No sooner had energy bills risen this winter than a chilling cold snap sent our heating systems into overdrive. The mercury plummeted and soon came the snow. As a result most of us will now be facing the prospect of costly heating bills.
But to the rescue come some suppliers who are keen to get new customers and they come offering cashback of up to £40. So is switching to one of these offers worth doing?
ScottishPower’s exclusive deal just announced today is a £15 cashback per fuel offer (£30 per dual) until the 6th February. The £30 cashback makes Scottish Power Online Fixed the cheapest fixed rate energy tariff in the UK, trouncing most standard tariffs by hundreds of pounds. Its rates are guaranteed until August 2014 (over a year and a half) and with projected savings of £235 over a typical bill and no cancellation fees, it’s a real winner.
One of the cheapest variable tariff now comes with cashback too - First Utility's iSave v14 is offering £40 special cashback and savings of £290. But remember this one isn’t a fixed rate so you could get hit by a price rise on this tariff. First Utility is offering the cashback until midnight Friday 8th February.
Whatever you choose, one word of essential advice; don’t stay on a standard tariff from a supplier – most of these are really costly and could hit you hard in the pocket.
Don’t shiver in silence. It's much better to switch to a cheaper tariff. Then you can relax knowing you’re a great deal for your energy not an overpriced one. The cashback offers are available for a limited time only.
|
Supplier |
Tariff |
Average Cost |
Saving vs Typical Bill* |
Fix or Discounted Variable |
Notes |
Cancellation Penalties |
|
|
First Utility |
£1110† |
£290† |
Discounted Variable |
Prices fixed for three months then variable. **With extra £40 cashback in year one |
£30 / fuel until end of three month fix then no penalty |
||
|
SSE |
£1,146 |
£254 |
Discounted Variable |
Prices are guaranteed to be 11% cheaper until 31st March 2014, and 2% cheaper from 1st April 2014 until 1st April 2015. |
£50 if you switch away before 1st April 2014 |
||
|
Co-op Energy |
£1,157 |
£243 |
Standard |
Includes recent price drop. Available with paper bill at no extra cost. |
None |
||
|
ScottishPower |
£1135† |
£235† |
Fix |
Prices fixed until 31st August 2014 |
None |
||
|
First Utility |
£1,170 |
£230 |
Fix |
Prices fixed until 30 April 2014 |
£30 per fuel until end of fix |
||
|
OVO Energy |
£1,172 |
£228 |
Fix |
Prices fixed for 12 months |
£30 per fuel until end of fix |
||
|
EDF |
£1,182 |
£218 |
Fix |
Prices fixed until 30 June 2014 |
None |
||
|
npower |
£1,182 |
£218 |
Fix |
Customers on this tariff are guaranteed at least 2% lower bill than npower’s current Standard (off-line) variable prices until 31st August 2014 |
£30 per fuel until end of discount period 31/8/2014 |
||
|
British Gas |
£1,193 |
£207 |
Discounted Variable |
6% discount against Clear & Simple prices until 28th February 2014 |
£30 per fuel until end of discount period 28/02/2014 |
||
|
Sainsbury's Energy |
£1,193 |
£207 |
Discounted Variable |
6% discount against Clear & Simple prices until 31/01/2014. |
£30 per fuel until end of discount period 31/1/2014 |
* Saving calculated against a typical gas and electricity bill for someone who has never switched and pays by quarterly cash / cheque costing £1,400 (Source: energyhelpline, 29/1/2013)
† Includes cashback
All calculations are for an average usage dual fuel household paying by monthly direct debit. Average usage as defined by OFGEM is 16,500 kWh pa of gas and 3,300 kWh pa of electricity