Average tariff prices by supplier: Standard variable and fixed default vs cheapest available tariffs (GB)

Chart

Source: Energyhelpline; Suppliers.

Information correct as of: July 2018

This chart shows average prices in the last quarter for each of the ten larger suppliers in the non-price protected segment that offer both variable and fixed tariffs. These include suppliers’ default tariffs (SVTs and, if available, fixed term default tariffs) and cheapest tariffs, which are compared with the average price of the market cheapest tariff in the period between April and June 2018.

 

Policy Areas:

  • Electricity - retail markets
  • Gas - retail markets

Data Table

Average tariff prices by supplier: Standard variable and fixed default vs cheapest available tariffs (GB)

SupplierSupplier's annual average fixed term default tariffSupplier's average annual standard variable tariffSupplier's cheapest annual average tariffMarket cheapest annual average tariff
British Gas109611201054788
SSE11211094788
E.ON11491004788
EDF11451023788
Scottish Power113211621060788
npower11761059788
First Utility11011132958788
OVO Energy10491034788
Utility Warehouse1125999788
Co-operative Energy10861158960788

More information

At-a-glance summary

In Q2 2018, the average standard variable tariff (‘SVT’) price for a domestic customer with one of the ten larger suppliers in the non-price protected segment that offer both variable and fixed tariffs ranged between £1,049 and £1,176.

As of June 2018, only four out of these suppliers offered a fixed term default tariff. The average prices of these tariffs were below their respective SVTs, with the difference being around £30 for three of these suppliers and £72 for one supplier.

The cheapest deals in this period were all above the average market cheapest tariff of £788, ranging between £958 and £1,094. The average SVT price differentials in the period were between £16 and £198 relative to these suppliers' cheapest tariffs and between £261 and £387 relative to the market cheapest tariff. For an overview of the SVT and price trends over time see our chart on the Retail price comparison by company and tariff type.  

Relevance and further information

This chart measures the savings available to customers on default tariffs if they change tariff or switch supplier.

It should be considered jointly with our chart on the Number of non-price protected domestic customer accounts by supplier: Standard variable, fixed and other tariffs (GB)

Our data shows default tariffs are usually more expensive than other deals available in the market. Customers on default tariffs are potentially missing out on significant savings on their bills compared to cheaper tariffs from their existing or another supplier.

For previous updates, please see our page here.

Methodology

  • We calculate the bill values associated with the different tariff types using a ‘typical medium domestic consumer’. As of October 2017, typical consumption values for a medium consumer are 12,000kWh/year for gas and 3,100kWh/year for electricity (profile class 1). All tariffs shown in the chart are for a dual fuel, direct debit customer. We do not show prices from suppliers with fewer than 250,000 non-price protected customer accounts, for either gas or electricity. We also exclude suppliers which offer only a limited range of tariff types, such as those only offering a variable tariff.
  • We use weekly prices across the quarter prior to publication to calculate the average SVT price. We take the price data for each Monday of every week in the analysed period. The source is Energyhelpline for SVT and cheapest tariffs, while fixed term default tariffs are sourced from suppliers. SVT prices in this chart always refer to paper billing prices. 
  • We use the same calculations to produce the average cheapest tariff price for each supplier and for the average market cheapest tariff price. When calculating the cheapest tariff at both individual supplier and market level, we exclude tariffs restricted to certain regions. This is so we give a representative picture of tariffs generally available to all customers across GB. 
  • When calculating the cheapest tariff at individual supplier level, we include tariffs only available to existing customers (also known as ‘retention' tariffs) and exclude tariffs only available to new customers (also known as ‘acquisition’ tariffs). 
  • When calculating the cheapest tariff at market level, we include tariffs only available to new customers (also known as ‘acquisition’ tariffs) and exclude tariffs only available to existing customers (also known as ‘retention' tariffs). 
  • Collective tariffs or exclusive deals only available through a supplier’s website or through a specific price comparison website are included to the extent they are ‘open collective switches’ available to all customers. We also include tariffs restricted to a particular payment method, except for prepayment. 
  • The cheapest tariffs can include fixed and variable tariffs, may or may not involve exit fees, rewards or discounts, may only be available online and may be offered by any suppliers active in the market. Some suppliers included in the average market cheapest tariffs may not offer the Warm Home Discount. 
  • We include tariffs available with ‘white label’ providers in the calculation of the market cheapest tariff. Where relevant, we have also included them in the cheapest tariff offered by the parent supplier of the ‘white label’. ‘White label’ providers are organisations without supply licences that partner with an active licensed supplier to offer gas and electricity tariffs using their own brand.
Date correct
July 2018
Policy areas