The average UK household on a standard variable tariff in April 2026 pays close to the Ofgem price cap: 24.5p/kWh for electricity and 6.24p/kWh for gas. Fixed deals are returning to the market at competitive rates. Understanding the rate landscape — not just headline figures — is how you know when and whether to switch.
April 2026 Rate Landscape
Ofgem Q2 2026 price cap equates to approximately £1,849/year for a typical household (11,500 kWh gas, 2,700 kWh electricity). Comparison data shows:
- Standard variable tariffs: At or near cap rate. No exit fees. Switch anytime.
- 1-year fixed tariffs: Currently 3-6% below cap from Octopus, E.ON Next, EDF. Exit fees £25-£50 per fuel.
- 2-year fixed tariffs: Available at smaller discounts — greater market uncertainty beyond 2026 narrows the gap.
- Standing charges: Electricity 61p/day, gas 31p/day under current cap. Some tariffs undercut these.
How Long Does Switching Actually Take?
Industry standard: 5 working days. Process breakdown:
- Day 1: Apply online to new supplier — 8-12 minutes
- Days 1-3: 14-day cooling-off period — cancel anytime, no penalty
- Day 5: Switch proceeds automatically if not cancelled
- Switch date: Submit meter readings to both old and new supplier
- Within 6 weeks: Final bill from old supplier — verify against your submitted reading
Your supply is never interrupted. The same infrastructure delivers your energy regardless of supplier.
Exit Fee Calculation: Is It Worth Switching Early?
The maths: if you have 12 months left on a tariff costing £200/year more than the best available deal, you would save £100 net even after paying £100 in exit fees. With 6 months left and £80/year potential saving, the £40 saving does not justify £100 exit fees — wait it out.
Ofgem-Accredited Comparison Tools
- Uswitch
- MoneySuperMarket
- Compare the Market
- Go.Compare
Enter your actual annual kWh usage from your bill — not just your postcode. Default typical consumption figures frequently produce misleading cost comparisons.
Ready to cut your energy costs? Compare deals today and see how much you could save.
