The energy provider which offers the best value across the UK is E.ON, according to analysis of the energy market by moneysupermarket.com.
Following the recent price changes to the big six energy company's tariffs, moneysupermarket found that E.ON has overtaken British Gas, to offer the cheapest dual fuel
deal in all 14 regions of the UK.
The study also found that the difference between the cheapest and the most expensive energy tariff means that Brits could be paying as much as 22 per cent too much on their energy bills
if they fail to shop around for the best deal.
As much as £1.7billion could be saved if UK households were to switch energy provider
to get a cheaper deal online, moneysupermarket says, with each bill payer shelling out an average £216 a year more than they have to by sticking with their current provider. Gas and electricity providers
hiked their prices last year as the price of oil soared, which caused the cost of household gas to rise 47 per cent and electricity by 28 per cent, according to moneysupermarket's figures, but the recent energy price cuts has seen the cost come back down by just 3.6 per cent and 6.2 per cent, respectively.
Rival comparison site uSwitch.com has calculated that following the recent price cuts, households are only £41 a year better off on average.
"Households may be tempted to sit on their current tariff after the recent round of price reductions, but I would say to those people there are even greater savings to be had by comparing the new look market to find the best deal for their circumstances," said Scott Byrom, utilities manager at moneysupermarket.com.
"This advice is even more important for Brits who have never looked into changing their energy deal and are still languishing on their incumbent providers' standard deals. I urge customers to proactively check the market to ensure they find the tariff that most suits their situation. Online products continue to lead the way in terms of value with monthly direct debit payments offering the highest level of customer discounts."
Mr Byrom also warned customers not to let the approaching warmer months of summer deter them from switching energy provider: "consumers shouldn't sit back in the knowledge that their next round of bills will be cheaper," he urged, "they should act now to get on a good deal and save as much money as possible while prices are lower and their consumption reduces."Compare gas and electricity quotes »
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