The most frugal and savvy consumers will often compared electricity suppliers in order to find the best available tariffs and prices for their requirements. It is important to remember that what may be the best tariff for one person is not necessarily the best for everybody and so you should compare prices and tariffs according to your requirements rather than listening to advice from others.
As well as comparing prices, you should consider any additional offers that suppliers are making in order to try and attract new customers. Such offers may include capped fees, access to loyalty schemes from other companies, and even services like free insulation for your loft and cavity walls.
Aren’t All Suppliers The Same
There are around 20 electricity suppliers that currently operate in the UK and while some offer very specific types of tariff that are not suitable for all accounts, it means that there is plenty of competition out there.
Competition is good because it means that prices are kept lower, and that suppliers must also offer unique and beneficial deals in a bid to attract new customers to use their services rather than those of other companies. Unfortunately, this range of different offers and incentives does make it more difficult to compare prices, but it is worth the effort of shopping around to get the best deal.
Individual Supplier Offers
Most suppliers, but especially the larger ones, will have some type of offer that is meant to entice people to sign up with them. These offers can really boost the savings that you make and they may come in the shape of products, items, energy saving services, or loyalty schemes.
Compare offers as well as prices to be certain that you are getting the greatest benefits from your new supply.
Discounts And Fees
When you compare electricity suppliers, consider the discounts that are offered with most tariffs. A direct debit discount could prove to offer the biggest saving of all. Some suppliers will offer as much as a 6% discount if you are willing to pay this way.
It is important that you compare discounts, as well as prices. Some companies may advertise their prices having taken the direct debit discount off, while others may be inclined to publish their prices before offering the discount. If you compare electricity suppliers that use both techniques, then you are not comparing them on a like for like basis.
Discounts are not the only methods that suppliers will use to entice you to sign up for their tariffs. You will find that some companies like British Gas and E.On have partnered with supermarkets in order to offer you access to the loyalty schemes that these shops offer. You could earn Clubcard points or Nectar points whenever you turn on your TV. It may take some time to build up a sizeable amount, but if you take these offers into account as well, then it could change the way that your list of suppliers rank against one another. However, if you will not benefit from a particular offer, then it is not worth including this in your comparison.
The single rate tariff is actually only one type of tariff that is available to consumers. There are tariffs that offer cheaper night-time rates than day rates, and those that provide off-peak hours during the day, during the evening, and overnight. If you find that you use a lot of your electricity during these off-peak periods, then you could benefit greatly from moving to this type of tariff. It may take you a little longer to compare single rate against Economy 7 tariffs, but the additional savings could make it a worthwhile venture.
Compare Electricity Suppliers And Get The Best Deal
The main purpose when you compare electricity suppliers is to find the best prices on the tariffs that are most appropriate for your energy usage requirements. You could save hundreds of pounds on your annual bill and, by signing up for a fixed rate or capped tariff, you may be able to ensure that you are not hit by any price rises that your chosen electricity supplier publishes over the next few years.
Matt Jackson the author of this article writes regularly on electricity suppliers and the deals available, Matt recommends to his readers to use the following website http://www.uswitch.com/gas-electricity/ from uSwitch to start finding the best energy deals around.
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