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Is now a good time to switch energy provider?
Despite high prices, should you be fixing an energy deal?
Energy prices for price-capped tariffs increased by 1.2% on 1 January 2025 and they're predicted to rise again in April.
After a long drought of competitive energy tariffs during the energy crisis that began in 2021, many people have fallen out of the habit of comparing energy costs between suppliers. Most households are still on a variable (also called standard, default or out-of-contract) tariff, which means your energy company is able to change your prices whenever the cap moves – every three months.
If you fixed a tariff in the past six months, it’s likely that you’re already paying a little less than the price cap; however, for those still on a variable tariff, now might be a good time to make the switch.
Read on to find out why, or head straight to our guide on how to get the best energy deal
The current price cap
Under regulator Ofgem's energy price cap, typical energy bills for a medium-use household are currently around £1,738 per year or £145 per month. The current cap will be in place from January to March 2025.
The price cap doesn't limit your total bill. Instead, it restricts the price per unit (measured in kWh) that energy companies can charge. It's split differently depending on the region of the country you're in, but the averages for direct debit customers are currently 24.86p per kWh of electricity (with a standing charge of 60.97p per day) and 6.34p per kWh of gas (with a standing charge of 31.65p per day).
Your total bill depends on how much electricity and gas you use.
The price cap will change again on 1 April 2025. Current predictions are that prices will rise again – while opinions differ, energy companies seem to think this will be by more than originally thought, and that the increase could be somewhere between 3% and 6%. We'll know what the new capped rates will be at the end of February.
Will you save money if you switch energy providers now?
It’s impossible to predict with 100% certainty how energy costs will fluctuate over the coming months. But we know they are predicted to rise over spring and summer; after the volatility of the past few years, it’s unlikely that we will see significant drops any time soon.
That means that if you can find a deal with rates cheaper than or similar to those you pay on your current variable tariff, now could be a good time to lock in a deal. You're likely to continue to make savings in the coming months.
We've seen several tariffs this month that would see you paying less for your energy than the price-capped rates from January. However, anyone hoping to save hundreds might be disappointed. When we last checked, the cheapest deal would save the average user £160 a year compared to the price cap – that's a saving of around £13 per month. For high-energy-use households, you stand to save more.
See our table of the recent cheapest energy deals
Although you’re unlikely to save much money in the short term with a fix, it will protect you from any potential price rises throughout the year.
Note that if variable energy prices were to drop while you're fixed into your contract, you'll still have to pay your fixed rates. If you do want to opt out of your tariff early, some fixed deals will charge you to leave with hefty exit fees, whereas others won't. We'd always recommend choosing a deal with low or no exit fees where you can, to give yourself that flexibility later down the line.
Compare gas and electricity prices today: use our free, independent energy comparison service to find the best provider for you
What else should I consider before switching energy providers?
Of course, price should be the primary factor in choosing a fixed energy tariff. However, there are other factors to consider when switching provider, especially when many of the fixed deals you'll see will offer similar rates.
Suppliers that offer smooth and straightforward customer service when customers have queries and concerns can separate themselves from the pack and be worth considering.
Every year we survey thousands of energy customers and conduct an in-depth, behind-the-scenes assessment of energy firms' practices to reveal the best – and the ones to avoid.
Octopus Energy, Utility Warehouse, and 100Green were highly rated by their customers. Overall, they scored well enough in our behind-the-scenes assessment (which examined ease of contact, handling complaints, supporting customers who need it, smart meter targets, and switching) and in our customer survey to make them Which? Recommended Providers for 2025.
Ovo Energy, So Energy, and British Gas received the lowest total scores.
A cheap tariff from a supplier might be enticing, but it might not be the best choice if it's offered by a provider with a bad reputation for customer service. The last thing you want is to be stuck with an energy provider that’s slow to deal with complaints or unable to resolve issues promptly and satisfactorily.
See how your supplier fared in our full table of the best and worst energy companies for 2025
How to switch energy provider
You’ll need to gather information before you switch providers. The more details you have, the more likely you will receive an accurate quote. You’ll need your full address, the name of your current supplier and tariff, how much gas and electricity you use, and your payment details. It’s also worth checking whether your current tariff has exit fees.
Visit a price comparison website to view a range of deals. Alternatively, visit an energy company's website to see what prices it offers. You will have to do the price comparisons yourself.
Once you’ve decided to change providers, send both suppliers a meter reading on the day you switch, to ensure that both bill you correctly. The switch should take up to five days. If it takes longer, you're entitled to £30 in compensation.
Read more: how to get the best energy deal
