Compare the Market switches off energy comparison tool due to lack of cheap deals

Soaring prices have led some gas and electricity suppliers to pull their tariffs from comparison websites in the past week.

Just three small energy companies are currently offering deals on GoCompare, with Compare the Market pausing its service altogether.

A spokesman said: ‘We’ll resume energy comparison as soon as we can be confident we can offer true comparison for customers.’

Jane Lucy, of switching site Labrador, said: “These suppliers may not return to the market for months. We will now be instructing customers not to switch.”

The lack of deals is down to a surge in demand for gas and electricity which has seen energy prices surge to 11 times above normal levels in the past fortnight.

© Getty Images Energy prices have hit a record high

In a big to keep up with demand, the UK was forced to fire up two old coal power plants to help guarantee electricity supplies this week.

The surge in wholesale costs has also put pressure on some small energy suppliers.

People’s Energy and Utility Point, which had more than 500,000 customers between them – stopped trading on Tuesday. In total, five suppliers have collapsed since August 1.

Are you having an issue with your energy provider? Get in touch:

In a catch 22 for customers, households are being urged to switch to avoid falling victim to these rising wholesale costs.

Ofgem is increasing its price cap for standard tariff and other default deals by £139 a year from October 1.

The typical gas and electricity customer is likely to see their bill go up by £139 to £1,277 a year from next month.

The price cap limits the amount that companies can charge customers on standard variable tariffs.

Households have also been warned the cap could rise by an extra £280 next year to mark the 60% uplift in wholesale prices.

Joe Malinowski, of TheEnergy-, said wholesale gas prices have risen 68 per cent in the past five weeks, while costs are up an estimated 324 per cent on this time last year.

“He said data from Germany shows wholesale electricity prices have risen 66 per cent, and are up 174 per cent year on year.

Are energy prices out of control? Let us know your thoughts in the comments below

Mr Malinowski added: ‘The simple maths implies that, as things stand, the next level of the cap will increase by around £275-£280. This would take the energy price cap, when it is next reviewed, and increased, on April 1, 2022, to around the £1,555 mark.

“To put that into context, price-protected standard tariffs would be 50 per cent higher than they were two years prior.”

If you’re shopping around, MoneySavingExpert has a cheap energy club that can help households find better rates. Which? and uSwitch also both have a number of suppliers still on their comparison tool.

Why do I need a cheaper deal?

When any fixed term energy deal ends you will automatically revert to your energy supplier’s standard tariff, which is the most expensive kind on the market and the price plans hit by the energy price cap.

If you haven’t switched in a while, it’s likely you’re paying the standard rate and that you could make a substantial saving by ditching your supplier, hence why you should shop around for a fixed plan.

With prices at a record high right now, you might want to consider a tariff with no exit fees, should you want to leave further on if prices fall in the future.

Remember, while it’s an option to speak to your existing provider about a cheaper deal, there might be an even bigger saving elsewhere.

Regulator, Ofgem estimates the typical household will save around £280 by switching.

See our guide on how to switch and save on your energy bill, here.

Internet Explorer Channel Network
News Related


Productivity in construction sector remains below UK average

As the coronavirus pandemic wreaked havoc on the UK economy last year, the ONS said productivity in the construction industry was volatile thanks to lockdowns and restrictions. Photo: Christopher Furlong/Getty ... Read more »

Fifth Oxford shooting suspect arrested

Oct. 19—OXFORD — The fifth suspect wanted in connection with an Oct. 12 shooting where more than two dozen shots rang out in east Oxford was taken into custody on ... Read more »

Three charged with murder of Alabama teen playing in bedroom

TUSCALOOSA, Ala. (AP) — Police have charged a third person with capital murder in the killing of a 13-year-old boy who was hit by a bullet that entered his bedroom ... Read more »

Queen turns down Oldie award saying ‘you are only as old as you feel'

Cheers! The Queen has kept a packed schedule recently, entertaining world leaders, undertaking public engagements and mastering the very modern art of the video call – Shutterstock The Queen has ... Read more »

Net zero: what is it and why does it matter?

