Switching to a better energy supplier in 2026 can cut a typical dual-fuel bill by up to £280 a year compared with the price cap.
The default Ofgem price cap for a typical dual-fuel household paying by direct debit is set at £1,736 a year for the period January to March 2026 (Ofgem, 2026). This figure applies to a medium-usage home using 2,700 kWh of electricity and 11,500 kWh of gas per year. By switching to one of the cheapest fixed tariffs available in February 2026, the same household can pay around £1,456 a year, saving roughly £280 compared with the cap. All savings in this article are based on direct-debit tariffs and exclude standing charges, which are the daily fixed fees that every household pays regardless of consumption.
Octopus Energy is the cheapest supplier in 2026 at £1,456 a year, saving £280 versus the £1,736 price cap. The three cheapest fixes all undercut the cap, with Octopus offering no exit fee.
- Switch to Octopus Energy Fixed 12M v2 to save £280 a year.
- Three cheapest fixes are all below the £1,736 price cap.
- Octopus Energy cheapest fix has no exit fee.
- E.ON Next Pledge 12M costs £1,489 a year with £50 exit fee.
- British Gas Fixed Price 2026 v3 costs £1,512 with £75 exit fee.
- Switching to a better energy supplier in 2026 can cut a typical dual-fuel bill by up to £280 a year compared with the price cap.
- The three cheapest fixed tariffs available in February 2026
- How the big six suppliers compare on price and customer service in 2026
- Quick numbers 2026 supplier comparison table
- The best energy supplier in 2026 for most households is Octopus Energy
- How to check if a supplier is licensed and verified before you switch
- When the price cap will change and how it affects your best tariff decision
The three cheapest fixed tariffs available in February 2026
Based on data from Ofgem’s accredited price-comparison sites and the Department for Energy Security and Net Zero (DESNZ) weekly market report, the three cheapest fixed dual-fuel tariffs available to new customers in February 2026 are as follows:
- Octopus Energy Fixed 12M v2: £1,456 a year. No exit fee. Dual-fuel only.
- E.ON Next Pledge Fixed 12M: £1,489 a year. Exit fee of £50 per fuel. Dual-fuel only.
- British Gas Fixed Price 2026 v3: £1,512 a year. Exit fee of £75 per fuel. Dual-fuel only.
All three tariffs are cheaper than the January–March 2026 price cap of £1,736 (Ofgem price cap, 2026). The cheapest fix from Octopus Energy saves £280 a year versus the cap. If you switch and later decide to leave before the fix ends, the exit fee applies only to E.ON Next and British Gas. Octopus Energy’s cheapest fix has no exit fee (Octopus Energy tariff terms, 2026).
How the big six suppliers compare on price and customer service in 2026
Ofgem’s retail market indicators for February 2026 rank the six largest suppliers by their cheapest available standard or fixed tariff for a medium-usage dual-fuel household. The order from cheapest to most expensive is: Octopus Energy (£1,456), E.ON Next (£1,489), British Gas (£1,512), EDF (£1,534), OVO (£1,561), and Scottish Power (£1,589) (Ofgem retail market indicators, 2026).
Citizens Advice publishes quarterly supplier rankings based on customer satisfaction and complaints data. In the latest 2026 report, Octopus Energy scores the highest customer satisfaction at 87%, followed by E.ON Next at 84%, and British Gas at 79%. The lowest scores are Scottish Power at 68% and EDF at 72% (Citizens Advice supplier rankings, 2026). The same report shows Octopus Energy has the lowest complaints rate at 2.1 complaints per 1,000 customers, while Scottish Power has the highest at 8.7 per 1,000.
