WAYS TO REDUCE YOUR ENERGY TARIFF

in Tips on 23rd June 2020

One of the factors you must consider when choosing an energy company to go with is customer satisfaction. What makes this very important is the fact that we use energy, be it gas or electricity, for various applications, daily. As a matter of fact, we use energy round the clock, be it to cook, do laundry, control room temperature, charge our smartphones and PCs, watch our favourite movies and listen to music, and many more. Our daily energy consumption rate can be estimated by how much we use our appliances. Hence, this determines our energy tariffs at the end of the month. Many households look for more ways to save money, one of which includes switching energy providers. 

Why Should I Switch Providers?

One of the biggest sectors in the world is the energy markets. Billions of households consume energy across the globe. The money generated from energy tariffs is mind-boggling and accounts for the continuous growth and sustenance of the energy markets. In the UK alone, the Big Six energy companies make around £1 billion profit despite losing consumers to smaller energy providers. Unfortunately, over 11 million UK households pay more than they should on energy tariffs – it gets worse for those who get their electricity and gas from the Big Six energy companies. By changing providers, you can save an average of £300 each year.

Who Are The Big Six Energy Companies?

The Big Six energy companies are the largest shareholders of the energy markets in the UK. They distribute gas and electricity to about 95% of UK households. These companies include British Gas, EDF, Npower, SSE, Scottish Power and E.ON. Most of these companies have been known to charge their customers more in energy tariff than other suppliers. According to Ofgem, the regulator for energy in the UK, these companies increased their profit margin to 4.6% in 2016, by increasing the energy tariffs of customers who haven’t switched. Under these corporations, a dual fuel tariff is estimated to be £1,123 an average – £3oo to £380 more than it should be. Hence, if you haven’t changed your provider in a very long time, especially if they are one of these giant energy companies, now is the time to make that move.

How Can I Compare Energy Tariff?

Finding a better tariff and energy provider has never been easier than it is now. You can get in touch with a reputable energy consultant to compare providers and switch energy tariff. Here are the steps to guide you through the process:

  • Input your postcode, to get available energy tariffs in your area.
  • Provide information on your present tariff, supplier’s name, and energy consumption rate.
  • Select a new tariff from the list generated.
  • Sit back and relax as the energy consultant, your new supplier, and current one complete the process.

During the switching period, you will still have access to gas and electricity. You also have a period of 14 days, known as the “cooling period”, to cancel your request. Enjoy more value for your money.

Categories: Tips

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