We’ve looked at where you can get the cheapest gas and electricity prices in the Isle of Wight area to give you an idea of what you could be paying if you switched energy suppliers and how much you could save on your energy bills.

Who are the cheapest energy suppliers in Isle of Wight?

By using the current prices for tariffs in Isle of Wight and the average gas and electricity usage for a 3-bedroom home, we have found the below energy providers currently have the cheapest tariffs near you:

Supplier NameTariff NameTariff TypeMonthly CostAnnual Cost
OVO Energy1 Year Fixed + Boiler CoverFixed£133£1,591
Outfox The MarketSuper Fix'd 12m Apr-24Fixed£134£1,605

EDF Energy
EDF EssentialsFixed£134£1,606
E.ON NextNext FixedFixed£135£1,625
British GasFixed Tariff 12MFixed£136£1,627
This was last updated 3rd May 2024.

Use our comparison site here to find the cheapest gas and electricity prices based on your usage.

Who is the best energy supplier in Isle of Wight?

When looking at energy suppliers, it is important to not just focus on price.

Using data from Trustpilot, we have highlighted the best-performing energy suppliers that are available in Isle of Wight below:

Supplier NameReviews RatingNo. Reviews
Octopus Energy4.8265,000+
OVO4.4155,000+
EDF Energy4.375,000+
E.ON Next4.275,000+
British Gas4.1195,000+

What are the maximum standing charges in Isle of Wight?

Your standing charge is a daily fee you must pay to your energy supplier regardless of your energy usage. Under the rules of the Ofgem price cap, a company is allowed to charge a maximum amount, which varies depending on where you live.

Isle of Wight falls under the South East area, meaning standing charges are currently capped at 30.94p per day for gas and 56.9p per day for electricity. This means that whoever your supplier is, these are the maximum amounts they can charge you.

Combined, this gives a maximum standing charge for gas and electricity of 87.84p.

This means that Isle of Wight is in the area ranked 5th out of the 14 regions in terms of maximum standing charges rates (14th is highest). The capped price is 4% lower than the average.

These rates are based on the July 2024 price cap.

What are the maximum unit prices in Isle of Wight?

Your unit rate is how much you are charged per unit of gas or electricity you use. These units are measured in kWh.

Similar to standing charges, a supplier can charge a maximum for each unit of gas or electricity, which varies depending on your area.

In Isle of Wight, as it is in the South East, the cap on the unit rate for electricity is 25.29p and the maximum unit rate for gas is 5.97p.

Combined, this gives a maximum unit charge for gas and electricity of 119.1p.

This means that Isle of Wight is in the area ranked 5th out of the 14 regions in terms of maximum unit prices (1st is lowest). The capped rate is 2% lower than the average.

Again, these are based on the July 2024 price cap and will next be updated in October 2024.

Which distribution network covers Isle of Wight?

The UK’s energy distribution network is supported by several key companies, each responsible for specific regions. These firms manage the infrastructure delivering energy to homes and businesses, ensuring a reliable supply.

Due to being based in the South East region, the distributor for Isle of Wight is UK Power Networks.

UK Power Networks operates electricity cables and lines in London, the South East, and East of England, ensuring reliable and safe power. They prioritise climate action, customer service, and community support. While your electricity supplier bills you, a portion funds UK Power Networks for maintaining local power infrastructure.

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