The UK has a target to reach net zero emissions by 2050 and the Government has set out its strategy for how it aims to get there. But what is ... Read more »

2021-22 Nets preview: Predictions, games to watch

The Nets will begin a season of high expectations without Kyrie Irving Tuesday night as they open in Milwaukee. Here are three bold predictions and five games to watch as ... Read more »

Florida teenager fatally shot by police while pointing rifle at passing cars

A 17-year-old Florida boy was shot and killed by police after he turned what witnesses called a “military-style rifle” on officers. © Provided by New York Daily News A teen ... Read more »

Colin Powell believed in leadership — and he was a smart, popular leader

Maj. Gen. Colin Powell was Caspar Weinberger’s recently appointed military assistant when I met him in the fall of 1983. He had succeeded Maj. Gen. Carl Smith as Secretary of ... Read more »

Haas: Self-critical Schumacher has right attitude

© Jerry Andre / Motorsport Images Mick Schumacher, Haas F1 Schumacher earned plaudits for grabbing a spot in Q2 at the recent Turkish Grand Prix, the first time that a ... Read more »

13 Running Tips for Beginners or Anyone Getting Back Into a Cardio Routine

© Provided by Shape Catherine Falls Commercial/Getty Maybe you want to hit your stride for the first time ever, or you took a long break from running because of say, ... Read more »

Very Group celebrates record revenue as it eyes listing

© Provided by City AM Online retailer Very Group has announced record revenue in its full year results, ahead of an anticipated £4bn float. The owner of fashion brands ... Read more »

Little Amal: Jude Law welcomes huge Syrian refugee puppet to UK

© PA Little Amal puppet walk Jude Law welcomed a giant puppet of a 9-year-old Syrian refugee as it arrived on the coast of Kent on Tuesday morning. The actor ... Read more »

Lorry drivers fall by 53,000 in four years: ONS figures show 17% drop

© Provided by Daily Mail MailOnline logo The number of lorry drivers in Britain has plunged by 53,000 over the past four years with the fall the largest among middle-aged ... Read more »

Father whose twins were drowned by mother tells of joy at new son

© Provided by Daily Mail MailOnline logo A father whose 23-month-old twins were killed by their mother has revealed his joy after his new partner gave birth to a baby ... Read more »

Boris Johnson poses for eco-friendly pictures with donor who lends him private jet

Boris Johnson posed for eco-friendly photos with a megabucks donor who frequently lends him his private jet. The Prime Minister stood for snaps yesterday morning in front of a hydrogen-powered ... Read more »

Kerala floods: Indian couple sail to their wedding in giant cooking pot

Footage shared on social media showed the pair in the metal vessel, accompanied by two men wading through a flooded street, along with a photographer. Read more »

'Like he was facing the bowling machine': Butt lauds IND batter's show against ENG, says 'don't disturb opening' combo

© Provided by Hindustan Times ‘Like he was facing the bowling machine’: Salman Butt lauds IND batter’s show against ENG, says ‘don’t disturb opening’ combo (AP) Virat Kohli-led India had ... Read more »

Boris Johnson hints at tax cuts before next general election

© Provided by Daily Mail MailOnline logo Boris Johnson has suggested there will be tax cuts before the next general election as he piled the pressure on Rishi Sunak ahead ... Read more »

UK's net-zero strategy will 'support' 440,000 jobs by 2030, says Boris Johnson

© Provided by City AM The UK’s newly unveiled strategy to reach net-zero carbon emissions by 2050 will create 440,000 new jobs over the next decade, according to Boris Johnson. ... Read more »

Thunderstorm warning issued across England and Wales with disruptions likely for some

A yellow weather warning has been issued for Wednesday, as thunderstorms, heavy rain and strong winds may cause disruption across England and Wales. © Getty Images Wales and areas of ... Read more »

What are Behind the Scenes collectibles in Assassin's Creed Valhalla Discovery Tour: Viking Age?

© Provided by GamePur Discovery Tour: Viking Age is a combat-free experience that uses the same game engine as Assassin’s Creed Valhalla to allow you to explore the game’s world, ... Read more »

Thomas Markle wants daughter Meghan to 'grow up' and end feud

© Bang Showbiz Thomas Markle Meghan, Duchess of Sussex, has been told to “grow up” by her father. The former ‘Suits’ actress hasn’t spoken to her dad Thomas Markle since ... Read more »

Natalie Anderson joins Hollyoaks

© Bang Showbiz Natalie Anderson as Lexi Natalie Anderson has joined ‘Hollyoaks’. The former ‘Emmerdale’ star – who played Alicia Metclafe in the ITV soap from 2010 to 2015 – ... Read more »

Mastermind presenter Clive Myrie received racist hate mail

© Bang Showbiz Clive Myrie Clive Myrie received racist and abusive hate mail when he was a BBC newsreader. The 57-year-old – who replaced John Humphrys in the famous chair ... Read more »

