Extra Energy Tariff Prices: Gas and Electricity
What happened to Extra Energy?Extra Energy ceased trading in November 2018. Scottish Power has been tasked by Ofgem to supply Extra Energy's existing customers. If you have been affected, you can either choose to stay with Scottish Power or switch energy supplier.
Extra Energy built a reputation based on low energy costs, reaching a peak of around 200,000 customers during its short history. However, in November 2018 it ceased trading and its customers were moved over to Scottish Power. Should former Extra Energy customers stick with their new supplier or switch to another? Read our Extra Energy tariffs guide to decide for yourself.
What happens when my Extra Energy tariff comes to an end?Customers on Extra Energy tariffs are automatically placed on Scottish Power’s standard variable tariff if they don’t take any action once their current plan comes to an end. As these are often the most expensive tariffs a provider has to offer, we recommend either signing up to a new tariff or switching provider as soon as your current tariff ends.
What types of Extra Energy tariffs were available?
Extra Energy limited its tariffs to three similar fixed-term options with monthly or quarterly payment options. The supplier offered electricity only or dual fuel plans, so customers were unable to sign up to gas-only tariffs.
What is a fixed tariff?
As opposed to variable tariffs, where providers can change the energy unit rate according to the market, fixed-rate tariffs give you a locked-in price for the duration of your contract, even as the wholesale cost of gas and electricity fluctuates.
Fixed tariffs certainly have their benefits, as you’ll never pay over the odds if you’re happy with the starting price. However, it’s always worth keeping in mind that wholesale costs can fall as well as rise, so there is still a small chance you could actually end up paying more than on a variable tariff.
As costs are determined by a number of different factors, such as where you live and your energy consumption, it’s difficult to give an exact price for Extra Energy tariffs.
To give a rough idea of how much you could have been paying with Extra Energy, we’ve listed the unit rate and standing charge for a home in the south of England.
Extra Energy had three separate fixed tariffs: Jewel, Bright and Clear. The service provided on each of these plans was almost identical, with the only difference being the contract length and price.
Jewel Fixed Price 1 Year
- Electricity unit rate: 13.157p per kWh
- Electricity standing charge: 28.88p per day
- Gas unit rate: 3.255p per kWh
- Gas standing charge: 16.80p per day
Bright Fixed Price 2 Year
- Electricity unit rate: 16.609p per kWh
- Electricity standing charge: 19.95p per day
- Gas unit rate: 3.842p per kWh
- Gas standing charge: 13.65p per day
Clear Fixed Price 3 Year
- Electricity unit rate: 14.070p per kWh
- Electricity standing charge: 28.35p per day
- Gas unit rate: 3.192p per kWh
- Gas standing charge: 22.05p per day
Next, let’s work out the average annual spend to get a clearer idea of just how much customers were paying.
We have based our annual costs on a medium-sized home in the south of England with an average energy consumption. Our comparison test also includes the standard variable Scottish Power tariff as an example of what it could end up costing Extra Energy customers once their contract comes to an end.
Of course, your own personal situation may be different, so to get a more complete picture we recommend speaking to an energy expert to see how much you could potentially save. Give us a call today for free on 0203 936 0059 to find out how much you should be paying for your energy.
What’s the average consumption?While energy consumption is determined by a number of different factors, it’s widely accepted that the average energy usage for a medium-sized home of three in the UK is 3,100kWh for electricity and 12,000kWh for gas. Use our handy energy usage calculator to see how your household compares!
|Tariff||Electricity only||Dual Fuel|
|Jewel Fixed Price 1 Year||£538.94||£1,013.46|
|Bright Fixed Price 2 Year||£617.07||£1,153.11|
|Clear Fixed Price 3 Year||£566.63||£1,053.33|
|Scottish Power Standard Variable Tariff||£663.88||£1,223.52|
*Information correct as of May 2020. All quotes are fixed tariffs paid monthly by Direct Debit and based on comparison for a three-bedroom house in London with an average annual electricity consumption of 3,100kWh and gas usage of 12,000kWh.
To see how Extra Energy tariffs fared against the competition, we used Ofgem’s energy price cap as a means to determine the upper limit customers should expect to pay for their gas and electricity.
In our above tests, Extra Energy’s cheapest prices on its Jewel tariff came in £108.67 lower than the current price cap of £1,162.
Based on this, Extra Energy was one of the most affordable gas and electricity providers out there, though not the cheapest.
Meanwhile, customers on Extra Energy tariffs who stick with Scottish Power once their contract comes to an end are likely to lose out by paying far more for their energy.
Although staying with a larger provider can often come with its benefits, such as being included in the £140 Warm Home Discount scheme, many could save a lot more than that just by switching supplier.
Extra Energy tariffs were extremely competitive and among the cheapest on the market, which unfortunately can’t be said of the supplier that took on its customers following its collapse in 2018.
While Extra Energy was known for its reasonable prices and customer service, Scottish Power has got itself something of a reputation in recent years for being one of the most expensive gas and electricity providers in the UK.
Unsurprisingly then, customers who have found themselves with Scottish Power are likely to see steep increases if they stay with this supplier once their current Extra Energy tariffs come to an end.
For this reason, we recommend former Extra Energy customers shop around to find another, cheaper provider. Find out which supplier suits you by giving Selectra a free call on 0203 936 0059 and start saving today.