With one price hike after another this year you might fear the inevitable cold weather, as turning up the heat is likely to cost you more than ever. However, there is a solution that will allow you to breathe a little easier as you raise the thermostat.
Each of the UK’s ‘big six’ gas and electricity providers have raised their prices at least twice this year – British Gas, ScottishPower, Powergen, EDF, Scottish & Southern and nPower. Though many are now offering ‘capped’ products, tariffs that will stay constant regardless of further price movements until a predetermined date, many customers are reluctant to switch as price drops are widely predicted in the new-year. So what’s the solution for now?
Before you look to switch to a new provider, look to move to an online tariff. The savings that can be made on gas and electricity prices by switching to an online tariff from one of the big providers are substantial. For example, the standard British Gas online tariff is £199.85 cheaper than the same company’s regular tariff. Powergen also has an online tariff with a 16% discount compared to their standard rate.
With large savings to be made it seems a straightforward choice to jump to an online tariff, but is the process as simple as the savings? Here is what you will need to make the switch:
·Internet access – Obviously!
·Debit card – These could vary from provider to provider.
·Postcode – The location will affect the size of your bill.
·Live email address – This will act as your point of contact and is where you will receive all future bills.
·Energy Supplier Account Number – You can pick this up on your energy bill.
·Meter reading – Your supplier should keep you informed via email of when you need to take meter readings. Meter readings are essential if you want to avoid estimated bills.
So there you have it – a straightforward solution to save you a bundle. Before you switch remember to use a price comparison website, such as moneysupermarket.com, to compare gas and electricity prices and to shop around for the best deal for your circumstances.