But here's the reality:
There is no single supplier that is the cheapest for everyone at the same time.
The cheapest energy supplier right now depends on:
Your postcode
Your annual electricity usage (kWh)
Your annual gas usage (kWh)
Your tariff type (fixed or variable)
Your payment method
Your contract timing
In this guide, Utility King explains how to determine the cheapest energy deal today — based on data, not headlines.
First Principles: What Makes an Energy Supplier "Cheapest"?
To answer this properly, we must define what "cheapest" means.
Every energy bill is calculated using:
This means the cheapest supplier is not the one with the lowest unit rate alone.
It is the supplier that produces the lowest total annual cost for your usage profile.
Small differences in unit rate can scale significantly if you are a high-usage household.
Standing charges also matter — especially for low-usage homes.
Why There Is No Universal Cheapest Supplier
Energy pricing varies by region due to:
Electricity network charges
Gas network costs
Infrastructure density
Regional competition
The cheapest energy supplier in London may not be the cheapest in Manchester, Cardiff, Glasgow, or Belfast.
Fixed vs Variable: Which Is Cheapest Right Now?
When comparing energy deals, you will usually see two main types.
Fixed Energy Tariffs
A fixed tariff locks in your rate for a set period (often 12–24 months).
Advantages:
- Protection from price increases
- Budget stability
- Predictable monthly costs
Disadvantages:
- Exit fees may apply
- You may miss price drops
In stable or rising markets, fixed deals often provide the most predictable savings.
Standard Variable Tariffs (SVT)
A variable tariff:
- Has no fixed end date
- Allows suppliers to adjust rates
- Usually has no exit fees
SVTs are flexible — but often not the cheapest long-term option.
Many households default onto an SVT when a fixed contract ends.
Remaining on an SVT without comparing alternatives is one of the most common causes of overpayment.
How to Find the Cheapest Energy Supplier Right Now
At Utility King, we recommend following a structured process.
Gather Your Annual Usage
You need:
- Electricity usage in kWh
- Gas usage in kWh
Using estimated averages can distort comparison results. Real data produces realistic savings calculations.
Calculate Your Current Annual Cost
Use your current unit rate and standing charge to establish your baseline.
This tells you whether a new tariff truly saves money.
Compare Total Annual Cost
Ignore headline marketing.
Focus on:
- Unit rate
- Standing charge
- Estimated annual bill (including VAT)
- Payment method differences
The cheapest energy supplier right now is the one offering the lowest total annual cost — not the lowest advertised rate.
Check Contract Timing
If your fixed tariff is ending soon:
- Compare within your renewal window
- Avoid automatic rollover to a standard variable tariff
Timing can affect availability of competitive fixed deals.
Special Cases That Affect "Cheapest"
Your ideal tariff may differ if you have:
Electric vehicle (EV)
Heat pump
Solar panels
Economy 7
Prepayment meter
New build property
For example:
EV owners may benefit from time-of-use tariffs. Solar panel owners must compare export rates as well as import rates.
The cheapest deal for one household may not be the cheapest for another.
Is It Safe to Switch Energy Supplier Right Now?
Yes.
Switching energy supplier:
Does not interrupt your electricity or gas
Does not require infrastructure changes
Is fully regulated
Includes a cooling-off period
The physical energy network remains unchanged. Switching only changes who bills you.
Utility King's Perspective
At Utility King, we caution against chasing headlines like: "Cheapest energy supplier today!"
Instead, we encourage households to ask: "What is the cheapest energy tariff for my usage and postcode right now?"
Energy markets reward proactive consumers.
The most common mistake is not switching at the right time — especially when a fixed contract expires.
The cheapest supplier is not a brand name. It is a calculation. And that calculation changes with: Usage, Region, Market conditions, Timing.
Frequently Asked Questions
Who is the cheapest energy supplier right now?
It depends on your postcode, usage, and tariff type. There is no universal cheapest supplier.
Are fixed tariffs cheaper than variable tariffs?
Often yes, but it depends on current market conditions.
Should I switch immediately if I find a cheaper deal?
Check exit fees first if you are still within a fixed contract.
How often should I compare energy suppliers?
At least once per year or when your fixed contract ends.
Does switching energy supplier affect my supply?
No. Your energy continues uninterrupted.
Is the cheapest tariff always the best option?
Not necessarily. Consider customer service, contract length, and financial stability as well.