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

Chart

Source: Energyhelpline.

Information correct as of: April 2018

This chart shows average prices in the last quarter for each of the 10 larger suppliers in the non-prepayment segment. These include suppliers’ standard variable and cheapest tariffs, which are compared with the average price of the market cheapest tariff in the 3 month period between January and March 2018.

The prices shown in the chart are calculated using the new TDCV values that entered into effect from 1st of October 2017 (see the methodology section for more details).

In practical terms, this means that the tariffs offered after February 2017 are likely to appear slightly lower than those before February 2017.  

 

Policy Areas:

  • Electricity - retail markets
  • Gas - retail markets

Data Table

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

SupplierSupplier's average annual standard variable tariffSupplier's cheapest annual average tariffMarket cheapest annual average tariff
British Gas1101959814
SSE11211042814
E.ON1133948814
EDF1142994814
Scottish Power1147974814
RWE npower11661047814
First Utility1132913814
OVO1097937814
Utility Warehouse11251004814
Coop1158992814

More information

At-a-glance summary

In March 2018, the average standard variable tariff (‘SVT’) price for a domestic customer with one of the ten larger suppliers in the non-prepayment segment ranged between £1,097 and £1,166.

The cheapest deals from the ten large suppliers were all above the average market cheapest tariff of £814, ranging between £913 and £1,047. The average SVT price differentials in the period were between £78 and £218 relative to the ten large suppliers’ cheapest tariffs and between £283 and £352 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 SVT customers if they change tariff or switch supplier.

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

Our data shows SVTs are usually more expensive than other deals available in the market. Customers on SVTs 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). 
  • We do not show prices from suppliers with fewer than 250,000 non-prepayment customer accounts, for either gas or electricity.  
  • We use weekly prices across the quarter prior to publication to calculate the average SVT price. We take the data from Energyhelpline for each Monday of every week in the analysed period. 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).
    • 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).
    • 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
April 2018
Policy areas