Are you on the best deal when it comes to your energy bills? Are you sure? Despite constant reminders by financial experts to switch our tariff or providers many of us would rather make do. But with times so tough economically it’s important to make savings where you can.
So should I switch?
The answer is maybe. But what you absolutely should do is check whether or not it will be beneficial to you to switch. You won’t know whether you’re on the best deal for you unless you do your research. And, thanks to price comparison sites, that research takes just a matter of minutes.
At the moment, a family of four in a four-bedroom house, getting electricity from EDF and gas from British Gas, paying by monthly direct debit will pay £1624.14 a year (based on average calculations of 25,740 kwhs of gas and 5,495 kwhs of electricity a year).
A quick look at the TotallyMoney comparison site reveals switching to a dual deal with Spark will cost £1493.82, a saving of £130.32 (Tenant Direct deal). Meanwhile Scottish Power’s Online Energy Saver 20 will cost £1583.53, a saving of £40.61. And Npower’s Energy Online (fixed until October 2013) costs £1602.59, a saving of £21.56. Of course it may not be the provider you need to switch but rather the tariff you are on.
Who’s offering the best deal?
It’s difficult to produce a definitive list of the best deals as location and property size can have a big impact. However, topping most lists for different variables are British Gas, First Utility and EDF.
What if I want to go green?
Most providers offer green energy deals. But be prepared to pay a little extra than you would for a typical deal if you want to reduce your carbon footprint. Energy, LoCO2, and Green Energy UK are specialist green energy suppliers.
How can I be sure to cut my bill?
The most obvious answer is use less energy, turning off the lights when you leave the room and not leaving anything on standby. However, there are some other tips you could try too.
Always pay by direct debit, for example, and you’re likely to save between 5 and 10%, depending on the provider. Always double checking your bill against a metre reading is a good way of making sure you’re not paying more than you should. And choosing your supplier’s online tariff will offer you a further discount.