Home electricity and gas prices have been a contentious subject in the UK in recent years since they seem to rise every quarter; and by pretty hefty amounts at that. In this article we’re looking at just electricity – rather than a combination of electricity and gas – providers and have researched the cheapest we could find currently on the market. Some have their prices are fixed for a year, others for longer (up to a year and a half in the case of Extra Energy).
The majority of the companies have fixed price tariffs, others such as British Gas and Sainsbury’s Energy, also provide variable rates. Most customer accounts can be managed online with only a handful of providers refusing this service for particular accounts.
At the time we wrote this article Extra Energy claimed to have the biggest saving insisting that if consumers switched to them they could look forward to an average saving of around £128 a year.
This electricity saving comparison table, supplied by the website money.co.uk, neatly highlights the providers and different options.
Meanwhile, according to research by consumer magazine Which and carried out towards the end of 2013, only around 14 per cent of UK households switch suppliers. Yet the process really isn’t that difficult. It merely involves entering your postcode into an online comparison site then giving the name of your current supplier and the one you’d prefer to be with at that moment in time. To get the best deal out there it’s also handy to know how much you currently spend on electricity.
The site will then request you fill out a direct debit form and the whole process can be kick started. Expect the change-over to take up to six weeks.
Of course, another way of getting a better deal could be simply to call up your existing supplier and threaten to leave. You may find your next bill won’t be quite as hefty as they suddenly find a ‘newer deal’ for you to take advantage of.