Energy bills rise £380 but a green tariff could be cheaper
New figures reveal that consumers could go green and save money at the same time [1]
The cheapest green tariff is now just £8 more expensive than the cheapest deal on the market, compared to £110 a year ago [2]
Over 20 green plans are cheaper than the average big six standard variable tariff [3]
Over a quarter (28%) of energy customers are now more likely to choose an environmentally friendly deal than they were three years ago [4]
Green energy tariffs are now competing on price with the cheapest deals on the market, according to new analysis from Uswitch.com, the price comparison and switching service. The news comes as cheap fixed deals ending in June are set to push bills up by £380[1]. The cheapest green tariff is just £8 more expensive than the cheapest deal available, compared to £110 a year ago[2].
Following recent price rises, the top 24 cheapest green plans are less expensive than the average big six standard tariff[3]. Two-thirds of households are on these standard tariffs, which have seen price rises recently. The cheapest renewable energy deal, meanwhile, is a staggering £272 a year less than the average big six variable plan, meaning millions of consumers could in fact save money by going green[5].
The new data also reveals that over a quarter (28%) of energy customers are now more likely to choose an environmentally-friendly deal than they were three years ago[4]. Suppliers have responded by increasing the number of renewable energy deals from 13 to 30 in the last year[6] and the first green tariff from a big six supplier is expected to launch soon as well.
But, despite the fact that green deals are increasingly affordable, a quarter (24%) of consumers who aren’t already on a renewable energy tariff would actually be prepared to pay more for one, with 18% saying they’d be willing to pay up to £50 more per year[7].
Renewable energy tariffs are backed by at least 100% green electricity – meaning that, for every unit of electricity used, the same amount is produced and put back into the grid from a renewable source. In addition, some suppliers provide renewable gas from biomethane.
Claire Osborne, Uswitch.com energy expert, says: “Green energy tariffs are now within easy reach of consumers who want to limit their carbon footprint but don’t want to break the bank. It currently costs just 2p a day to go green when compared to the cheapest deal on the market.
“If your fixed deal is coming to an end this month, a green energy tariff could not only help mitigate your carbon footprint but could also save you some money. The seven in ten Brits languishing on an expensive standard variable tariff could cut their annual energy bill by an average of £272 by switching to a green tariff. Suppliers are offering more and more renewable energy options, so there’s now even more choice in the market.”
Fixed deals ending in June
Source: Uswitch.com correct as of 19 June, 2017
Best buy green tariffs
Source: Uswitch.com correct as of 19 June, 2017
Find out how you could save over £1,000 a year with Uswitch here.
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Tim Dunford
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Email: tim.dunford@uswitch.com
Twitter: @uswitchPR
Notes to editors
See tables 1 and 2 in body of release.
As of 19 June, 2017 the cheapest deal on the market is Green Network Energy at £858. The cheapest green deal is Tonik Energy at £866. £866--£858=£8. As of 1 June, 2016 the cheapest deal on the market was GB Energy at £735, the cheapest green deal was Bulb at £845. £845-£735=£110.
The average big six standard variable tariff is £1,138. There are 24 renewable energy tariffs cheaper than this, full table available on request.
Research carried out by Opinium between 28 April and 3 May, 2017. 2,008 online interviews with UK adults responsible for their energy bills. When asked if they are more or less likely to choose a green energy deal than they were three years ago, 28% said they were either much more likely or slightly more likely. 50% said there was no difference, 7% said they were less likely and 14% said they didn’t know.
The cheapest renewable energy tariff is £866. The average big six standard variable tariff is £1,138. £1,138-£866= £272.
Full details of tariffs available upon request. 13 renewable tariffs available 1/6/16 compared to 30 available 19/06/17.
Research carried out by Opinium between 28 April to 3 May 2017, 2,008 online interviews with UK adults responsible for their energy bills. When those not already on a green energy tariff were asked if they would be prepared to pay a premium for a renewable energy tariff that helps the environment, 18% said they would be willing to pay up to £50 more per year, 4% said they would be willing to pay £51-£100 more per year and 1% said they would be willing to pay £101-£150 more per year. 62% said they wouldn’t be willing to pay a premium, and 14% said they didn’t know.
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