How switching electricity supplier could mean big savings on your bill.
The energy market is a competitive one despite constantly rising prices. By taking advantage of this and switching to a different electricity provider you may be able to drastically cut your household bills. Switching is incredibly simple as most energy companies offer a comparison service online so you can select the best deal for you without mountains of paperwork or interruption to your supply.
A range of price plans are offered by electricity suppliers, these include fixed plans where the price per unit of electricity is fixed for a specified period of time (protecting you against future price rises although potentially putting you at a disadvantage if electricity prices drop), and capped plans where a maximum price per unit is specified but no minimum price so you are able to take advantage of price reductions if they occur.
It is important to bear in mind that popular plans such as these only fix or cap the price per unit of electricity, the total amount charged will depend on the amount of electricity you use. Additionally, most electricity companies incorporate a standing charge into their energy bills to cover service costs.
Green plans are now available where the energy used to power your home is either partially or entirely from renewable sources, although these can work out slightly more expensive than regular electricity policies, they are fantastic development for anyone with an ecological conscience.
The majority of electricity providers now offer dual fuel energy policies where the gas and electricity for your home is provided by a single energy company. Dual fuel policies not only provide you with the convenience of dealing with a single supplier, but often attract discounts. Additionally, further discounts may be offered if you choose to pay for your electricity monthly via direct debit; this also helps you to spread the cost of heavy winter fuel bills throughout the year.
By comparing the prices of different electricity providers based on where you live and the amount of electricity you use annually, you should be able to find an energy supplier who can offer significantly cheaper electricity than you are currently paying.