Energy bills are becoming more expensive and are increasing at a steady rate. They never reduce which is alarming in this world of high energy usage. Surprisingly energy suppliers, and there are five major suppliers in the UK, all have different pricing structures for commercial and domestic usage.
To ensure that you are paying the correct amount for your gas, electricity, oil and water it is worth comparing the tariffs of your current energy supplier with those of other suppliers from time to time. Today’s best deal may be the worst in 12 months time. Do your research by contacting suppliers direct and also check the various on line comparison web sites.
When you are comparing energy suppliers, you should consider other factors besides price such as the amount of energy consumption and where you live. Other factors include reward schemes, customer service, transfer process, online services, contract terms and payment terms. Price usually is the overriding consideration, the cheaper the price, the more you save on energy bills. You should not sign a contract which restricts switching in the future.
|Company||Type of Tariff||Average Annual Cost||Tariff Exit Fee||Price Promise||Manage Online||Special Discounts|
|EDF Energy (Blue + Price Promise April 2015)||Fixed||£482||£0||Fixed until the end of March 2015||✓||6% discount if you set up a direct debit|
|The Co-operative Energy (Fixed Price July 2015||Fixed||£490||£0||Fixed until the end of July 2015||✗||✗|
|Sainsbury’s Energy (Standard)||Variable||£503||£0||✗||✗||✗|
|British Gas (Standard)||Variable||£503||£30||✗||✗||✗|
|LoCO2 Energy (Pocket Fixed 8)||Fixed||£597||£25||Fixed for the first 12 months||✗||✗|
If you have enjoyed good customer service with the current supplier you may be willing to forsake lower prices available in the market and remain with the current supplier. If your energy consumption is small it may be better to choose an energy usage plan that does not have standing charges for the initial use.
You might also be interested in fixed tariff plans where the rates of energy units remain constant for the duration of the fixed period thus simplifying the checking of energy bills. Finding the cheapest energy supplier is a matter of carefully researching the market but finding the best energy supplier irrespective of price requires an in depth examination of all the other factors mentioned herein.
By far the biggest saving on energy bills is to cut down on wastage. Follow the energy savings initiatives published by the government and the energy suppliers. Turn off unwanted lights, install energy saving light bulbs, turn off standby modes on the TV and computer, restrict the amount of water consumption by reducing shower time, adjust the amount of water for toilet flushing, do not overfill the kettle. These are typical ways to save on energy.
Installing solar panels will provide hot water even when the sun is not shining. This will save money on energy bills, however the cost of installing panels has to be taken into account. Laying a grid of copper pipes under the house or under the garden and a battery converter will generate electricity to reduce energy bills. Surplus energy can be fed back into the national grid for which you will be paid by reduction of your energy bills. Again, the cost of installing the system has to be taken into account.