At comparethemarket.com we keep a close eye on what’s happening in the fast-moving energy world to help you keep up with the news.
Our latest energy snapshot looks at the most popular tariffs, switching trends and the winners and losers among the main energy providers.
Most popular tariffs
The most popular tariff by far at the moment is the Collective Fix from British Gas, with 30% of switchers choosing this deal. And rightly so – the average saving is £392.80 per year.
Interestingly, all five of the most popular deals are fixed tariffs, from extra energy (average savings £244.40 and £422.13), first.utility (saving £281.61) and Ovo Energy (£316.12).
But there are bigger savings available beyond these popular deals. The biggest average saving at the moment is a whopping £460.07, with extraenergy’s Clear Fixed Price. Yet less than two per cent of switchers are currently choosing this deal.
If you’re on a fixed price energy contract, make sure you know when it’s due to end so that you avoid any price hikes. Tariffs due to end of December include four deals from Green Star Energy, two from E.ON and three from Ovo Energy, so if you’re using any of these providers for your energy, check when it’s due to finish!
The great news is that people are getting wise to the fact that switching can save them money. At the moment 43 per cent of customers are choosing to switch away from the ‘Big Six’ energy providers, and only 8 per cent are switching to them. The biggest losers are currently E.ON, with 25 per cent of switchers choosing to move away from this provider. British Gas, meanwhile, is gaining the most new customers with nearly 31 per cent of switchers choosing them.
Thirty-somethings in the South East are currently leading the nation in switching and saving. Almost 25 per cent of all switchers are aged 30 to 39, and nearly 14 per cent of them are in the South East, closely followed by the North West (13.81 per cent) and Yorkshire (10 per cent).
The least likely people to switch are the under 21s – often because they’re not responsible for the bills in their household – and, interestingly, people in London and the North East.
Join in and save!
Whether you’re a regular switcher or it’s something you never quite get round to, you’re likely to save money.
It’s much quicker and easier to change energy providers than you think. If you have a bill handy, with our app Snapt you just need to take a picture with your phone and we’ll do the rest. We’ll present you with all the prices available, tailored to your home.
Once you’ve found a deal just fill in a form and the rest is done for you. So go on - compare energy prices now!