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Energy Guides
Top tips for comparing electricity prices
Monday 1 June, 2009
By becca.talbot@consumerchoices.co.uk
Switching energy suppliers can be one of the easiest and quickest ways to save money on your household’s energy bills. However, the energy market can be complex and while one supplier may appear to have a better deal now, another may work out cheaper in the long-term…
The cheapest electricity prices available to you will depend on a number of things, including:
- Your postcode
- Your usage
- Your tariff
- Your payment method
Comparing electricity prices is the only way to guarantee you are on the cheapest tariff available. Here are our top five tips to help you compare electricity prices, saving you money on this year’s energy bills:
1. Energy calculator
Comparing electricity prices using our online energy calculator is the easiest way to find out how much you can on your bills save by switching to a cheaper supplier.
To compare electricity prices using our energy calculator ask your current supplier to give you details of your current annual kWh usage (energy consumption), and enter these online. If you don’t have details on your energy consumption, then enter the number of bedrooms in your home into the calculator. We’ll then compare electricity prices for you and show you how much you can save by switching suppliers.
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2. Energy pricing
Britain’s “big six” energy suppliers tend to increase or cut their prices around the same time. After last years price hikes, all of the six suppliers have cut their electricity prices:
British Gas (www.britishgas.co.uk)
- Price cut: 10% electricity, from 7 May
- Savings: Cutting the average annual electricity bill by £43
Scottish & Southern Energy (www.scottish-southern.com)
- Price cut: 9% electricity, from 30 March
- Savings: Reduction of £66 on the average dual fuel bill
Scottish Power (www.scottishpower.co.uk)
- Price cut: 3% electricity, from 31 March
- Savings: Reduction of £54 on the average dual fuel bill
- Price cut: 8% electricity, from 31 March
- Savings: Cutting the average annual electricity bill by £43
- Price cut: 8.8% electricity, from 31 March
- Savings: Cutting the average annual electricity bill by £40
- Price cut: 9% electricity, from 31 March
- Savings: Cutting the average annual electricity bill by £44
Experts are predicting a second round of cuts later in the year. Stay on top of energy price changes by subscribing to the EnergyChoices.co.uk news RSS feed: Subscribe to our RSS newsfeed >>>
3. Energy tariffs
The cheapest electricity prices will be those on tariffs that are managed online, which you apply for over the internet.
WebSaver 6 is currently British Gas’s cheapest online electricity tariff. However, because prices are dependent on where you live and how much energy you use, you should do an online energy comparison to make sure you choose a supplier and tariff that meets your needs.
By managing your account yourself it saves suppliers money on admin costs such as postage and paper, as well as meter readers - savings which are passed on to you. Paperless billing also means you’ll eliminate the risk of over or underpaying on estimated bills.
Also, consider signing up to a dual fuel tariff as most suppliers also offer discounts for customers who get both gas and electricity from them.
4. Energy payments
Opting to pay by monthly direct debit is the cheapest way to pay your electricity bill. Many suppliers offer discounts to customers paying in this way as it ensures that their bills are always paid on time. For example, British Gas (www.britishgas.co.uk) offers a total discount of up to £184 with its WebSaver 6 tariff to customers paying for both their gas and electricity bills by direct debit.
Although you won’t be charged an additional fee by your energy supplier for choosing not to pay by direct debit, you won’t be able to take advantage of any of the extra discounts offered by energy providers as a reward for guaranteeing you always pay up on time.
5. Energy efficiency
Following last year’s energy price rises, many people are finding themselves faced with bigger gas and electricity bills.
Making your home more energy efficient is a sure-fire way to cut down your electricity consumption, and therefore reduce your bills. Simple measures, such as buying energy saving light bulbs, and remembering to turn lights off when leaving a room will all make a difference.
Read this article for more tips on reducing your energy bills, and make sure you download our free guide to energy efficiency to find out how you can make important changes around your home that will not only cut your energy bills, but also help tackle climate change.
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