New study shows green energy tariffs challening 'Big Six' on value

U.K.-based uSwitch has found that half of the 10 cheapest tariffs on the market are termed eco-friendly, thus challenging the big six energy suppliers.

According to uSwitch, a British online and telephone price comparison and switching service, not only are five of the 10 cheapest tariffs on the market termed eco-friendly, but they are also, on average, £267 cheaper than the big six’s – British Gas, EDF Energy, E.ON, Npower, Scottish Power, and SSE – standard tariffs, which are said to be £1,213.

“The cheapest green energy tariff available today comes in at just £859 per year, a whopping £278 cheaper than the average big six plan and £354 less than the average price of a big six standard variable tariff,” it writes in a statement released.

In comparison to last summer, it continues, where 36 green tariffs were offered, there are now 57 available on the market.

“Renewable electricity and bio-gas are now more plentiful and cheaper as green sources make up an ever-increasing proportion of the UK’s energy mix,” says uSwitch, adding, “This has led to competitive pricing and a greater choice of eco-tariffs as more challenger brands seek to differentiate themselves by promoting their environmentally-friendly credentials.”

Due to this, nearly four in 10 households (38% of respondents) would consider switching to a green tariff – up 10% on 2017 – according to research by Opinium, conducted among 2,007 U.K. bill payers this March 9-13.

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