How Do I Find The Cheapest Energy Tariff?
Before you can find a cheaper energy tariff, you need to know how much you are currently paying. To do this, you need to have a look at your energy bill to see how much gas and electricity you are using (this is shown in kilowatt hours), and what the cost is per kWh as this is what you will need to look for when comparing prices.
If your gas and electricity is provided by separate companies, then it may be worth considering taking both your gas and electricity from one of them as there is a good chance that by doing that you will be offered a discount.
This is one way that you can potentially save money, but it will not guarantee you the best deal on the market, so you should still do a duel fuel comparison of the whole market.
However, while switching to a dual tariff with your current provider is sure to save you some cash, it will not guarantee you're on the best deal on the market. You may still be able to make a saving by opting for a different provider.
You will also need to decide whether you want to be on a fixed energy or variable tariff.
On a fixed tarrif, you have a set price for electricity and gas per unit. This will provide you with the security of knowing exactly what your payments will be, this may mean that you have to pay extra.
You may find that a variable tariff offers cheaper until prices, but as this is not a fixed price, it could be hiked at any time.
How to Pay
How you pay for your energy could also help you save money, as providers will sometimes charge more if you do not pay via direct debit.
Once you know how much you currently spend and what your preferred tariff is you can compare gas and electricity prices and hopefully find a more cost efficient tariff. It is also worth bearing in mind that providers often give their cheapest tariffs to their online customers, so if you are able to access your account online, do consider online only tarrifs.
Once you have find the best deal for you, make sure that you check whether or not you will be charged an early cancellation fee. You shouldn’t be charged a fee if you are switching because your current provider has recently increased prices or announced that it will be doing so, as long as you let them know that you want to leave within 30 days of the price increases.