The Great Energy Swindle

The Big Six energy providers may offer you ‘price cuts’, but these are almost always on their standard packages which means that  for most people, they won’t be getting the most competitive deal.

The real cheaper deals are simple to find by comparing prices online where you get a whole of market comparison on all available tariffs, not just the ones the big six energy companies want you to see.  We have calculated the average household can slash their bills by more than £300 a year. Don’t get swindled, get saving. Here are five more top tips to keep your energy bill low :

Keep more of your money to yourself

Energy companies love holding onto our cash – they make around £40,000 in interest per day on the £450m around 5m of us have generously put into their coffers by overpaying on our direct debits. So ask for it back. They have to give it to you.

Watch the tariffs

It really pays to simply keep an eye on the tariffs available, to keep your energy bills as low as possible. A quick search on the energy comparison tool takes seconds. The switch itself takes no more than a few minutes.

For a family in Kent using EDF Energy as a supplier for both gas and electricity and paying £900 a year by direct debit, shows they could save £210 – more than a quarter of their bill – just by switching suppliers to npower’s Sign Online v.18.
The amount will vary around the country depending on the deals being offered, and also because of how you pay the bill.

Don’t just go for who you know

Smaller companies are now coming into the market, and they can be some of the cheapest providers. Electricity is the same, no matter who produces it, so don’t be scared to go with a supplier you have not heard of. Our switching service gives companies a review rating, so you can benefit from other people’s experience.

Pay by monthly direct debit – but not too much

Energy companies love direct debit payers – that is how they build up such vast surpluses. But in return, you will usually get a discount. So take the benefits, but avoid the drawbacks by insisting any excess the energy company has is returned to you regularly. Or you can ask to have the direct debit reduced.

Watch your usage and give meter readings

Using power meters and not leaving electrical items on standby will all make a difference to your usage.

Giving a meter reading regularly prevents guesstimates too, so if the company does not ask you for a reading, give it a reading anyway, at least once a quarter.

Some companies, such as Npower with its ‘Go Save’ alert service for customers managing their accounts online, will remind you to send a meter reading online, which saves hassle and time and money in a phone queue. Even better, you never pay more than you need to.