Single out your energy supplier as dual fuel deals fall short
Households can beat the best ‘dual fuel’ deals on the market by an average of £55 a year if they switch to separate suppliers for their gas and electricity, according to the price comparison service Make It Cheaper.
The best fixed-price dual fuel deal on the market - offered by Extra Energy - currently averages at £991 a year but single fuel prices from across the market bring the overall figure down to £936. And, when taking regional variations into account, single fuel deals can mean even greater savings. Households in the SWEB distribution region (South West of England), for example, will see the biggest difference in price when comparing the best dual fuel deal available to single fuel tariffs for their electricity and gas. They would save a further 7.3% - or £77 a year - off their bills by choosing a combination of Daligas for their gas and Extra Energy for electricity, rather than opting for the best dual fuel tariff.*
However the lowest single fuel tariffs in the UK are currently available in the Yorkshire Electricity distribution region (includes all or part of Derbyshire, Lancashire, Lincolnshire, Nottinghamshire and Staffordshire as well as East/West/South Yorkshire).** By choosing Zog Energy for their gas and Extra Energy for electricity, this region’s households will see average energy bills drop down to £911 a year, instead of £968 for the best dual fuel. That’s £287 a year less than the average standard dual fuel rates of the Big 6 suppliers (£1,198).
Table showing the cheapest energy deals by distribution region
|Region||Best Dual Fuel||Single Fuel||Difference (%)||Saving|
Average annual savings per household when buying single fuel tariffs instead of dual fuel
Scott Byrom, energy expert at Make It Cheaper, said:
“Most people like the convenience of having both gas and electricity on the one bill but there’s a growing number who take a contrary view. Not only are they saving even more money by going for single fuel deals but they’re managing their consumption better by having a clearer picture of exactly how much they’re spending on each. These are savvy shoppers with no qualms about choosing the newer entrants to the market because you can be sure none of the Big Six are prepared to lower their prices to anywhere near this level.”
In August 2014, three quarters (74%) of customers switching energy supplier via Make It Cheaper selected deals from smaller suppliers. This compares to just 14% in August 2013.
To find the best energy deals in your area - and to see how much cheaper the single fuel options work out to be - enter your postcode into www.makeitcheaper.com/domestic-energy, and look for the ‘Gas only’ / ‘Electricity only’ tabs at the top of the table on the results page.
- ENDS -
Notes to editor:
* Figures are based on Ofgem’s Typical Domestic Consumption Values: 3,200 kWh of electricity and 13,500 kWh of gas.
** Energy distribution areas are still based on the 14 Public Electricity Supplier (PES) regions that the UK was divided into prior to privatisation of the electricity market in the 1990s. More information can be found here: http://en.wikipedia.org/wiki/Public_electricity_suppliers
About Make It Cheaper: Based in Central London with 140 staff, Make It Cheaper has been the No.1 destination for businesses to get a better deal on their utilities since it launched in 2007. Following its acquisition of Ofgem Confidence Code-accredited www.UKPower.co.uk in 2012, Make It Cheaper also provides competitive energy prices and free expert advice for households – online and over the phone. Its supplier panel includes all of the Big 6 and 26 of the UK’s smaller domestic and non-domestic energy companies. For businesses and charities it also offers savings across other overheads including: telecoms, insurance and merchant services. The company has appeared in the Fast Track 100 for the past three years and has won the title of ‘Consumer Champion’ at the Energy Live Consultancy Awards for the past two years. Its 2014 ‘Net Promoter Score’, based on 4,080 customer satisfaction questionnaires completed year-to-date, is 66.
Further information: Nick Heath 020 7654 0730 / 07720 297972 / firstname.lastname@example.org
Running your business is about to get a lot easier
Our expert service helps you get on – and stay on – lower, fairer rates for electricity, gas, landline, broadband, merchant services and insurance.
Call us to get started.