Want to know how you can make a saving by going online? We show you how.
As we become more internet savvy more companies are offering discounts on electricity tariffs if we choose online electricity accounts. It makes sense from a company’s point of view, as it cuts down on admin expenses and also makes sense for us by offering another way to bring down our bills.
How to compare online electricity tariffs
Finding electricity tariffs online is relatively straightforward. Perhaps the easiest approach is to use an electricity comparison site which allows you to compare electricity prices online side by side.
Providing you have at least a rough idea of your usage you can get an online electricity quote that's tailored to your exact circumstances.
With most companies, an online electricity account should be less expensive than one which involves paper billing. But this doesn’t mean you’ll be guaranteed to make a saving. You should get as many quotes from as many different providers as possible to make sure you know what’s available.
Finding the best online electricity tariffs
As with any other type of electricity tariff choosing the best option depends very much on how you use your energy and how you want to pay.
Many options come with a standing charge. As a rule, those with a higher standing charge have a lower kilowatt hour rate. No standing charge tariffs are available but unless you use particularly little electricity tariffs that apply a standing charge are likely to be best for you.
Options such as Economy 7 offer a discount during off peak times, so if you’re likely to be using electricity at night this might be a good option.
Almost all providers will be ever so keen to persuade you onto one of their dual fuel tariffs. The hope is that by switching to one of these you should be able to get a better deal, but this is not always the case so you should definitely look at all your choices.
The type of tariff will also be very important. A fixed tariff charges a rate per unit which will not move with the fluctuations of the market – perfect if you’re expecting prices to go up. The one downside to this is that you will be locked into a contract so it will be difficult to move elsewhere in search of a better deal should you want to.
A variable tariff has more flexibility but you will be vulnerable to price rises, while a capped rate or discounted electricity tariff offers a best of both worlds option – the reassurance that costs will not rise beyond a certain rate combined with the flexibility to take advantage should prices actually fall; you do tend to pay a little more with these options though.
Taking control of your bill
A major benefit of online billing is an opportunity to take control of your own bill, by taking your own meter readings, ensuring they are accurate and you do not end up paying for more than you use. The ability to submit online gas and electricity readings helps the company ensure the billing is up to date and helps you see how much electricity you’re using at any time, and get the best out of any discounts.
To find the cheapest energy tariff for you check out our online electricity comparison table and get a customised quote based on your usage.