Saving money on your energy bills is no easy feat.
There's much out there, like tariffs and plans, direct debit pricing, and standing charges. All of which can feel overwhelming, especially for the UK's energy customers.
It's almost impossible to know what you should be comparing, especially since not everyone has time to get confused by the figures while they're supposed to be doing other things.
Choosing a new energy provider can be confusing and risky. But if you choose correctly, you could save hundreds for your contract. You'll be stuck with high bills for years if you choose the wrong one.
It's not unusual for people to pay hundreds a year more than they need to. It doesn't have to be this way, though.
We all want brilliant customer service and an easy online process when getting an energy comparison. So you can make a calculated decision and get the best deal with the correct information.
Learn here the essential points on comparing the cost of gas and electricity bills.
Why Compare?
There are a lot of advantages when you compare different energy suppliers, like saving and using your energy sources wisely. Let's check below for more.
It can help you find better deals.
Some companies reduce their tariffs mid-contract, which means if you've signed up with them and they offer a better deal now, they'll lower their prices so that they're comparable with what you'd be paying if you'd switched to them in the first place.
This isn't always possible, but it often happens, especially during summer when there's less demand for energy and suppliers don't want to lose customers.
If you've already signed up with an energy company and offer a better deal now, it might be worth switching again.
It ensures that your bills stay low.
Energy companies regularly increase their prices yearly (which is why it's crucial to compare business energy contracts every time they kick in), so if your tariff doesn't change annually, you'll pay more.
It's also worth checking how much your supplier has increased its prices during the past 12 months. This way, you can see whether they will likely do so again.
If you don't think the price rise is justified, it might be worth switching away.
How To Compare Gas And Electricity Prices
Below is a step-by-step guide on comparing gas and electricity prices.
Set a benchmark
You first must determine how much electricity and gas you use each month. You can usually find this information on your last bill or by looking at your energy meter when it's not used.
It's important to know exactly how much gas and electricity you use to compare offers properly.
This will also help when signing up with new suppliers – they may ask for proof of address and recent bill payment history to confirm that you want to switch.
Once you know how much energy you utilize each month, you can compare gas and electricity prices.
It's important to note that different types of tariffs are available in the UK, so make sure that all potential deals are based on the same kind of tariff.
If they're not, then they won't be directly comparable with each other.
Shop around
The best way to find out if you're on the right energy deal is to shop around with different companies.
You can do this by calling them and asking for a quote or by visiting their websites and calculating how much you'll pay based on your usage.
Check whether any special offers are available from suppliers not listed on price comparison sites.
Some suppliers offer discounts or other incentives if you sign up online or in-store rather than over the phone or by post.
Use an online comparison site.
If you're unsure which energy company is the cheapest in your area, compare prices online.
Enter your details into our comparison tool, and we'll show you all the offers available in your area, their prices, and any introductory offers they might have.
Websites allow you to compare prices from multiple providers all in one place. This saves time, as you don't have to call every company individually for quotes.
However, these sites charge for their services – so it's worth checking if there are other ways to compare gas and electricity prices before signing up.
It's worth noting that a good comparison site offers a wide range of tariffs from different suppliers, including standard variable and fixed rate deals.
Make sure they include all the big six providers in their results (British Gas, EDF Energy, Npower, etc.) and smaller suppliers. This is because they may offer significant value tariffs that might not be available elsewhere.
How to Switch Suppliers
Once you've found a good deal and checked for hidden fees, you must also ensure that the provider is reliable and trustworthy.
After that, all that's left is signing up and switching. This should take around 10 minutes at most and can be done online or over the phone with most suppliers - follow their instructions at this point.
Here are a few things you need to remember when thinking of switching.
First, you need to know your tariff and account numbers (if you don't already).
Second, you should also have a rough idea of how much electricity or gas you use each year. If not, you can contact your current supplier and ask for this information.
Final Thoughts
Electricity and gas prices are constantly changing as the market fluctuates.
For example, if demand is high and supply is low, this will increase the price of electricity. And if you've noticed your energy bills rising in recent months, this is probably why.
However, that doesn't mean you have to accept an expensive deal. It's possible to switch to a cheaper tariff and still get excellent service from your supplier.
You can save money by switching to a new deal when your current contract ends. But how do you know when it's time to change? And how do you compare energy contracts effectively?
To help you out, you can check out this guide on the best way to compare energy contracts.
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