Energy switching snapshots

Our monthly Energy Snapshot is designed to give you the low-down on great energy deals that we’ve found for our customers, as well as showing the average savings you could potentially make if you were to switch today.

August 2019 Energy Snapshot

There’s so much in the press these days about the cost of gas and electricity that it’s easy to feel bewildered when it comes to choosing an energy deal that’s right for you. We want to help you with some straightforward, easy-to-understand information, so here’s our Energy Snapshot for August 2019.

It includes facts about how much our customers saved when they switched, who they switched from and who they switched to, as well as the most popular tariffs that we offered last month at Compare the Market.

This isn’t a matter of opinion like much of what you read, this is the low-down based on the actual experiences of our customers.

Energy switching snapshot
Average savings based on usage information entered by Compare the Market customers during August 2019. Achievable savings can vary among customers depending on individual household usage.

What are the latest market developments?

The cheapest energy tariffs tend to be fixed-term, fixed-rate deals. Customers with these deals need to be aware of their tariff’s end-date, so that they can look for another great deal to take its place.

Compare the Market research has shown that more than 413,000 households could be automatically switched to expensive ‘default’ tariffs between July, August and September 2019 if they don’t switch tariffs or provider when their current energy deal comes to an end.

In this three-month period, 227 fixed energy tariffs are set to end. Rolling on to these default tariffs could collectively cost UK households almost £109 million a year, or an average increase of £262 per household.

Our snapshot lists the 85 energy tariffs that end in September 2019, so if yours is on the list, now’s the time to look for a new deal that could save you money.

Top savings

While we know that some of you can be put off switching energy providers, many of you have already discovered that it can be worth it and have benefited from some amazing energy deals.

So what kind of savings can be made with these switches? Some of the figures might surprise you.

Customers who switched with us in August 2019 to Simplicity Energy’s Cauliflower19 tariff made an average saving of £297. The next highest saving was with Orbit Energy, as customers who switched to their Beat The Cap – Jul19 tariff saved an average of £291.

The Big Six

Over the past year, we’ve seen people leaving the Big Six in large numbers. That trend has flatlined with 22% of you moving over to a Big Six supplier during August – the same as last month's figure.

It’s worth noting that our highest saving tariff in August came from a so-called ‘smaller’ supplier. A big worry for customers is whether these smaller suppliers are as reliable as the Big Six, or whether there are adequate protections in place if a provider goes bust. However, you can rest assured, as Ofgem has introduced safety measures and guarantees to protect customers in these circumstances, so you’ll never lose your supply.

Great deals can be found right across the energy market, so it’s always a good idea to compare all types of supplier to find one that meets your needs.

Simple switching

So how can you find these amazing deals? We’ve made it simple. You can  compare energy tariffs here  to find a great deal. 

So, what are you waiting for? If you’ve been with your energy company for more than a year, you can almost certainly save money. Why not compare today and see if you could be part of the savings we report in next month’s snapshot.