Comparing Energy Providers and Prices

Posted On Friday, 13 March 2020 20:57

One area that takes up a sizeable amount of household expenditure is utility bills. With the constant increase in the price of gas and electricity, a house owner needs to discover ways to cut down on the cost of energy usage. One effective and easy way by which one can reduce energy cost is by switching to a new, cheaper plan. You can save more by switching to a new supplier today. There are various sites that provide the opportunity to switch suppliers - one of which is Simply Switch. On their site, you need to take the following steps to get on a new energy plan:

• Input your postcode so as to get accurate prices for your location.
• Provide information about your present tariff, including your energy provider and your bill rate.
• Select a new tariff from the generated list 
• Follow the next steps, and then sit back and relax, as they, your old supplier, and your new supplier make arrangements to switch your plan.

Categories of Energy Tariffs: Single Fuel Or Dual Fuel?

With most newly constructed buildings, house owners do not need to worry about getting a gas tariff, as they only use electricity. However, for house owners that still make use of both sources of energy, there is a need to select whether an energy company will be responsible for the supply of your gas and electricity, or these energy utilities will be supplied by different companies. A dual fuel tariff plan implies that your gas and electricity is being supplied by two different energy companies, whereas, a single fuel tariff plan means that you get your gas and electricity from the same company.

Most times, you get better deals when you subscribe to a single fuel tariff, as you would only have to pay a single bill and deal with one supplier. In most cases, they even offer discounts on such purchases. However, when choosing an energy tariff, you should consider price as a factor. Additionally, you can compare different dual fuel tariffs with the prices of two separate single fuel tariffs to find out which one works best for you.

Factors To Look Out For When Comparing Energy Providers?

It can be really overwhelming for new individuals that would like to switch, as there are vast suppliers out there with various tariffs to choose from. With the plethora of information available to take in, one can be tempted to ignore switching plans and just stick to the current tariff. However, it is easy to compare providers before making a switch. One of the factors to look out for when comparing suppliers is the consumption rate.

The rate of consumption for each individual varies; hence, it is difficult to properly analyze the cost of any tariff. However, with the intervention of Ofgem - Office of Gas and Electricity Markets - you can view the Tariff Comparison Rate (TCR) of each supplier. With this, you can know the estimated cost per unit per kilowatt-hour which includes extra charges on average consumption.

Other factors include the exit fees and fuel mix (this is for Green Energy suppliers). If you would like to know more about how you can compare energy rates to get the best deal, please visit this link: energy comparison.

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