There’s no denying that potential energy cost savings are small at the moment. But don’t let that put you off switching to a cheaper deal if you’re on an out-of-contract tariff.
Last March, customers could have saved more than £300 per year by switching gas and electricity deal. Currently, the biggest saving for an equivalent home is £139.
Savings look smaller because the price cap on standard (or out-of-contract) energy deals is around £100 lower than it was a year ago. But deals also aren’t as cheap.
However, if your tariff is ending, or you aren’t on a fixed tariff, you should find the best deal you can, or risk a price rise from 1 April when the new price cap in introduced.
If you switch energy supplier you could save around £128 a year – likely more when the energy price cap increases. Find the cheapest energy supplier for you, using Which? Switch.