Ofgem announced last week that the energy price cap will fall by £84 in October - but you can save much more than that just by switching your tariff.
According to the industry regulator, some 11 million UK households will benefit from the new price cap. However, if you're one of them, then it means you're significantly overpaying on your energy bills.
In fact, you could save up to £200 a year if you switch to one of the best energy deals highlighted below. If you've got a recent bill to hand, just input your energy usage and postcode into our energy comparison tool, and we'll tell you how much you could save over the year. (If you don't have a bill to hand don't worry, we can still give you an estimate.)
- Reduce your bills: Find the cheapest tariffs in your area
Cheapest energy deal
Shell Energy | Energy September 2021 v4 | Fixed | Early exit fees: £30 per fuel | Average annual price: £841/year* | Save £201/year
Shell Energy can currently save the average household an extra £200 per year compared to the price cap, with its Energy September 2021 v4 tariff. It's a fixed deal, so the price of your energy is locked-in until September 30 next year. It also uses 100 per cent renewable electricity, making it a green tariff too. If you want to switch before the fixed 12-month period is up, you'll have to pay an early exit fee of £30 per fuel. See how much you can save by switching to Shell Energy
Cheapest Big Six deal
EON | Fix Online Exclusive v45 | Fixed | Early exit fees: £30 per fuel | Average annual price: £858/year* | Save £184/year
EON's Fix Online Exclusive v45 tariff will give you the familiarity of a Big Six supplier, with a bargain price tag. Switching to this tariff could save the average home an extra £180 per year compared to the price cap. It'll also save you 25 per cent on Boiler Cover through CoverServe. There are a few rules with this tariff, though: you need to pay by direct debit, manage your account online, and get a smart meter installed. If you want to leave before the term is up, the early exit fee is £30 per fuel. See how much you can save by switching to E.ON
Cheapest green deal
Pure Planet | 100% Green 12m Fixed Jul20 v1 | Fixed | Early exit fees: £30 per fuel | Average annual price: £842/year* | Save £200/year
If you're looking for a bargain green tariff, this fixed deal from Pure Planet will save the average home up to an extra £200 a year, compared to the price cap, and includes 100% carbon-offset gas as well as 100% renewable electricity. You'll need to manage the account online and pay by direct debit. Bear in mind that monthly costs will fall over the summer and rise over winter with your changing energy consumption. Again, there are early exit fees of £30 per fuel early exit fee. See how much you can save by switching to Pure Planet
* Average bill value based on Ofgem figures for medium dual-fuel use
Reduce your energy bills by switching
The savings above show how much the average UK household would undercut the price cap by switching to these tariffs. To see exactly how much you would save, you can use our price comparison tool to get a personalised estimate of how much each tariff above will cost you for the year.
You'll be able to compare the savings you'd make by switching to those tariffs with the other plans available in your area, to make sure you're choosing exactly the right option for your home.
The whole thing takes less than five minutes. All you need is a recent bill, so you can tell us how much energy you use, and your postcode. If you don't have a bill to hand, we can still estimate with the average household energy consumption - but it's much more accurate if you know your real usage.
When it comes to choosing the best energy supplier, consider whether you're more comfortable fixing prices for a year - or if you'd like to regularly check prices and switch more often, saving even more money (in which case, choose a variable tariff).
You also need to think about whether you want some kind of green energy. It's easy to get 100 per cent renewable electricity without a green premium now - and sometimes the best green energy suppliers are the cheapest, too.