'Sardar Udham' is not the biopic of a person, it is the biopic of an ideology: Vicky Kaushal

© Provided by Khaleej Times ‘Sardar Udham’ is not the biopic of a person, it is the biopic of an ideology: Vicky Kaushal In 2018’s Raazi he famously played a ... Read more »

Aaron Carter makes pleas deal in DUI case

© Bang Showbiz Aaron Carter Aaron Carter has escaped jail after reaching a plea deal in his 2017 DUI case. The ‘Crazy Little Party Girl’ hitmaker was stopped by police ... Read more »

How to destroy the Corruption Cluster and all Corruption Fragments in Fortnite Chapter 2 Season 8

© Provided by GamePur Chapter 2 Season 8 of Fortnite brings us more new punchcards and challenges. Dark Jonsey, who can be found wandering around the purple pool in Steamy ... Read more »

How to get the King Slime Crown in Final Fantasy XIV Online – Breaking Brick Mountains 2021

© Provided by GamePur The Final Fantasy XIV Online collaboration with Dragon Quest X returns for 2021. From October 19 to November 11, players will be able to complete several ... Read more »

I didn't know my son, 16, was going to be a dad but I'm helping him raise the baby – it's emotional & overwhelming

ONE proud mum is praising her son for his bravery and responsibility, as he takes on the role of single dad at age 16. Explaining how the teenager has full ... Read more »

Coronation Street viewers complain soap has ‘ripped off Line of Duty' with explosive car crash stunt

CORONATION Street fans have suggested scriptwriters have been “watching too much Line Of Duty” after Harvey Gaskell smashed a prison van into Dev Alahan's car. The dramatic Corrie scenes, aired ... Read more »

More support for electric cars and tree planting as net zero strategy published

New investment for electric car grants, on-street charging points and planting trees has been announced as the Government sets out its plans to reach net zero emissions by 2050. The ... Read more »

Queen praises UK's move to a sustainable future but says there is more to do

The Queen has said she is “proud” of how the UK is moving towards a sustainable future but “there is still much more to do”. The head of state also ... Read more »

Inside Salt of Palmar hotel, ranked No.1 on Tripadvisor in Mauritius

© Provided by Daily Mail MailOnline logo It’s fair to say that Salt of Palmar isn’t your typical Mauritian hotel. While many of its neighbouring hotels on Mauritius’ stunning east ... Read more »

Greece vows to link Egypt's energy grid to European Union

1 / 7Greece Cyprus EgyptEgypt’s President Abdel Fattah al-Sisi makes statements during a joint news briefing with Greece’s Prime Minister Kyriakos MItsotakis and Cyprus’ President Nicos Anastasiades, not pictured, in ... Read more »

Strictly Come Dancing Week 5 Songs And Dances Revealed

(Photo: BBC/Guy Levy) Strictly Come Dancing bosses have released the full list of songs and dances fans can expect to see on this Saturday’s live show. The 11 remaining couples ... Read more »

One does not feel old, says 95-year-old Queen Elizabeth

FILE PHOTO: Britain’s Queen Elizabeth walks amongst spring blossom and flowers as she arrives to attend the unveiling of the Windsor Greys statue in Windsor LONDON (Reuters) – Britain's 95-year-old ... Read more »

Soccer-Bayern Munich's Goretzka, Davies to miss Benfica trip

© Reuters/ANDREAS GEBERT Bundesliga – Bayern Munich v Hertha BSC MUNICH, Germany (Reuters) – Bayern Munich will be without full back Alphonso Davies and midfielder Leon Goretzka when they face ... Read more »

Care home children let down by police and state, Janner abuse inquiry finds

Children who reported being sexually abused by the late Labour grandee Lord Janner were “let down by institutional failings”, a damning inquiry into police, prosecution and social services responses to ... Read more »

Rotherham United v Wycombe Wanderers: Latest team news, Is there a live stream? What time is kick-off?

© Provided by Football League World Championship – Wycombe Wanderers v Rotherham United Rotherham United and Wycombe Wanderers go head to head at The New York Stadium on Tuesday night, ... Read more »

'Utter disgrace', 'Ridiculous' - Many Leeds fans rage over 'shocking' update

© Provided by This is Futbol Marcelo Bielsa A whole host of Leeds United fans are angry on Twitter to see a load of their wintertime fixtures rearranged to be ... Read more »