Best fixed electricity tariff

mrmmhf

Who’s the cheapest energy provider at the moment in the UK on a fixed tariff and what’s the rate? We’re looking to switch to get a great tariff because we have an air source heat pump.

[Deleted User]

The cheapest supplier for your annual usage in kWhs and Post Code, is unlikely to be the same as the one for my usage and Post Code. Use a PCW such as the Citizens Advice Energy Comparison website.

mrmmhf

OK. Thanks.

macman

And forget the rate (unit cost). What matters is the total annual cost, which is made up of the unit cost and the standing charge.
If there was a 'universal cheapest', we would all be on it.

Phones4Chris

macman said:

And forget the rate (unit cost). What matters is the total annual cost, which is made up of the unit cost and the standing charge.
If there was a 'universal cheapest', we would all be on it.

Whilst you are correct about the total annual cost obviously, I wouldn't "forget" about the unit rate exactly. With an ASHP usage will be high, the important thing is to shove accurate (or your best estimate) kWh usage into the comparison site and then look in detail at the tariffs and do your own sums. Don't rely on any "savings" figures, use them as a guide.
@mrmmhf Think about how your bill will change if usage is higher (or lower) than your estimate.

Al_Ross

Symbio Energy, are currently cheapest for Electricity in the UK. Thinking about switching to them soon as my current deal is soon to expire. Read reviews, not everybody’s cup of tea, they use a bit of a weird billing system, but price looks appealing

Symbio Energy

Low Fair and Green 12M Fixed SE03 v12

As displayed on Uswitch

Contract typeFixed Early exit fee £ 30.00

Key Features

Green energy *Price Guarantee &
Price Match Policy Paperless Billing

With Symbio you will save£ 230.51 per year In comparison with British Gas Don't Believe Us go to Uswitch & Compare

Details

Unit rate Standard Rate12.789 p per kWh Standing Charge18.500 p per day

Tariff ends on31 January 2021Price guaranteed until 31 January 2022 Discount & additional chargesNot Applicable

[Deleted User]

Hi,

remember that 'fixed' means unit price and standing charge is fixed, not your monthly DD.

The more you use the more you pay.

[Deleted User]

Al_Ross said:

Symbio Energy, are currently cheapest for Electricity in the UK. Thinking about switching to them soon as my current deal is soon to expire. Read reviews, not everybody’s cup of tea, they use a bit of a weird billing system, but price looks appealing

Symbio Energy

Low Fair and Green 12M Fixed SE03 v12

As displayed on Uswitch

Contract typeFixed Early exit fee £ 30.00

Key Features

Green energy *Price Guarantee &
Price Match Policy Paperless Billing

With Symbio you will save£ 230.51 per year In comparison with British Gas Don't Believe Us go to Uswitch & Compare

Details

Unit rate Standard Rate12.789 p per kWh Standing Charge18.500 p per day

Tariff ends on31 January 2021Price guaranteed until 31 January 2022 Discount & additional chargesNot Applicable

That might be the case for you, but not for me. It is important, imho, to point posters towards a PCW as costs for the same usage vary markedly across various regions/postcodes. Neon Reef would be some £s cheaper per year for me.

coffeehound

mrmmhf said:

Who’s the cheapest energy provider at the moment in the UK on a fixed tariff and what’s the rate? We’re looking to switch to get a great tariff because we have an air source heat pump.

Is this a new home for you, or do you know how many kWh units you use each year?

matelodave

Don't get too fazed by a higher than average standing charge, you really want the lowest charge perk kwh as you use lots more kwh. As said above look at the overall annual cost

Even an extra 10p on the standing charge is only worth £36.50 a year whereas 1p/kwh is worth £10 per 1000kwh. and its likely that you'll be using between 5,000 to 10,000 kwh a year, so every penny you save on a kwh could save you between £50-£100 a year.

macman

Why make this sound so complex? Any price comp site will do the calculation for you taking both the unit cost and the standing charge into account. Just feed it the right kWh input. OP already has an ASHP and so should have some idea of what it's using during the heating season.

Most people who go down the heat pump route will have done some research and have a reasonable idea of what the annual usage is likely to be: it's not exactly an impulse buy.