Trystan Casey
Energy bills can be expensive, and with the cost of living crisis, many people are looking for ways to cut down on expenses. One way to do this is by switching energy suppliers. The cheapest energy supplier in the UK varies from year to year and depends on factors such as usage, location, and current deals. In 2024, Octopus Energy was named the cheapest energy supplier in the UK, followed by Outfox the Market, E.ON, and Shell Energy. In 2025, Octopus Energy consistently tops the list again, especially for students. Other suppliers that offer competitive rates include So Energy, Good Energy, and Co-op Energy. It is important to compare energy prices and deals to find the cheapest supplier for your specific needs and location.
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What You'll Learn
Cheapest energy suppliers for students
Energy costs can be a concern for students, especially with the current energy prices at an all-time high in the UK. The good news is that there are several energy suppliers that offer competitive rates, flexible contracts, and payment alternatives specifically for students.
Octopus Energy is one of the most well-known energy suppliers in the UK, with a strong focus on renewable power. They have been consistently ranked as one of the cheapest energy suppliers, offering both fixed and variable prices without any exit costs. They also reward customers for using less energy when the grid is stressed. For environmentally conscious students, Octopus Energy's commitment to renewable energy and simple, transparent communication makes it an attractive option.
Another supplier to consider is Tulo Energy, which offers full control over your contract and is a practical choice when watching every expense. Outfox The Market is also worth mentioning, as they offer some of the cheapest fixed-price deals and competitive rates for those who want predictable bills.
Co-op Energy is an affordable and ethical choice, with competitive prices and a commitment to green energy. They offer fixed tariffs with no exit fees, providing flexibility if your circumstances change. Ecotricity is another supplier with a focus on 100% renewable energy, and their prepaid energy solutions allow students to control and monitor their energy usage in real time.
When choosing an energy supplier, it is important to compare tariffs, consider dual fuel discounts, and monitor energy usage, especially in shared student accommodation. Websites like Compare the Market, MoneySuperMarket, and MoneySavingExpert can help students find the most competitive rates based on their energy needs and preferences.
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Environmental protection needs
Octopus Energy is the UK's most awarded energy supplier, and is consistently ranked as one of the cheapest suppliers in the UK. They are one of Europe's largest investors in renewable energy and provide solar and wind power generation. They also reward customers for using less energy when the grid is stressed.
Another supplier, Ecotricity, is Britain's greenest energy company and was one of the UK's first green electricity suppliers. They invest in wind and solar energy, and have built two new sun parks in Devon and Leicestershire. They also supply vegan electricity, and are developing greengas mills to make sustainable gas from grass.
SO Energy is a smaller green supplier known for transparency and value. They supply 100% renewable electricity and allow customers to vote annually on how their power is sourced.
Good Energy is another supplier that specializes in 100% renewable electricity and works with local producers. Their focus is on sustainability and supporting British renewable generators.
Scottish Power is also a green energy supplier, with their green tariffs backed by 100% green electricity from their wind farms in the UK.
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Price caps and variable tariffs
The energy price cap is the maximum amount energy suppliers can charge per unit of energy and standing charge if you're on a standard variable tariff. The price cap does not limit your total bill—if you use more energy than what is covered by the cap, you will pay more. Price caps are reviewed and updated every three months.
The price cap was introduced by the UK government in 2019 and is set by Ofgem every January, April, July, and October. The price cap is based on how much it costs energy suppliers to supply gas and electricity to their customers. The cap affects around 22 million UK households without fixed deals, which usually means higher energy costs for these customers.
Standard variable tariffs are typically the most expensive deals available. If you are on a standard variable tariff, switching to a fixed tariff will almost certainly lower your bills. However, if you are on a fixed tariff, the price cap won't affect you, as your prices are locked in for the duration of your contract.
Variable tariffs are also known as standard variable tariffs or default tariffs. They are different from fixed tariffs because the prices are not locked in for the duration of the contract. This means that if the price cap or energy prices change, variable tariffs may become more expensive than fixed tariffs.
