Gas and electricity bills are often a significant monthly expense for many households across the UK. While you can’t avoid paying for them altogether, there are easy ways to make your energy bills cheaper. In fact, many home energy consumers could be paying as much as £200 more than they need to - simply due to a lack of engagement with the energy market.
Luckily, to make sure you’re not spending too much you only need a basic understanding of the switching process and the options available to you.
Why Should I Switch my Home Energy Bills?
One of the main motivations for switching is the opportunity to save money - especially if you’ve never done so before. Savings tend to be higher for those who’ve been disengaged with the market for longer, but even those who have switched in the past year or two might still be paying more than they need to.
If you haven’t switched recently, then there’s a chance that your tariff could have expired. In this situation, your supplier will automatically move you on to their ‘standard’ rates - which are typically far more expensive than the best deals on the market. A simple switch is all it takes to fix this and start saving.
Domestic Energy Tariffs
When it comes to switching your home energy, there are often a number of different tariffs available. The one that you choose will depend on your individual circumstances and energy needs. The type of tariffs that might be available to you are:
- Fixed rate - which fixes your unit rates for a given period of time.
- Variable rate - where your rates can vary based on wholesale energy prices.
- Economy 7 - two different rates are offered at different times of the day.
- Feed in - this gives the ability to sell excess energy back to the National Grid for those who generate their own energy.
Arranging your Energy Switch
If you think you’re paying too much for your home gas and electricity bills, then you should compare the best deals from across the market. The FSB has carefully selected Make It Cheaper as their trusted energy broker for its members, whose services you can call upon through every step of your energy switch.