Compare energy prices – your last chance saloon


Nov 14, 2013
Compare energy prices – your last chance saloon
what is best energy deal So have you compared energy prices yet and got a better deal?


 You will I am sure by now be fully aware that many energy companies and  indeed 5 of the so called ‘big 6’ energy providers have announced energy  price hikes; increasing our already staggeringly high average dual fuel bill  from £1,353 to £1,468. The news for the last few weeks has been  bombarded with articles warning about the need to compare energy  prices, alongside announcements, accusations and general finger pointing  about who or what is to blame; be it the Government or so called greedy  energy providers. 

EDF, SSE, British Gas, Npower and Scottish Power have all announced price increases ranging from 3.9% to 10.4% and it’s only a matter of time until E.ON follow suit and reveals their plans, rumoured to be an increase in the region of 6.6%. 

Well this is your final wakeup call; your last chance saloon. If you haven’t compared energy tariffs yet you could be missing out on the opportunity to save money and freeze the amount you pay for your gas and electricity for up to 3 years!  
 
Is Fixing your Energy Price Best?
If you want the reassurance of a fixed energy deal that is immune from further price increases for a specified period, now is the time to act. The best tariffs only have a certain amount of availability; when they’re they’re gone so you will need to be quick! Already many of the lower priced tariffs have been removed from the market place but there are still deals to be had.

You will usually pay a premium for fixing your energy bills so a fixed energy tariff may not be the cheapest option available today but it could save you money in the long term as the price you pay per unit of energy used will be frozen for the length of the contract and therefore exempt from further inevitable price hikes.

It is also worth looking for a deal with no penalty fee if you leave the contract part way through. This way you have the reassurance of a fixed energy deal with the flexibility to move if your situation or the market changes.

What is the Best Energy Deal?
The best energy deal will depend on your personal situation; where you live, how much gas and electricity you use and whether you prefer to pay the lowest price or have a fixed price for an agreed amount of time.
Therefore the answer to this question really is compare energy prices and find out. Comparing energy providers is quick, easy to do and the best way to secure a tariff that suits your needs.


What is the best way to reduce energy costs?

In addition to choosing the most appropriate energy deal, be it a variable tariff that offers the cheapest rate or a fixed tariff that gives you reassurance of a guaranteed price per unit; the best way to reduce energy costs is I’m afraid to use less energy! What at first seems like a cheaper tariff will not save you money if you use more gas and electricity. Quite simply you pay for the amount of units you use so regardless of whether your tariff is variable or fixed, the more you use the more you pay.

That may sound flippant but how many of us really think about the energy we use? Do you have a tendency to turn the thermostat up rather than reaching for a jumper? Do you have phones, lap tops and TVs constantly on standby? Do you leave lights on in the house needlessly or fill the kettle up when boiling water for one drink? If we are truthful I think we could all manage our energy consumption levels a little more; it just takes a bit of concentration and I guess a bit more of our energy to get into the right mindset.

For more energy saving tips click here.


Ashley Shepherd is an Over 50s Personal Finance Expert

ashley shepherd

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