Good to know – energy tariffs

in energy on February 21, 2019

The market and its range of options has grown significantly in recent years. Suppliers have a variety of ways in which a tariff can be paid to suit your circumstances.

What type of energy tariffs can I switch to? 

Payment structure:

  • Fixed (a unit of energy costs the same throughout the year)
  • Variable (the cost of a unit of energy changes throughout the year, depending on season)

Energy Types:

  • Single fuel (gas)
  • Single fuel (electricity)
  • Dual fuel (one bill for both your gas & electricity)
  • Prepayment meter (pay-as-you-go for your energy, topping up via a ‘key’ or ‘smart card’)
  • Economy 7 (an energy plan that supplies cheaper energy during off-peak, or night-time hours)
  • Green energy (the energy you use is ‘matched’ by purchases of renewable energy sources such as wind or solar)

How to Switch energy providers

Switching is quick and if don’t right won’t give you a headache, And don’t worry, your energy supply won’t be cut off whilst you transition to a different supplier.

Here is what you need

A recent bill so you can compare prices, this will tell use who your supplier is and what tariff you are on

Compare. Once you have inputted the information outlined above, you will see what deals could save you money. Once you’ve selected the tariff to switch to, you’ll be directed to the supplier’s page. They may ask for direct debit details and your meter readings, which helps your new supplier to create a new bill and allows your old supplier to send a final bill.

– Check your old account balance. If you’re in credit when you switch, the money will be refunded to your account automatically, but it’s worth checking for the payment. Alternatively, if you owe money on the account your former provider will receive payment direct from your account.

– Allow for around three weeks for the switch to complete. Switching is a simple and no work outside or inside your property will be required. The only thing that will differ is amount you pay monthly.

– The donation. upon your switch completion, you will be notified and your chosen cause or charity will receive the donation.