London Electricity and Gas Energy Suppliers

If you live in London and want the cheapest energy bills for your gas and electric supplies, then read on for information on how to achieve this.

The incumbent supplier was the London Electricity Board (LEB) until 1998 when EDF Energy acquired it. EDF is now the primary default electricity and gas supplier in London.

The LEB was a government utility company until the market was deregulated in 1989. If you haven’t done anything with your bills since then, you will likely have EDF as your energy supplier. However, you still maintain the option of choosing one of the many other electricity companies for energy supplies, and it’s a simple process to find the cheapest prices.

Lowering your energy prices in London

You don’t need to use your current supplier. If you are simply on a standard tariff, you’ll almost likely save money by switching to another provider or a different tariff. Here’s how you can do this in less than 30 minutes and perhaps save several hundred pounds per year on your bills.

• You don’t need to know who your current supplier is, although this may help. To get an accurate quote, you just need your postcode and either your annual or monthly spend on each utility or your meter readings.
• Either go to all the big six energy providers’ websites and get individual instant online quotes, or go to a price comparison website, which will show exactly the same rates but do everything on one page, saving you time going to each website. All tariff types will be shown for your property, and you can pick the one most suited to your circumstances.
• Sign up for the tariff you want and enjoy the savings.

It really is that easy to get new quotes and switch suppliers.

What else should I be aware of?

If you recently switched suppliers in the London area, you may have a termination fee to pay, but this is only for some contracts. Suppliers usually add exit fees on longer-term fixed-price tariffs. Check your online account to see if any penalties apply, as it may be more difficult to switch providers, and the additional charges will likely outweigh any savings you make.

Switching between companies is easy and can be achieved in 30 minutes or less. Your new supplier should do all the paperwork and switch over for you, so it will all happen almost automatically. Just be up to date with what’s happening during the switching process. Ensure you take final meter readings yourself on the day of the switch, just in case something doesn’t quite go to plan.

Also, check gas and electricity prices separately from dual fuel tariffs. Sometimes, a dual fuel tariff is not always the cheapest, but most energy companies allow you to get additional discounts by combining both electricity and gas.

Other ways to save money

Almost certainly, you will save more money if you pay your bills by monthly direct debit, sometimes up to a 10% annual discount if you pay in this manner. Other incentives that the energy companies offer include Nectar points (Sainsbury’s), joining credits (Octopus Energy) or half-priced electricity on Sundays (British Gas). Although these may be tempting offers, check the annual pricing before selecting your chosen tariff.

Further discounts can be had if you sign up for the prices online, manage your account without a paper bill, and submit your own meter readings on the energy company’s website.
At the time of writing, British Gas is the cheapest electricity and gas provider in London, although this may change as prices in the wholesale market fluctuate.