Cheapest electricity tariff in the UK with a smart meter

Compare smart meter electricity tariffs (whole of market)

Use the quote form to see estimated monthly cost for smart-compatible tariffs for your home. We will show options based on your postcode, meter type and payment preference — and flag key features like fixed vs variable, exit fees and time-of-use windows, all benchmarked against the new July 2026 cap.

What we will ask (and why)

Postcode

Determines your electricity region and which tariffs are available.

Contact details

So we can send your quote and help if you want to switch. You are in control.

Optional: phone

Useful if you would like a quick call-back to confirm smart meter compatibility and tariff terms.

Get your smart tariff quote

Smart meter compatibility checks

• SMETS2: generally works across suppliers.
• SMETS1: may work in smart mode, but not always; functionality can vary after switching.
• Signal/connectivity: some areas have weaker comms; you may still be billed accurately but without frequent smart reads.

Contract terms to read before switching

• Exit fees: common on fixed deals.
• Price changes: variable tariffs can change; fixed tariffs can end and move to a different rate.
• Time bands: for time-of-use, check exact hours, weekends and seasonal changes.

Scenario A: Flat user (no EV, mostly evening use)

• Annual usage: 2,700 kWh
• Usage timing: 75% peak, 25% off-peak
• Illustrative single-rate (at the July 2026 cap): 26.11p/kWh, standing charge 57.19p/day
• Illustrative time-of-use tariff: peak 35p/kWh, off-peak 12p/kWh, standing charge 60p/day

In this pattern, time-of-use is likely worse because a lot of usage falls into the higher peak rate — the capped single-rate deal wins.

Scenario B: EV driver (regular overnight charging)

• Annual usage: 4,200 kWh
• Usage timing: 40% peak, 60% off-peak
• Same illustrative rates as above (single-rate at the July 2026 cap)

With lots of off-peak use (like EV charging), time-of-use can beat the capped single rate even when peak rates are higher.

Decision checklist: likely to suit you

• You can shift at least 25–40% of usage to off-peak (EV charging, timers, storage heat).
• You are happy to plan around time bands (and understand peak prices).
• You have a working smart meter (ideally SMETS2) with reliable readings.
• You are comparing based on estimated annual cost vs the £1,862 cap, not just one rate.

Decision checklist: may not suit you

• Most usage is 4pm–10pm and you cannot move it.
• You need a simple bill and predictable pricing.
• Your property has connectivity issues and you rely on smart features (like half-hourly reads) for the tariff.
• You are on (or need) a tariff type that requires specific metering (for example legacy restricted-hour setups) and your supplier has limited support.

1) Standing charge changes the maths

If you are a low user (small flat, out most days), a higher standing charge (around 57.19p/day from July 2026) can wipe out savings from a lower unit rate.

2) Peak rates can be much higher

Time-of-use tariffs can be excellent — but only if you avoid peak. Check the peak unit rate (often well above the 26.11p/kWh capped rate) and the exact hours.

3) Smart meter communication is not guaranteed

Some households have patchy signal to the national network. If your tariff relies on half-hourly reads, confirm what happens if smart reads fail.

Exit fees and switching timing

• Fixed tariffs may include exit fees — check before switching early.
• Some deals have introductory periods. Look at what rate applies afterwards.
• Make sure you are comparing like-for-like (electricity-only vs dual fuel).

Eligibility and meter quirks

• Some tariffs require half-hourly settlement or specific smart settings.
• Legacy multi-rate setups can limit options; confirm compatibility before switching.
• Smart prepay customers may face fewer choices, depending on supplier policies.

Cheapest vs best value

• A slightly higher price may be worth it for better customer service or fewer surprises.
• Consider budgeting: variable/tracker pricing can move up and down with the cap.
• Check billing options, app controls, and whether you can see usage by half hour.

Do smart meters make electricity cheaper?

Not automatically. Smart meters can enable tariffs (like time-of-use) that may be cheaper if you use more electricity at off-peak times. If you mainly use electricity at peak times, a smart tariff can cost more.

Can a smart tariff beat the July 2026 price cap?

It can. From 1 July 2026 the Ofgem cap rises 13% to £1,862 a year for a typical dual-fuel home, with capped electricity at 26.11p/kWh plus a 57.19p/day standing charge. Smart meters unlock time-of-use tariffs with cheap off-peak windows; if you can shift enough usage (EV charging, storage heat, appliances) to off-peak, your effective cost can fall below the capped rate. If most of your use is at peak, a smart tariff can cost more than the cap.

Will my smart meter still work if I switch supplier?

In most cases, yes — especially for SMETS2 meters. Some SMETS1 meters may lose smart functions with certain suppliers, though many have been migrated to work across the network. If smart features matter for your tariff, confirm before switching.

What does cheapest actually mean in energy comparisons?

It should mean the lowest estimated total cost for your usage over a set period (often 12 months), including standing charges and any discounts — not just the lowest unit rate.

Are smart tariffs available on prepayment meters?

Some suppliers offer smart prepayment tariffs, but choice can be more limited and prices vary. If you are repaying debt via the meter, switching can be restricted. Always check eligibility and what happens to any debt arrangement.

Do I have to share half-hourly data to get a smart tariff?

Some smart tariffs require more frequent readings (such as half-hourly data) to bill you correctly for time bands. You should be told what data is needed as part of the tariff terms. If you prefer not to share it, a standard single-rate tariff may be a simpler fit.

Can I switch if my smart meter is not sending readings?

Usually yes, but the supplier may estimate bills until the issue is fixed. If you are choosing a tariff that relies on smart readings (especially time-of-use), check the supplier policy if readings fail.

Is the Ofgem price cap the same as the cheapest tariff?

No. The Ofgem cap (£1,862 a year for a typical home from 1 July 2026) limits the maximum charges on standard variable and default tariffs. Fixed and smart time-of-use tariffs can be below or above the cap depending on structure and your usage timing.

Editorial details

• Written by: EnergyPlus Editorial Team
• Reviewed by: Energy Specialist
• Last updated: June 2026

How we assess cheapest (our approach)

We treat cheapest electricity tariff with a smart meter as the tariff that produces the lowest estimated total cost for a specific household profile, benchmarked against the prevailing Ofgem cap (£1,862/year from 1 July 2026), based on:

• Postcode/region: because standing charges and unit rates vary across GB regions.
• Payment method: direct debit vs prepayment can affect availability and pricing.
• Tariff structure: single-rate vs time-of-use vs tracker/market-linked.
• Usage assumptions: the user stated (or estimated) annual kWh and, for time-of-use, an assumed split of peak/off-peak usage.
• Fees and terms: exit fees, end-of-fix changes, and any eligibility criteria stated in tariff terms.