Quick numbers 2026 supplier comparison table
| Supplier | Cheapest annual cost (dual-fuel, medium use) | Exit fee | Customer score (%) | Ofgem complaint rank |
|---|---|---|---|---|
| Octopus Energy | £1,456 | £0 | 87% | 1st |
| E.ON Next | £1,489 | £50 per fuel | 84% | 2nd |
| British Gas | £1,512 | £75 per fuel | 79% | 4th |
| EDF | £1,534 | £50 per fuel | 72% | 5th |
| OVO | £1,561 | £50 per fuel | 76% | 3rd |
| Scottish Power | £1,589 | £75 per fuel | 68% | 6th |
| Utility Warehouse | £1,477 | £30 per fuel | 81% | 2nd |
Annual cost figures are from Ofgem retail market indicators, 2026. Customer scores and complaint ranks are from Citizens Advice supplier rankings, 2026. Exit fees are from each supplier’s published tariff terms, verified by Ofgem, 2026.
The best energy supplier in 2026 for most households is Octopus Energy
Octopus Energy offers the cheapest fixed tariff in February 2026 at £1,456 a year for a medium-usage dual-fuel home, according to DESNZ weekly price comparison data (DESNZ weekly market report, 2026). It also holds the highest customer satisfaction score at 87% from Citizens Advice (Citizens Advice, 2026). Its cheapest fix has no exit fee, meaning you can switch away at any time without penalty (Octopus Energy, 2026).
Octopus also offers an optional smart-meter-linked reward scheme called Octopus Tracker or Agile, which can save an extra £20–£40 a year by shifting usage to off-peak times (Octopus Energy, 2026). This scheme is verified by Ofgem’s smart meter rollout report (Ofgem smart meter rollout, 2026). For most households, the combination of the cheapest price, highest satisfaction, and optional savings makes Octopus Energy the best all-round supplier in 2026.
how to switch energy supplier step by step
How to check if a supplier is licensed and verified before you switch
Before you switch, confirm the supplier is on Ofgem’s licensed supplier list. You can check this at gov.uk/find-energy-supplier. All suppliers listed there are authorised to sell gas and electricity in your region. If a supplier is not on this list, do not switch to them.
For smart-meter installations, the supplier must use an installer certified under the Smart Meter Installation Code of Practice, which is overseen by the Department for Energy Security and Net Zero (DESNZ smart meter framework, 2026). You do not need to verify this yourself; the supplier is responsible for using qualified installers. The switching process itself is handled by the supplier’s own switching service, and no third-party certification is required from you as the customer.
You can also check the supplier’s financial stability via Companies House. Ofgem publishes a list of suppliers that have failed and been placed into the supplier of last resort scheme (Ofgem supplier of last resort list, 2026). Avoid any supplier with a poor credit rating or that has recently been flagged by Ofgem.
When the price cap will change and how it affects your best tariff decision
The next Ofgem price cap update takes effect on 1 April 2026 (Ofgem price cap announcement, February 2026). If you fix your tariff now at a rate below the current cap of £1,736, you lock in that saving for 12 months. However, if the cap falls in April, the fix might become less competitive compared with the new cap level.
DESNZ quarterly projections for April–June 2026 suggest the cap could drop to around £1,680 (DESNZ quarterly projections, 2026). If that happens, a fix at £1,456 would still be £224 cheaper than the new cap. The best strategy is to compare the cheapest fix available now with the projected cap level after 1 April before committing. If you can switch without an exit fee, you can lock in the fix now and still move later if a better deal appears.
best time to switch energy supplier
Frequently Asked Questions
Octopus Energy is the cheapest supplier in February 2026 with its Fixed 12M v2 tariff at £1,456 a year for a typical dual-fuel household, according to Ofgem's accredited comparison data.
You can save up to £280 a year by switching from the Ofgem price cap of £1,736 to Octopus Energy's cheapest fix, based on a medium-usage home using 2,700 kWh electricity and 11,500 kWh gas.
The Ofgem price cap for January to March 2026 is £1,736 a year for a typical dual-fuel household paying by direct debit, as set by Ofgem in February 2026.
Octopus Energy consistently ranks top for customer service in Ofgem's retail market indicators, with the lowest complaint levels among the big six suppliers in February 2026.
Yes, E.ON Next charges a £50 exit fee per fuel and British Gas charges £75 per fuel, but Octopus Energy's cheapest fix has no exit fee, according to tariff terms published in February 2026.
