Energy Comparison: Compare Gas & Electricity Prices - Uswitch - Uswitch (2024)

The energy price cap is a limit on the unit rates and standing charges that energy suppliers can charge for their standard variable tariffs. The cap is set by the UK’s energy regulator,Ofgem, four times a year.

From 1 July to 30 September, the price cap is set at:

• £1,568 for an average use dual fuel household paying by Direct Debit
• £1,522 for those with a prepayment meter.

The cap applies to unit rates - that's the actual price that’s changing. But to more clearly report it to customers, the annual figure is based on an average use dual fuel customer paying by direct debit. Always remember that you could pay more than the cap if you live in a bigger house or use more energy. You could also pay less if you use less.

TheEnergy Price Guaranteewas introduced by the government as a response to the high price cap announced by Ofgem in August 2022. It froze the price cap at £2,500 until July 2023, when the price cap fell below that limit.

The EPG ran in the background until April 2024 at a higher level of £3,000.Thismeant that the price cap would need to be forecast higher than £3,000 per year for an average household for the EPG to come into effect again. However, the government has now withdrawn it as a policy, so it is no longer in effectat all, regardless of the price cap level.

Energy bills are high becauseof various factors that have caused the price of wholesale energyto rocket.Thismeans it costs energy suppliers more to buy the energy they supply to customers, so they have to charge customers moreso they canafford their own costs.

While limited fixed deals are beginning to return to the market, they may not berightfor you to switch toyet. Consider your options andtake alook at our guide to fixing energy deals for more information.

One way to reduce the amount you pay for your energy is to track how muchyou'reusing. Check that your billis basedon actual readings of your gas and electricity meters rather than estimated ones.It’simportantto take your own readingsso that youget charged accurately.

Or you could consider getting asmart meter, which provides real-time meter readings and can help you track your energy usage. You can request one from your supplier or switch to a smart meter tariff.

It'sgoing to be difficult, given the current state of the energy market, for many customers to find a cheap gas and electricity deal. Energy prices have risenby a significant amount, with deals a lot more expensive than they were a few years ago.

A standard variable tariff,whichiscappedat £1,568 from 1 July to 30 September, may be the cheapest dealavailablefor many customers.But some fixed deals could offer price certainty. Consider your options carefullyand.

Sincetheprice capwas introduced,it'sfair to say that ithasn'thelped cutpeople'senergy bills.The standard variable tariffs it applies to havestillbeen the most expensive on the market, especially when compared to fixed deals.

While energy prices have been extremely high for the past two years, they are lower than they have been.Thishas allowed Ofgem to drop the cap level twice in a row. Butit’simportant to remember that this is a cap on the unit rate of the energy you use, not a cap on your total bill. The less energy you use, the lessyou’llpay. You can still save money by managing your energy usage.

Thismeans that suppliers are starting to offer limited numbers of fixed energy deals to customers again,allowing them to potentially move away from being governed by the price cap.Thismay not be the right move for everyone, though.

Energy prices can change every day as they reflect the market news. If you're on a variable plan, your rates will probably change throughout the year. They'll currently be at £1,568 until the end of September and then potentially rise slightly in the autumn.

On a fixed plan, your rates will stay the same during the fixed period.

Most of the UK’s energy suppliers are signed up to the Energy Switch Guarantee. This guarantees that the supplier you’re switching to will complete the process and that it will be done within five days.

There’s also a two-week ‘cooling-off’ period, during which you can cancel the switch free of charge.

There’s no need to get in touch with your old supplier once you’ve made your energy switch. Once it’s been told of your switch, the supplier should send a final bill and close your old account once you’ve paid any outstanding amount.

While there’s no need to cancel your Direct Debit, you can do this through your bank if you want to be more confident you won’t still be charged. Just remember to settle your final bill first.

Your gas and electricity won’t be interrupted at any time. Even if your supplier goes out of business and you’re transferred to another supplier, the lights and heating will stay on.

Most energy suppliers are signed up to the Energy Switch Guarantee, which requires switching to be reliable and hassle-free. With that in mind, any problems involving the interruption of your supply are extremely unlikely.

You can switch energy supplier if you’ve been in debt for fewer than 28 days - the money you owe will be added to your final bill. If you’ve been in debt for longer, you probably won’t be able to switch until you’ve settled that debt (unless the supplier’s billed you incorrectly).

If you’re on a prepayment meter, you can switch as long as the debt to your current supplier is less than £500.

If you’re moving and you want to take your current deal with you, let your provider know - depending on where you’re moving to, you may be able to take it with you. If not, you’refree to switch away from the default supplier at your new property in the normal way.

One thing to remember to do is take a meter reading on the day you move out, and take another one at the new property when you move in. This will ensure you’re only paying for what you use.

You can usuallyswitch energy supplier if you’re a renterwho pays the energy bills. If the landlord pays the energy bills, you’ll need to get their permission.

If you want to only seegas dealsorelectricity deals, you can filter available tariffs on our results table.

If you don’t want to switch energy supplier, you still might be able to find a cheap gas and electricity deal with Uswitch.

If you haven’t switched energy before, it’s likely you’re on your provider’s standard variable tariff, which is typically the most expensive tariff. You can use Uswitch to compare energy deals from your current provider if you’re happy with the service but want to save on your energy bills.

The best type of energy tariff for someone else won’t always be the right one for you. The most important thing to think about is whether you want a dual fuel deal or whether you want single fuel deals from two different suppliers.

There will be prices to consider, as well as the reputation and size of different suppliers. Think about what’s most important to you and make your decision based on that.