After hearing all the news regarding the energy price cuts, I find it very difficult to choose the cheapest supplier. I want to switch to a cheaper tariff as I feel that I’m paying too much. Please help me to find out the cheapest supplier.
I completely agree with you as it is not easy to tell who is the cheapest supplier because the energy market is very confusing. Below mentioned is a simple guide which will help you to compare the energy prices and to choose the cheapest tariff for yourself.
Comparing energy prices
One of the quickest as well as the fastest way to find out the amount of money you can save by switching to a cheaper supplier is by comparing prices with the help of our online energy comparison service.
The cheapest energy supplier is dependent on the following factors:
- Place where you live
- Amount of energy used by you
- The nature of your tariff
- Mode of payment
For the purpose of comparing energy prices with the help of our energy calculator, you need to ask your current supplier to provide you all the necessary details regarding the current annual kWh usage (energy consumption). Once you receive the details, you need to enter these online. In case your current supplier is unable to provide you the details then you can also enter the number of bedrooms of your property into the calculator. Once you completed that, we will then compare prices for you thus showing you the amount of money you can save by switching. You could save up to £1,941* by switching.
Energy price cuts
Price cuts declared by the “big six” energy suppliers are given below:
British Gas
Price Cut: 10% gas, from 19 February
Savings:Cutting the average annual gas fuel bill by 10% to £793
EDF
Price Cut: 8.8% electricity, from 31 March
Savings:Reduction of £40 on the average dual fuel bill
Scottish Power
Price Cut: 7.5% gas and 3% electricity, from 31 March
Savings:Reduction of £54 on the average dual fuel bill
Scottish and Southern Energy
Price Cut: 4% gas and 9% electricity, from 30 March
Savings:Reduction of £66 on the average dual fuel bill
E.ON
Price Cut: 9% electricity, from 31 March
Savings:Reduction of £44 on the average dual fuel bill
nPower has not yet announced any kind of reductions. According to the experts, a second round of cuts will take place later in the year.
In order to stay informed regarding any cuts or price hikes, you should sign up to our energy news RSS feed.
The cheapest energy tariffs
The customers who sign up for an online tariff and pay their bills by monthly direct debit are provided with cheapest energy tariffs. Discounts are offered by most of the suppliers to the customers with dual fuel (both gas and electricity from the same supplier). You should provide the meter readings because the estimated readings can be incorrect in some cases. Also you’ll pay more for a meter reader for visiting your home.
In order to get more information, you can read our guide on how to save money on your energy tariff.
Reducing your energy bills
Because of the recent energy price cuts, people are confused whether to switch the energy suppliers or not. They are eagerly waiting to bring down the cost of their energy bills.
Apart from switching the energy suppliers, you can do a variety of things for saving your money. Purchasing energy efficient light bulbs and switching off your appliances when not in use are few simple actions that can reduce your energy consumption. You can go through our guide for more tips on saving money on energy bills.
You can also download our free guide to energy efficiency for getting more information on cutting down your energy bills.