UK comparison and switching service Uswitch has encouraged people to “stop overpaying for your energy”, highlighting that they could undercut the price cap by nearly 10%, based on average use. Ofgem confirmed the price cap for an average household using gas and electricity, and paying by Direct Debit, would increase from £1,568 to £1,717 from the start of this month.

In a new email to subscribers, Uswitch urged people to “protect against high rates this winter” as it shared several cheaper fixed deals. The best of these, provided by British Gas, is £162 less than the cap, with Uswitch warning: “You’re paying more right now by not taking action”.

The Fixed Tariff v5 plan from British Gas has an average annual cost for typical use at £1,555. Uswitch also spotlighted a similar deal with EDF, whose Essentials Fixed 1Yr Oct25v3 tariff is priced at £1,563 for typical use.

Additionally, OVO Energy’s 1 Year Fixed 03 October 2024 tariff is priced at £1,589 for typical use. Both the British Gas and OVO deals carry an early exit fee of £50 per fuel, while the EDF early exit fee is £25 per fuel. All the mentioned tariffs are fixed for a year.

Energy rates are forecast to remain high until April 2025, with EDF predicting the price cap will be set at £1,721 per year from January 1 until March 31, 2025 – a £4 increase on the current level. Meanwhile, experts at Cornwall Insight anticipate the cap will decrease by 1% to £1,697 in January.

People are reminded that fixed energy tariffs cap the unit rate and standing charge, but do not limit the overall bill. Uswitch clarifies: “Actual bill size will vary depending on your individual household consumption.”