement of price hike made it the sixth and last supplier to join this trend.
Our free independent energy monitoring service is designed for those wanting an impartial and independent way to keep an eye on their energy costs.
Our customers let us know their tariff details and usage, and every four months we check they are still on the best tariff.
Comparing gas and electricity prices is a great way to save money, particularly considering the current financial situation.