Press release:

uSwitch launches energy market’s cheapest tariff in over four years

  • The new tariff – won by E.ON through a collective switch initiative – is the cheapest since November 2010[1] and is available until 27th May 2015
  • Priced at just £876 per year based on average dual fuel consumption, the plan is a staggering one third or £419 less than the average energy bill – and is £23 lower than the market’s current cheapest tariff[2]
  • Households on big six standard variable plans could collectively save in the region of £4.5 billion by switching to the new deal[3]
  • The deal is exclusive to uSwitch account holders with prices fixed for 12 months, and is available to dual fuel and electricity only customers who pay by monthly Direct Debit. Early exit fees of £30 per fuel apply.

uSwitch.com has today launched the market’s cheapest dual fuel energy deal in over four years[1]. At just £876 a year, average customers could save a staggering £419 on their energy bills[2].

The collective switch initiative, available only through uSwitch.com until 27th May, is also £23 less than the market’s existing cheapest deal[2]. uSwitch.com estimates that if all the 15.8 million households currently on big six supplier standard variable plans switched to the new tariff, they could collectively save in the region of £4.5 billion[3].

As part of the collective switch, uSwitch.com used the power of its customer base to invite energy providers to bid to supply a competitive deal for consumers, with E.ON submitting the lowest priced tariff.

To switch to this new, market-leading plan, customers should visit www.uSwitch.com or call 0800 093 06 07 by 27th May and sign up for a free account. The tariff – fixed for 12 months from sign up – is available to dual fuel and electricity only customers and early exit fees of £30 per fuel apply.

E.ON was voted by a panel of over 5,000 consumers ‘Large Supplier of the Year’ in the 2014 uSwitch energy awards, with an average customer satisfaction rating of 76%. The supplier was also voted best for reward schemes and helping customers become more energy efficient. 

Tom Lyon, energy expert at uSwitch.com, says: “Millions of consumers could cut their energy bills by almost a third by switching to this market-leading energy plan – the cheapest in over four years. The tariff is available exclusively through uSwitch.com and could cut a massive £419 a year off the average energy bill.

“E.ON – who won this collective switch scheme – was crowned Large Supplier of the Year 2014 so customers signing up to this new tariff can also benefit from excellent customer service as well as lower energy bills.

“I’d urge consumers to visit uSwitch.com to see how much they could reduce their bills by, and take advantage of this fantastic offer before 27th May.”

— ends —

Notes to editors

 

  1. The new plan is the cheapest since an EDF Energy tariff in November 2010 which cost £867. This excludes any potential collective switch schemes
  2. All prices quoted are based on a dual fuel customer consuming medium energy usage as defined by Ofgem (3,200 kWh of electricity and 13,500 kWh of gas per year), paying by monthly Direct Debit, with paperless billing. Prices averaged across all regions. ‘E.ON uSwitch Collective Apr 2015’ plan costs £876.21 a year for a dual fuel medium user paying by monthly Direct Debit. The average dual fuel energy bill is currently £1,295 a year (Source: Ofgem March 2015 update https://www.ofgem.gov.uk/ofgem-publications/94187/chartdataasofmarch2015-xlsx) – £418.79 more expensive). The new collective switch plan is 32.3% less than the average dual fuel energy bill. The cheapest dual fuel plan on the market (as of 23/04/15) is ‘Premium Energy Saver’ from GB Energy at £899 (£23 more expensive)
  3. uSwitch estimate based on the following calculation: total number of households in the UK is 26.4 million (ONS, Families & Households, 2013). 60% (number of households on standard tariff – source: Competition and Markets Authority) of 26.4 million is 15,840,000. Total difference between the average big six standard variable tariff (£1,163 paying by Direct Debit) and the ‘E.ON uSwitch Collective Apr 2015’ tariff (£876.21 – paying by Direct Debit) is £286.79. This number multiplied by the estimated number of households on a standard tariff (15,840,000) is £4,542,753,600

The ‘E.ON uSwitch Collective Apr 2015’ plan is only available to customers with a standard or E7 meter.

About us

Launched in September 2000, uSwitch is an online and telephone price comparison and switching service, helping consumers get a better deal on gas, electricity, broadband, TV services, mobiles and personal finance products including mortgages, credit cards, car and home insurance. Last year we saved UK consumers over £278 million on their energy bills alone.

Customers can sign up to an account that automatically monitors the energy market and notifies them when they can move to a cheaper tariff, while broadband customers can conduct a speed test to find out how fast their broadband is and identify the best deal for their postcode.

The multi award-winning 'Switching Made Simple' app allows customers to compare energy, broadband, credit card, mobile and SIM-only deals – and uSwitch also has a UK contact centre manned by energy and broadband experts. Customers can post their latest energy bills to FREEPOST USWITCH to receive a free call back and be guided through the comparison process, or they can email customerservices@uswitch.com with their postcode and usage details.

uSwitch is owned by ZPG, which operates some of the UK’s most trusted digital brands that help empower smarter property and household decisions including Zoopla, Money, PrimeLocation and SmartNewHomes.

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