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utilities: Electricity

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Comparing Energy Prices: Choosing The Right Company

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.

Comparing Energy Prices:

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.

Finding the Cheapest Energy Supplier:

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.

Read More Below

Company

Rates

Green Plans?

Payment Options

Extras

OVO

From £60

Yes

Monthly, pay as you go

OVO Smart Meters, OVO Broadband

First Utility

Vary depending upon postcode

Yes (solar energy)

4 different tariff plans

Dual Fuel options, simple switching

Scottish Power

From £793 a year (bulk rate)

Yes

Yearly or monthly

IOS and Anrdoid monitoring applications, direct debit manager

NPower

Vary with postcode

Yes (energy-efficient boilers)

4 different tariff plans

Direct debit, automatic switching from present provider

SSE

Vary with postcode (1-year fixed rate)

Yes (member of Green Initiative)

Fixed 1-year option

Phone and broadband other options within a bundle

Flow Energy

Vary (more than 10 plans available)

Yes (flow boiler)

No set contract; pay as you go

No exit fees, top customer service

Sainsbury Energy

Varies with postcode

No

4 different tariff options

£150 pound gift card,

Extra Energy

£768 (approximate)

Yes

Numerous payment options

Dedicated personal account management, business plans

Eon

£769 (yearly)

Yes (green plans, solar schemes and low-flow boilers)

3 different fixed tariffs

Rewards points, price alerts

EcoTricity

Prices vary

Yes (voted greenest energy company)

Pay-as-you-go, monthy

Easy switching, excellent customer service

The Cooperative Energy

£775.00

Yes

Fixed and variable plans

Online switching capabilities

Utilita

Vary with postcode

Yes (energy-efficient boilers)

3 payment plans

Pre-paid plans and smart meters

Isupply Energy

Vary with postcode

Yes (feed-in tariff scheme)

One tariff (based upon postcode)

Online switching, live customer support

EDF Energy

Vary with postcode

Yes (nuclear power)

4 different tariffs (businesses included)

Pre-paid plans, long-term contracts for reduced rates

Ebico

Vary with postcode

No

14 regions and supply costs

Dual gas and power, online energy-saving advice

GB Energy

£765.00

Yes

Yes.  Fixed 12-month contract

No standing charges, no exit fees

Green Star Energy

£875.00

Yes (100 % renewable energy option)

4 different tariffs

Online rate monitoring, excellent client support

Spark Energy

Vary with postcode

Yes (central heating technology)

4 different tariffs (fixed and variable)

Online comparison charts, affordable housing rates

Discrete information gathered from various third-party comparison portals.  All valid as of 6 March 2016.

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.

Other Ways Of Saving On Energy Bills:

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.

Solar Power and Own Power Generation:

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.

Find the Best Electricity for You

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