Understanding your energy tariff and knowing when to switch can save you significant amounts on your energy bills. This LEAP blog will guide you through the ins and outs of energy tariffs, reasons to consider switching, and simple steps to find the best deal for your needs.
Your energy tariff is the rate you pay for the gas and electricity you consume within your home. This rate can be based on various things, including the supplier you choose, the contract you have, and how much energy you use.
Energy tariffs generally fall into three main categories:
Here, the rate per unit of energy is fixed for a specific time, protecting you from price increases during that time.
This rate can fluctuate based on the energy market, making it a riskier but potentially cheaper option.
When you buy both gas and electricity from the same supplier, you often enjoy a discounted rate.
Your energy bill is made up of two main types of charge: the standing charge (a daily fixed cost) and the unit rate (the cost for each unit of energy consumed.) By getting used to your tariff details, you can make more informed decisions about your energy use.
There are a few situations where switching your energy tariff or provider can be helpful:
If you’re relocating, it’s an excellent time to evaluate your options. New houses may qualify for different tariffs, offering a chance to find a better deal that suits your new living situation.
Life changes, such as family members moving out, can significantly affect your energy usage. With less people living at home, your energy consumption may decrease, suggesting that a new tariff could save you money.
If your bills seem higher than expected, it might be worth looking into different tariff options. Performing regular checks and providing up-to-date meter readings can help, leading you to better tariffs.
Switching your energy tariff can be completed in three simple steps:
Use online comparison tools to review different tariffs and providers. Look for deals that suit your consumption patterns, ensuring you compare both fixed and variable tariffs and consider any additional fees.
Once you’ve identified a better tariff, get in touch with your new supplier to arrange the switch. They will guide you through the process and handle the bulk of the work, including notifying your current provider.
After your switch is confirmed, make sure to set up your new account correctly. Providing them with accurate meter readings ensures that your charges reflect your actual energy use, preventing any issues with billing.
If you’re feeling overwhelmed or uncertain about switching tariffs, don’t hesitate to reach out to the LEAP Energy Advice Service. Our friendly advisors provide tailored support and clear advice tailored to your unique energy needs. We can help you understand your current energy situation better and offer insights on improving your energy efficiency.
