EnergyPlus · May 2026
Cheapest gas and electricity tariff in the UK right now (June 2026)
Two reference points matter for the cheapest UK dual-fuel tariff in May 2026: the April–June 2026 Ofgem default tariff cap (which is what you pay on a standard variable tariff) and the cheapest fixes and trackers in the market right now. The Q3 2026 cap is announced late May and takes effect 1 July, so May is a sensitive window — fixing early can lock in below the current cap, but a falling Q3 cap could undercut a fix in hindsight. This page shows where the cheapest options sit today and how to compare them like-for-like.
Editorial information, not financial advice. Prices and policy can change — always confirm against the supplier and Ofgem.
Cheapest dual-fuel tariff right now — June 2026
On the April–June 2026 cap a typical UK dual-fuel customer pays the cap unit rates plus the daily standing charges for their network region. The cheapest 12-month fixes in May 2026 sit 2–6% below cap on typical use (2,700 kWh electricity + 11,500 kWh gas). No-exit-fee fixes price at or just below cap. Trackers like Octopus Tracker and E.ON Next Pulse beat the cap on most days in May 2026 but pass through daily wholesale moves. The Q3 cap (Jul–Sep) is announced late May and may shift the cheapest pick.
Quick checklist (May 2026):
- Apr–Jun 2026 cap is the maximum on standard variable tariffs.
- Cheapest 12-month dual-fuel fixes sit 2–6% below cap on typical use.
- No-exit-fee fixes are at cap to ~2% below — useful before the Q3 cap announcement.
- Trackers beat the cap most days in May 2026 but carry daily price risk.
- Compare on annual cost (unit rate × kWh + standing charge × 365), not headline rate.
- Last updated
- May 2026
- Reviewed by
- Energy Specialist
- Audience
- UK households & small businesses
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Annual kWh
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Meter type
Single-rate, Economy 7/10, smart, half-hourly all price differently.
Postcode & region
Standing charges and tariff availability vary by network region.
Term & start date
Fixes of 12/18/24/36 months trade certainty for flexibility.
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The cheapest UK dual-fuel gas and electricity tariff in June 2026
A clear, current overview to help you choose with confidence.
Why 'right now' matters in June 2026
Ofgem publishes the next cap (Q3 2026, Jul–Sep) in late May, taking effect 1 July. If the cap rises, a fix taken now locks in saving. If the cap falls, a no-exit-fee fix or staying on the default keeps the door open. Standard fixes with exit fees commit you to the deal regardless of what the cap does next.
Cap vs fix vs tracker
Default (capped) tariffs float with each Ofgem cap. Fixes lock unit rate and standing charge for 12, 18 or 24 months. Trackers like Octopus Tracker and E.ON Next Pulse vary daily based on wholesale — usually sub-cap, but volatile. Trackers need a SMETS2 smart meter.
What's actually cheapest today
On typical UK dual-fuel use (2,700 kWh elec + 11,500 kWh gas) the cheapest 12-month fixes from challenger and Big Six suppliers sit roughly 2–6% below cap. Several no-exit-fee fixes are at or just under cap. Trackers have averaged sub-cap most days in early May 2026 but have daily volatility.
Standing charges still matter
Standing charges are the daily fee for being connected. The April 2026 Ofgem mandate forces every default-tariff supplier to offer a zero-standing-charge electricity variant — but that wins only for very low-use single occupants (under ~1,800–2,200 kWh/year). For typical dual-fuel use, standard tariffs with standing charges are cheaper.
Compare like-for-like
Indicative May 2026 view for a typical UK dual-fuel customer. Run a personalised comparison with the form on this page.
| What to compare | Typical range (May 2026) | Notes |
|---|---|---|
| Default (capped) dual-fuel tariff | Reference baseline | Maximum unit rate + standing charge on the Apr–Jun 2026 cap. |
| 12-month dual-fuel fix (with exit fee) | ~2–6% below cap on typical use | Best annual saving if you'll stay the full 12 months. Exit fees usually £50–£75 per fuel. |
| 12-month no-exit-fee fix | At cap to ~2% below cap | Certainty without lock-in — useful before the Q3 2026 cap announcement. |
| 18 or 24-month fix | 0–4% below cap | Locks rate further into 2027/28. Better fit when wholesale is expected to climb. |
| Tracker (Octopus Tracker, E.ON Next Pulse) | Sub-cap most days in May 2026 | Daily wholesale-linked rate. SMETS2 required. Volatile day-to-day. |
How to pick the cheapest UK dual-fuel tariff right now (June 2026)
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1. Find your annual kWh for both fuels
Use last year's bill or your supplier app — the most recent 12 months of electricity and gas.
