Eon has become the latest energy firm to hike prices for new customers.

It has today pulled what was the top standard tariff among the major suppliers. Its SaveOnline 3 deal, which cost a typical £894 a year, has now gone, as predicted on MSE News last week.

The tariff has been replaced with SaveOnline 4, which costs £955 a year, based on the industry-defined average consumption – a £61 annual hike.

It is the latest in a long line of best-buy deals for new customers that have been axed over recent months (see the Cheap Gas & Electricity guide).

Npower pulled what was then the top standard deal from the big six energy firms last week.

Price comparison site uSwitch.com says consumers looking to move supplier should not waste any time as prices could rise further.

The cost of energy is rising due to increases in the price energy firms pay for their power on the wholesale markets.

New customers have largely felt the force of the hikes, though EDF raised prices by 2.6% for 1.2 million of its customers at the start of the month.

The best standard deal, based on average consumption, is First:Utility's iSave V5, which costs a typical £883 a year, according to comparison site Energyhelpline.com.

However, the site says consumers can opt for EDF's OnlineSaver7 deal which costs a typical £867 a year which includes a £100 cashback bonus.

Slash costs

If you've never switched tariff before, you could save hundreds of pounds per year. Those on a standard tariff typically pay around £240 a year more than those on the cheapest online deals.

To find the best tariff, compare the options available via a comparison site (see the Cheap Gas & Electricity guide and Should I fix? MSE News story).

The cheapest deals are available to those who get bills by email and pay by direct debit.

When switching, remember that when you see a tariff described as cheapest, it is only best value as a nationwide average.

The energy market is complicated so determining which is the cheapest provider for you depends on where you live and how much power you use.

This is why a comparison, based on your circumstances, is key.

Further reading/Key links

Slash energy costs: Cheap Gas & Electricity
Your rights: Fight Energy Direct Debits
Capped tariff help: Is Your Cap/Fix Ending Soon?
Boiler protection: Boiler Cover