Cheapest energy deal in 10 months launches – but it's from a brand new supplier
New supplier Green has launched the cheapest energy deal in 10 months.
For a typical household on gas and electric, Green's 'Oak' tariff costs £867/year on average. That makes it nearly £390/yr cheaper than a big six standard variable tariff – currently £1,254/yr – and it beats the next cheapest energy deal on the market by £6/yr on average for a typical user.
The tariff, which launched yesterday, is variable – meaning the rates could change at any time, though you'll get at least 30 days' notice and there are no exit fees if you switch away. What's more, as you'd expect from a supplier named Green, 100% of its electricity is renewable (though none of its gas is renewable or carbon-offset).
However, Green only launched at the beginning of June, so we've no feedback on its customer service yet.
Use our Cheap Energy Club to see how Green stacks up for you. Alternatively, use our big name comparison to find the best deals from the largest players, and our good service comparison for deals from providers you've told us do well for customer service.
Is it safe to go with a new supplier?
Yes it is. When you switch supplier, it's the same gas, same electricity and same safety – no matter which firm you switch to – the only things that change are price and service. While more established firms may have a record of good service, it's harder to assess the service of newer companies.
If the worst were to happen, and your supplier runs into trouble, you're protected under energy regulator Ofgem's 'safety net' rules. This means your gas and electricity supply will continue and you'll get back any money you're owed, whether you're still with the supplier or not.