When comparing energy deals, it is important to be accurate with your information so that you can find the cheapest provider for your needs. The best supplier for you will depend on factors like your energy usage, your current deal, and where you live.
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Fixed deals and exit fees
Fixed-rate energy tariffs are usually for 1, 2, or 3 years, during which the daily standing charge and the kWh unit rate for gas and electricity remain fixed. The total amount paid will depend on energy usage, but the price per unit will remain the same. Fixed deals are beneficial as they offer price certainty, allowing for easier budgeting.
Exit fees, also known as early termination fees, are charged by energy suppliers when a customer leaves a fixed-rate tariff before the end of their contract. These fees are in place because energy suppliers have to ensure they have purchased enough energy to cover a customer's usage over the fixed period, and if a customer leaves early, the supplier is usually out of pocket. Exit fees vary by supplier and can range from £5 per fuel to £72 per fuel for a 3-year fix. Some suppliers, such as Octopus Energy and E.on, do not charge exit fees at all. It's important to note that exit fees on fixed energy tariffs have increased significantly due to the energy crisis and market volatility, and can now be as high as £600.
When comparing energy deals, it's essential to consider exit fees, especially if you're thinking of switching suppliers before your contract ends. In the UK, you can switch energy suppliers without paying exit fees if you're within 49 days of your contract ending. This is the perfect time to shop around for a new supplier and take advantage of cheaper deals. Additionally, some suppliers, like British Gas, allow customers to switch to another of their tariffs without incurring exit fees.
While fixed deals offer price stability, it's important to be mindful of the potential for high exit fees if you need to terminate your contract early. Variable-rate tariffs do not have exit fees as the rates can vary over time, but they may not offer the same level of price certainty as fixed deals.
Overall, when considering fixed deals and exit fees, it's crucial to carefully review the terms and conditions of any energy contract before making a decision. By understanding the potential costs and benefits of each option, you can make an informed choice that best suits your needs and budget.
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Dual fuel vs separate tariffs
The cheapest electricity supplier in the UK depends on a variety of factors, including your location and energy usage. However, Octopus Energy is consistently mentioned as the cheapest energy supplier in the UK. They are a well-known supplier with a strong focus on renewable power, offering great value for money, no-fuss service, and quick support.
Now, when it comes to dual fuel vs separate tariffs, here's what you need to know:
Dual Fuel Tariffs
A dual fuel tariff is when you receive both your gas and electricity from the same supplier. This can make managing your energy bills simpler and more convenient, as you'll only have one bill to keep track of and one supplier to deal with. Many suppliers offer combined gas and electricity bills, making it easier to monitor your total usage and costs. Additionally, some suppliers provide exclusive discounts and lower rates for dual fuel tariffs, although this is not always the case.
Separate Tariffs
Separate tariffs, also known as single fuel tariffs, are when you have different suppliers for gas and electricity. This gives you the flexibility to choose the best supplier for each fuel type, allowing you to find the most competitive deals for each. However, managing separate tariffs can be more complex, as you'll need to juggle multiple bills and suppliers.
The choice between dual fuel and separate tariffs depends on your preferences and circumstances. If you value simplicity and convenience, a dual fuel tariff may be ideal, especially if you can find a supplier that offers discounts for dual fuel plans. However, if you're willing to put in the extra effort to manage separate suppliers, you may be able to find more favourable rates for each fuel type. Ultimately, it's important to compare all the available tariffs and suppliers to find the best deal for your specific needs.
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Frequently asked questions
Switching energy suppliers can help you find a cheaper deal than the one you’re currently on, which can reduce your expenses.
Some of the cheapest electricity suppliers in the UK include Octopus Energy, Outfox the Market, Utilita Energy, and Ecotricity.
The cheapest electricity supplier for you will depend on factors like your usage, current deal, and location. You can use an online comparison tool to find the best supplier for your needs.
October is a good time to switch, as you’ll need more gas and electricity for heating and lighting during the winter months. You can also switch without penalties if you’re within 49 days of your contract ending.
