Energy tariff switch could save you £221

A single switch could save your household £221 on energy this year.

If you are still on a standard variable energy tariff, you are likely paying more than you need to. National analysis suggests households that switch to a fixed deal in 2026 could save £221 over the year, a difference worth considering as winter bills arrive across Richmond.

What the saving means in practice

The £221 figure applies to typical dual-fuel households. Energy suppliers set standard variable rates quarterly, and these tend to sit higher than fixed tariffs currently available on the market. The savings come from comparing your existing variable rate with fixed-rate deals offered by competing suppliers, many of which lock in a lower unit price for 12 months or more. The difference accumulates over the year, particularly if you use gas for heating during colder months. Switching takes about 10 minutes online, and your supply continues uninterrupted while the new supplier handles the transfer. You do not need to wait for your current contract to end if you are on a variable tariff, as these carry no exit fees.

Frequently asked questions

How do I know if I am on a standard variable tariff?

Check your most recent energy bill or log into your supplier’s online account. If your tariff is labeled as variable, standard, or default, you are not on a fixed deal. You can also call your supplier directly to confirm.

Will switching affect my energy supply?

No. Your gas and electricity continue to flow through the same pipes and cables. The new supplier simply takes over billing, and the transfer happens in the background over two to three weeks.

What should I compare when looking at fixed tariffs?

Focus on the unit rate for gas and electricity, the standing charge, and the contract length. Use a comparison site or check multiple suppliers directly, and make sure the annual cost estimate reflects your actual usage rather than a national average.

Useful resources

• Ofgem energy price comparisons