Best energy deals right now
The cheapest energy tariffs in the UK, compared against the Ofgem price cap. Bookmark this page and check back monthly.
The Ofgem price cap for Q1 2026 is £1,758 per year for a typical household on direct debit. Several fixed deals currently beat this at around £1,520–£1,600 per year. If you're on the standard variable tariff, switching to a fixed deal could save you £150–£230 per year right now.
The energy market changes constantly. What's cheapest today might not be next month. This page tracks the best deals available and whether they're actually worth switching to.
The Price Cap Benchmark
Everything starts with the Ofgem price cap. This is the maximum suppliers can charge on their default variable tariff:
| Payment Method | Annual Cost (Q1 2026) | Monthly |
|---|---|---|
| Direct debit | £1,758 | £147 |
| Prepayment | £1,711 | £143 |
| Quarterly bills | £1,894 | £158 |
If you haven't switched in a while, you're probably on the price cap rate. Any fixed deal below these numbers saves you money.
Cheapest Fixed Deals (February 2026)
These are the standout fixed tariffs right now:
| Supplier | Tariff | Est. Annual Cost | Contract | Exit Fees |
|---|---|---|---|---|
| Outfox The Market | Fixed | ~£1,524 | 12 months | Yes |
| E.ON Next | Fix'd 14m | ~£1,596 | 14 months | Yes |
| Octopus Energy | Fixed | ~£1,632 | 12 months | No |
| OVO Energy | Fixed | ~£1,668 | 12 months | Yes |
| British Gas | Fixed | ~£1,680 | 12 months | Yes |
Costs are estimates for a typical household (medium usage). Your actual bill depends on how much energy you use.
Ofgem-accredited comparison site. Takes ~3 minutes.
Should You Fix Now?
Analysts expect the April 2026 price cap to drop around 6% to roughly £1,652 per year. That means:
Fixing now makes sense if the deal is below £1,652 and you want certainty. You lock in savings regardless of what happens.
Waiting might pay off if you think the cap will drop further. But you're gambling, and wholesale prices can swing either way.
The safe bet: A 12-month fix with no exit fees (like Octopus) gives you savings now with the flexibility to switch again if something better appears.
What to Compare
Don't just look at the headline annual cost. Check these:
| Factor | Why It Matters |
|---|---|
| Unit rates (electricity + gas) | What you actually pay per kWh |
| Standing charges | Daily fixed cost, varies between suppliers |
| Exit fees | Cost of leaving early if a better deal appears |
| Contract length | 12 months is standard, some offer 14-24 |
| Green energy | Some tariffs are 100% renewable at no extra cost |
| Customer service | Octopus consistently top-rated, British Gas mixed |
Where to Compare
Use multiple sources, not just one comparison site:
Ofgem-accredited comparison sites are required to show a fair range of tariffs. These include Uswitch, MoneySupermarket, and Compare the Market.
Citizens Advice energy comparison tool is fully independent and takes no commission. It shows fewer deals but is the most neutral.
Go direct to suppliers as well. Some tariffs don't appear on comparison sites because the supplier doesn't want to pay commission.
Ofgem-accredited. Shows tariffs from all major suppliers.
Deals to Avoid
Variable tariffs from smaller suppliers that aren't cheaper than the price cap. There's no point switching to a lesser-known supplier for the same price.
Very long fixes at current rates. A 24-month fix locks you in even if prices drop significantly.
Tariffs with very high exit fees. If exit fees are £100+ per fuel, you're trapped even if a much better deal appears.
When to Check Back
Energy prices update quarterly with the price cap (January, April, July, October). The best time to switch is usually 4-6 weeks before a new cap period starts, when suppliers release their new fixed deals.
Set a reminder for mid-March 2026 to check again before the April price cap change.
Sources
This page contains affiliate links. If you switch through a link on this page, we may earn a commission at no extra cost to you. This doesn't affect our recommendations.