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Since the deregulation of the gas and electricity markets in 1998 and 1999, respectively, customers have had a choice about which suppliers they buy their energy from. According to uSwitch, you could save up to £325 a year by switching to the cheapest supplier in your area.
You can choose separate companies to supply your gas and electricity, or you can choose one company to supply both – this is known as dual fuel. A list of the supply companies operating in your area, together with the prices they charge, is available from Energywatch by calling 0845 906 0708.
Alternatively, you can use the internet to search for – and switch to – a new supplier. A host of comparison websites, such as uSwitch.com, Moneysupermarket.com and energyhelpline.com, provide data on the cheapest tariffs available, depending on where you live and how much energy you use.
The sites compare the different services for you and arrange the changeover. All you need to do is type in your address, your current supplier, the annual or monthly charge and some details about your living arrangements. The site then lists alternative suppliers, prices and, in some cases, service ratings.
Energy companies all offer a range of tariffs and payment options. With an “online” tariff, consumers enter their meter readings onto a website, pay by monthly direct debit and manage their account on the internet. Generally this kind of tariff is cheapest. Energy firms set the direct debit amount according to the amount of energy you used in the past or what they think you will use in the future. If you use less than this amount your account could be in credit and you can ask your supplier to refund you the money.
On other tariffs payment options include paying by cheque, cash or over the phone on receipt of a quarterly bill. If you have had credit problems in the past, or not paid your bills on time, energy companies may insist on installing a pre-payment meter at your property. This is the most expensive option and customers pay by topping-up a pre-payment key at a participating shop.
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