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E.on price cut sends a clear message to those on standard tariffs: Switch!

13 January 2015

As the first of the big six energy providers reduces its standard tariffs for existing customers to reflect falling wholesale energy prices, Gocompare.com says the message is clear for households looking to save big money on their bills.

Jeremy Cryer, energy spokesperson at Gocompare.com, said: “While the price reduction for existing standard tariff customers will be welcomed, the message from E.on is quite clear – if you really want to save big money on your energy bills these days, you need to switch to a fixed tariff deal.

“E.on’s move spells out the options for households on standard tariffs up and down the country.  If you stick with your current provider’s standard tariff you might be lucky enough to get a few quid back, but if you are prepared to switch you could save over £300.

“The best deals have been getting cheaper and cheaper in recent months with a real price war breaking out between a number of the smaller providers.  Now one of the big six has joined in, it is looking like an even better time to shop around and save money.”

As a result of the price cuts in recent months, the energy best-buy table is now entirely comprised of sub-£1,000 tariffs - the first time that’s happened since mid-2012.

Top ten cheapest dual fuel tariffs

Supplier

Tariff

Annual cost

Saving vs typical bill*

Early exit fees

 E.on

Fixed 1 Year v14

£923**

£403

£5 per fuel

Extra Energy

Fresh Fixed Price January 2016 v5

£934

£392

£25 per fuel 

First Utility

iSave Fixed v42 March 2016

£935

£391

£30 per fuel

Extra Energy

Clear Fixed Price March 2016 v1

£935

£391

£25 per fuel 

Extra Energy

Bright Fixed Price March 2016 v1

£937

£389

£25 per fuel

Cooperative Energy

Fair & Square March 2016

£938

£388

£30 per fuel

Npower

Fixed Energy Online April 2016

£963

£363

None

ScottishPower

Online Fixed Price Energy January 2016

£970

£356

None

Ovo Energy

Better Energy Fixed (Online)

£973

£353

£30 per fuel

Green Star Energy

Rate Saver 12 Month Fixed 1412 Paperless

£987

£339

£30 per fuel

Based on dual fuel, payment by monthly direct debit, averaged across all UK regions and for households with an annual energy usage of 13,500kWh gas and 3,200kWh electricity (medium user). Correct as of 13/01/2015.

*Saving calculated against an average bill £1,326 as calculated by Ofgem November 2014.

**Assumes paperless billing - £5 per fuel more expensive if paper bills are selected.

For more information on switching energy supplier, read Gocompare.com’s guides, here: http://www.gocompare.com/gas-and-electricity/guide/

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