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2. Confirm your meter type
Single-rate, Economy 7 or SMETS2 — your meter type limits which tariffs you can switch to.
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3. Compare on annual cost
Annual cost = (unit rate × kWh) + (standing charge × 365), summed for electricity and gas. Add any exit fees you'd incur on a switch.
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4. Decide fix or float
If the Q3 cap looks set to rise, a 12-month fix or no-exit-fee fix protects you. If it looks set to fall, a no-exit-fee fix or staying on the default keeps options open.
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5. Run a whole-of-market comparison
Use the form on this page — it surfaces fixes, trackers and the no-standing-charge variant for your postcode.
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6. Apply and submit opening reads
Switching takes 5 working days. Submit electricity and gas opening reads on day one.
Common pitfalls to avoid
The most frequent issues we see when households and businesses act on what looks like a good deal.
- Picking the lowest headline unit rate without checking standing charge and exit fees.
- Fixing for 24 months purely on today's cap, without considering the next two reviews (Jul and Oct 2026).
- Switching to a tracker without a SMETS2 smart meter — it won't price you correctly.
- Letting a fix end and rolling onto the default — you go straight back to paying cap rates.
- Cancelling a Direct Debit before the switch completes — the final payment to your old supplier must still clear.
Frequently asked questions
What's the cheapest gas and electricity tariff in the UK right now?
In May 2026 the cheapest 12-month dual-fuel fixes sit roughly 2–6% below the April–June 2026 Ofgem default tariff cap on typical use (2,700 kWh electricity and 11,500 kWh gas). The exact cheapest deal varies by postcode (network region) and your annual kWh — use the form on this page to compare for your address.
Should I fix my energy now or wait for the next cap?
The Q3 2026 cap (Jul–Sep) is announced late May and takes effect 1 July. If you expect the cap to rise, fixing now locks in below the rise. If you expect it to fall, a no-exit-fee fix at-or-just-below cap, or staying on the default, both leave the door open.
How much can I save by switching?
On typical use a switch from the default (cap) tariff to the cheapest 12-month fix saves roughly £40–£100 a year, depending on your kWh, postcode and the specific fix. No-exit-fee fixes save less but keep your options open.
What's the difference between a fix and a tracker?
A fix locks your unit rate and standing charge for 12, 18 or 24 months. A tracker (Octopus Tracker, E.ON Next Pulse) updates daily based on wholesale prices. Trackers are typically cheaper on average but carry daily volatility and need a SMETS2 meter.
Do I need a smart meter to switch?
Not for single-rate fixes or the cap-compliant zero-standing-charge variant — both work on legacy meters. You do need a SMETS2 smart meter for trackers and most time-of-use tariffs.
How long does switching energy supplier take?
Five working days under the Faster Switching guarantee. You don't lose supply at any point and there's a 14-day cooling-off period after applying.
Will the cheapest tariff today still be cheapest in three months?
Probably not — the Q3 cap shifts, suppliers refresh fix prices weekly, and trackers move daily with wholesale. A 12-month fix protects you from those moves; the trade-off is missing any cap drop.
Are no-exit-fee fixes a good idea right now?
Yes for many households in May 2026 — they price at cap to ~2% below cap with no penalty for switching again later. They're a sensible default when the next cap announcement is just weeks away.
Trust, methodology and sources
Page governance
- Written by
- EnergyPlus Editorial Team
- Reviewed by
- Energy Specialist
- Last updated
- May 2026
How we keep this page current
We refresh this page each month against the latest Ofgem cap, supplier tariff changes and current scheme guidance. Worked numbers are illustrative; quotes you receive via the comparison form are personalised to your meter and postcode.
Editorial independence: our priority is clarity and like-for-like comparison. Where commercial relationships exist, options are still presented on suitability and the information available at the time.
Reputable UK sources we reference
- Ofgem — energy price cap
- Ofgem — typical domestic consumption values
- Citizens Advice — switching energy supplier
- Energy Saving Trust — energy bills support
If you spot anything that looks out of date (a rule change, a new scheme), please contact EnergyPlus so we can review and update this page.
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