With the growing demands for energy in various households all over the world and increasing energy tariffs, there is a need to look for better energy deals. Unfortunately, many households are caught up in a web of unending outrageous tariffs, with little or no money to cater for other needs. At the same time, big energy companies increase steadily in profit margins. In the UK, about 11 million households pay excessively for energy consumptions, especially those tied to the Big Six energy companies, namely EDF Energy, SSE, E.ON, NPower, ScottishPower, and British Gas. It isn’t surprising to note that these companies dominate the energy markets in the UK, supply electricity and gas to about 95% of UK households. With consumers paying over £300 extra for the use of energy, there is a dire need to seek better alternatives.
How You Are Being Low-Balled With High Energy Tariffs
You may be wondering why you keep spending more money to cater for your utility consumption – it even gets worse for consumers of services rendered by any of the Big Six energy companies. In 2016, these companies recorded a healthy profit margin of 4.5% (on average) by hitting consumers who haven’t switched with higher tariffs. This action netted the companies with £1 billion in profits. Additionally, consumers on the dual fuel tariff provided by these corporations pay an average of £1,123 annually, an amount exceeding the tariff smaller energy companies charge. Hence, it is important for consumers to compare energy prices and choose the pan most suitable for their needs.
Comparing Energy Prices
With a reputable energy consultant, you can compare energy prices easily and quickly. One of the reputable sites that provide accurate information on energy suppliers and tariffs is Simply Switch energy comparison. All you need is to provide your postcode, the amount of energy you use and provider’s name. Select the plan that meets your requirements, after which, you will be able to switch. The energy consultant, new energy provider and current supplier will complete the remaining process. Interestingly, access to electricity and gas will not be disrupted during this period.
Can Customers With Prepayment Meters Switch Energy Plans?
The answer is yes. You can switch from one energy tariff to another, even if you have a prepayment meter. All you need to do is input “prepayment meter” as your answer when asked the mode of tariff payment. “How do I know I am on a prepayment meter?” you may ask. It’s simple, if you pay your energy bills in advance using a smart card, token or key, then you use a prepayment meter. However, should you decide to switch to a different tariff, you can replace it with a credit meter.
Can I Switch To A Different Plan With The Same Provider?
Should you decide against switching from your energy provider to a new one, then you can find better deals with the help of an energy consultant. All you may need is to switch from the standard variable rate tariff, which is the default plan, to a fixed rate tariff. If you are happy with the services rendered by your current provider, then changing plans would be a better option.