PRICE HIKE

The cheapest energy deal on the market has risen by £100 in just six months – but here’s how you can cut your bill

Energy tariffs are soaring, with even the cheapest deals rising rapidly. Here's how to cut your bill

HOMEOWNERS are being urged to switch energy deals, as costs for gas and electricity continue to soar.

Standard variable tariffs now cost, on average, more than £1,000 a month at most energy firms, including those outside of the big six, and prices continue to climb.

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Cheapest tariffs in September 2016 compared to the cheapest tariffs today

Even the cheapest deals are rising rapidly.

New analysis by price comparison uSwitch.com shows that the cheapest energy deal on the market has increased by £100, or 14 per sent, over the past six months.

The cheapest deal on the market then was IRESA's Flex 1 tariff, costing £734 per year. But today, the cheapest deal is IRESA's Flex 4 tariff, at £834 a month.

Five of the big six energy suppliers have hiked the price of their cheapest tariffs by an average of 16 per cent, or £135, since September, with the cheapest deal on offer from E.ON increasing the most significantly, by a staggering 26 per cent, from a £760 a year in September to £959 today.

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SSE's cheapest fixed deal was £782 in September and is now £970.

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And prices look set to continue rising, as many suppliers end their price freezes over the next few months.

With a difference of £143 between the average big six cheapest deal and the cheapest fixed deal on the market today, homeowners are being urged to shop around to find a better deal.

And with seven in ten families on the priciest standard variable tariffs, it's more important than ever to switch.

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  • Wash your clothes at 30 degrees rather than 40. Around 90 per cent of a washing machine’s energy expenditure is spent on heating water, so washing at a lower degree will save you a lot of money.
  • Get draught excluders. Blocking the breeze coming through the gaps in your windows and doors can cut your energy bills by around £35 a year.
  • Switch energy supplier to ensure you’re on the cheapest deal. Millions of households are overpaying for gas and electricity, because they’re on standard variable tariffs which typically cost more than fixed deals. A new energy league table by regulator Ofgem can tell you whether you are on the best deal.

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