Energy · Deals checked today
Cheapest energy tariffs: fixed and variable compared
The quick answer
For a typical home in London paying by Direct Debit, the cheapest tariff here on 26 Oct 2026 is Octopus Energy Flexible Octopus at £1,697 a year (about £141.38 a month). The Ofgem price cap for the same home is £1,723 a year. Every rate is read from the supplier's own tariff page.
Price cap now · Ofgem
£1,723 a year
Electricity £858 · Gas £865 · typical home
- Electricity per kWh
- 26.32p
- + 54.83p a day
- Gas per kWh
- 7.97p
- + 29.68p a day
1 Oct 2026 to 31 Dec 2026
Typical home · dual fuel · Direct Debit
Energy tariffs, cheapest typical bill first
Rates differ by region, so each region has its own table. The bill is for Ofgem's typical home: electricity and gas, paid by Direct Debit.
London
AffiliateRanked by price, read from each seller's own site. Prices checked on each provider's own site, 26 Oct 2026.
Eastern England
AffiliateRanked by price, read from each seller's own site. Prices checked on each provider's own site, 26 Oct 2026.
How to compare tariffs
Compare tariffs by their yearly bill, not their headline rate. Our tables show the cost for Ofgem's typical home: 2,500 kWh (kilowatt-hour) of electricity and 9,500 kWh of gas a year, paid by Direct Debit. Each figure comes from the supplier's own published rates, worked out region by region.
Two parts make up every bill. The unit rate is the price of each kWh you use. The standing charge is a fixed daily amount for each fuel, paid even on days you use no energy. A low unit rate can still cost more if the standing charge is high.
Prices vary by region, so check the table for your own area. Then use the energy bill calculator to swap in your own usage. Each table shows the date its prices were last checked.
Fix or stay variable?
A fixed deal keeps your unit rate and standing charge the same for the whole contract. A variable tariff changes when the price cap changes, and Ofgem sets the cap every three months.
Fixed deals usually run for 12 to 24 months. That gives you a steady bill, even when the cap rises. But leaving early can cost an exit fee for each fuel, so check the length before you sign.
Standard variable tariffs follow the cap. Ofgem sets it on 1 January, 1 April, 1 July and 1 October. Your rates can move on each of those dates.
Not sure which suits you? Read our fixed vs variable guide. Then sort the table by yearly bill and check the exit fee on each provider's site.
What will your bill be?
Put in your own use and see your yearly bill on today's price cap.
Switch in four steps
Switching energy takes four simple steps. Your new supplier does most of the work.
- Read your meters. Write down the number on each gas and electricity meter.
- Pick your tariff. Check the yearly bill for your region. Not sure how much energy you use? Try our energy bill calculator.
- Sign up. Choose Direct Debit. It is the cheapest way to pay on the price cap. Give your meter readings when asked.
- Let your new supplier take over. Sit back while they handle the switch.
Straight answers
Questions people ask
- What is the cheapest energy tariff right now?
- The cheapest tariff changes with your region, so compare each supplier's yearly bill for where you live. Our tables show that bill for a typical home using 2,500 kWh of electricity and 9,500 kWh of gas a year. Pay by Direct Debit, because standard credit costs more, and check the last-checked date on each table.
- Is a fixed energy deal cheaper than the price cap?
- Not necessarily. It depends on the rates on offer, so compare them in our tables for your region. The price cap limits the rates on standard variable tariffs and changes every three months. A fixed tariff holds your unit rates and standing charges for 12 to 24 months, but leaving early can cost an exit fee per fuel.
- How long does it take to switch energy supplier?
- Your new supplier handles the switch for you, so you only need to sign up with them. Ask for your start date when you sign up, so you know when your new tariff begins. Have your latest meter readings ready before you start.
Keep comparing
Your next question, answered
- Fixed vs variableFixed or variable energy tariff? How each works against the Ofgem price cap, when fixing saves money and what exit fees cost.
- Your Co-op EnergyYour Co-op Energy tariffs, flexible and fixed, priced for a typical home and set beside the big suppliers and the price cap. Exit fees and the sign-up reward explained.
- Energy bill calculatorWork out your gas and electricity bill on the current Ofgem price cap from your yearly use, and compare your own tariff. Free.
