The energy price cap will increase by 6.4 per cent from April, according to a Tuesday announcement from energy regulator Ofgem. It is anticipated to increase by £111 a year, or £9.25 a month, taking the total bill to £1,849, and comes as a consequence of rising wholesale gas prices since the start of the year.
Millions of homes in England, Wales, and Scotland are impacted by the cap, which is adjusted every three months and limits the amount that suppliers can charge for each unit of energy. Billpayers should think about moving to a fixed tariff, Ofgem advised, even though prices are expected to drop in July.
Here are the cheapest energy deals worth checking out, but it’s important to note that where you reside and how much you consume determine the exact cost of energy. Tariff: Extended Fixed 25 February 2025. Duration of fix: 17 months. Average annual bill: £1,680.
How much you’ll be saving with April’s cap: £169. Additional notes: Dual-fuel or electricity-only, smart meters not required, must pay by Direct Debit and £75 per fuel exit fees. Tariff: Fix'd Dual Feb25 v2.0. Duration of fix: 12 months. Average annual bill: £1,670.
How much you’ll be saving with April’s cap: £179. Additional notes: Dual-fuel only, smart meters not required, must pay by Direct Debit and £50 dual-fuel exit fees. Duration of fix: 18 months. Average annual bill: £1,671. How much you’ll be saving with April’s cap: £178.
Additional notes: Dual-fuel only, smart meters not required, must pay by Direct Debit and £100 dual-fuel exit fees. Tariff: Fixed Tariff V32. Duration of fix: 16 months. Average annual bill: £1,677. How much you’ll be saving with April’s cap: £172. Additional notes: £50 per fuel exit fees.
Tariff: So Aspen Two Year - Green. Duration of fix: 24 months. Average annual bill: £1,682. How much you’ll be saving with April’s cap: £167. Additional notes: £75 per fuel exit fees. Tariff: Simply Fixed Jun26. Average annual bill: £1,700. How much you’ll be saving with April’s cap: £149.
