How do you make sure you don’t pay too much for your fuel at home? Is there a sure-fire way to ensure your fuel tariffs are the cheapest? Gas and electricity prices are always going to fluctuate depending on the global market, so it’s no surprise that many people are opting for fixed energy tariffs before the predicted price rises.
Recently, both first:utility and Cooperative Energy have announced price increases and it will be no surprise if many other energy suppliers follow suit. With the escalating transport costs and the rise in wholesale energy prices, many customers could benefit from getting a fixed rate tariff before any future price hikes.
On the plus side, first:utility have announced their iSave Fixed September 2014 tariff, and Cooperative Energy did recently cut their electricity prices when other leading suppliers increased theirs by around eight percent. Cooperative Energy also promised to freeze all their prices for the winter months.
The Benefits of a Fixed Rate Tariff
A fixed energy tariff will make sure your rates remain at a constant level for a certain period of time. This helps households determine their expected spending on energy throughout the year, and means they can budget more easily for future months. Some companies offer fixed prices for as long as three years, but the majority offer their special fixed rates for about a year.
Customers choosing to stick with a variable rate may find themselves paying slightly less in the short term, but there are no guarantees that prices will not rise in the future. This is why many consumers are choosing a fixed rate tariff, if only for the peace of mind it affords. Also, in a year or two, the savings for customers on a fixed rate will probably be even greater. Basically, itÕs a choice between paying more now or paying more in the future.
Where to Find the Best Deals
Do a quick search on any search engine and you can find free energy price comparison services. Choose a service that scans all the suppliers available in your area and gives a clear breakdown of each tariff available. Energy prices can vary from one region to the next, so make sure you choose the relevant supplier for your area. A supplier that a friend recommends may not actually turn out to be the right choice for you.
How you use your gas and electricity also plays a part in finding the best energy deal. With unpredictable weather patterns and the expected price rises in the near future, a fixed rate tariff could be the wise choice for many. With so much competition in the energy sector, itÕs worth taking your time to search online for the best deals for your unique circumstances. Prices can vary from one month to the next, and special deals can be missed if you don’t do the proper research.
At the moment, EDF are offering their Blue+ Price Promise – a fixed rate until the end of February 2015. With no cancellation penalties, you are also free to change suppliers when you are still within the fixed period. The longest deal on the market today is npowerÕs fixed rate until September 2016 – a three-year fixed rate that could help many people with their energy budgets.
The Process of Switching
If you do switch supplier, it’s usually a fairly simple operation. New suppliers will need your address, some details about your current supplier, and your typical energy usage. Once they have all your information, they can work out the best options for you. If youÕre not sure how much gas and electricity you use, they should be able to help. The size of your home and the number of occupants will determine the types of tariff you are offered.
Do you want to save hundreds of pounds each year by finding the cheapest gas and electricity suppliers? It is possible, if you take the time to research different companies online. With gas and electricity prices expected to rise in the near future, now could be the time to seriously consider your options. With recent rises in the price of food and other commodities, changing energy suppliers could help you make the savings you need to stay on top of your monthly bills. A little research now could save you hundreds of pounds over the next few years. Can you afford not to compare energy prices?
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