Compare Electricity Prices For Your Home or Business

Follow These Guides to Reduce Your Bills

Although the winter months are the most expensive, you should check that you’re on the right tariff twice a year. To check current availability, all you need is the postcode of your premises and the meter number for businesses.

With energy costs at all-time highs, homeowners are unlikely to be able to switch suppliers or tariffs. Moreover, the energy market shows no signs of improvement, although the government has various schemes available to help with the cost of living crisis.

New regulations introduced the energy price cap policy that is now updated four times per year. In addition, the regulator, Ofgem, uses market and customer data to protect consumers from soaring costs.

We post news, analysis and research into these topics to assist with lowering your energy bills in order to save money. Businesses are not part of the energy price cap and still need to have a contract in place for their gas and electric supply.

Current Electricity Prices for Homeowners

Ofgem has attempted to simplify residential tariffs and cut down the options available from the energy suppliers. Generally, for each supplier, you’re offered one standard variable rate, a longer-term fixed rate deal and a capped rate. The Energy Price Cap dictates the maximum tariff charges. Today’s electricity prices are:

Current standard daily charges and 2024 rates

Note: The figures in brackets represent the percentage change on the previous quarter.

Tips to Lower Your Energy Bills

Although there is limited loyalty in this industry, your existing provider may offer lower energy deals for existing customers so check your online account first. To get a whole market comparison, follow the following three steps:

• Step 1: Compare your home postcode online at least twice per year.
• Step 2: Select either a discounted or fixed rate term from the lowest provider.
• Step 3: Complete your details and you’ll be transferred automatically in two weeks.

Paying monthly by direct debit reduces prices by between 4% and 10%, depending on the supplier. If you have a pre-payment or coin-operated meter, try to change this to a regular smart meter to enable you to select lower-priced options.

What Are The Latest Business Electricity Prices?

In most cases, businesses have to select a fixed-priced contract for at least one year. After that, longer terms are available with a price premium, with the option of variable pricing introduced shortly.

Data correct as of 22nd August 2024 based on new contract prices for a two-year agreement. These rates exclude VAT and Climate Change Levies.

When looking for new business electricity rates, we recommend following the following steps to find the lowest-priced contract:

• Terminate your contract at least eight weeks before the end date.
• Use a broker or comparison site to compare prices.
• Sign the new agreement and the switch will occur on the anniversary date.
• Complete our quote form online or call us on 020 3062 5158 for details.

Be aware that extremely high rates are applicable if you do not renew a terminated contract.

Which Supplier is Best for Me?

Regional differences apply around the UK based largely on the market before deregulation. A contract from one supplier can be cheaper in London than Birmingham for the same property. The typical electricity bills for all regions is shown in the graphic below.

The providers in the UK include British Gas, Cooperative Energy, Dual Energy, E.ON, Ebico, Ecotricity, EDF Energy, First Utility (now Shell), Gazprom, GDF Suez, Good Energy, Green Energy, LoCO2, Opus, Ovo, Octopus, Power NI, Sainsburys, Scottish Power, Spark Energy, Scottish and Southern, Total Gas & Power, Utilita, and The Utility Warehouse.

Company Information

Formed in 2009, Electricity Prices provides comparison services for homes and businesses. Electricity Prices is a trading style of Teneric Limited. Registered in England and Wales no. 04164858. Registered office: Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. We are not a supplier of energy but an intermediary. We adhere to Ofgem policies and the TPI code of conduct of the Utilities Intermediaries Association for business owners. Any brand logos are trademarks of the company concerned. ICO registration no. ZA044596.