11-Mar-2010
March is usually the black month for Britain's bill payers, as it is the
time when suppliers send out statements that cover winter energy
usage. And hasn't it been cold this year! Freezing weather, plus
sky-high energy prices are guaranteed to make you feel afraid of your
next bill. If you have recently received such a statement, you will
know what this is about. £500 or more will be a common quarterly
charge for a normal household this time around.
The first thing
to do after you have picked yourself up from the floor, will be to ask
yourself: when was the last time I looked for a cheaper energy supplier
and am I still getting value for money? If you have switched energy
supplier before, you know how easy it is to find a better deal and
switch to it. You will also know that customer loyalty is not rewarded
by most suppliers. Staying on with your supplier means that you may be
missing out on a better deal that has come along since.
The table
below looks at some of the market leading deals that were available at
this time last year, and compares to the best offers today. Not
surprisingly, most of those deals are now far more expensive than the
best deals around today. It pays to keep on top of energy, just look at
these examples below.
Supplier* Q1 2009 Lead
Discount Tariff Difference to Best Offer today
British
Gas Click Energy 5 14%
more expensive
E.ON Energy OnlineExtra Saver
v13 15% more expensive
EDF Energy Annual Fix v1
19% more expensive
npower
Sign Online v15 16% more expensive
ScottishPower
Online Energy Saver v7 10% more expensive
So
for your own peace of mind, visit SimplyFinance's easy Utilities Comparison Tool,
which compares 14,000 up-to-date live tariffs across the country, in
seconds. More likely than not, you will find a big saving for your
home.
For the most accurate comparison, look at your last bill
and take note of the exact name of the tariff that you are currently
using. If it is not clear which tariff you are on, call your supplier
and ask.
And here is our final piece of advice: Customers often
ask us when the best time to switch is? The common sense answer is -
typically you should look in autumn before it gets cold, because you
want to be on the best available rates by the time you need to heat your
home. But there never is a bad time!
* Scottish and Southern Energy did not have a comparable discount
tariff available in Q1 2009, and are therefore not included.
Calculations based on 20,500kWh gas usage and 3,500kWh electricity usage
in London. Results may vary in other parts of the country.
__________________
Florian Ritzmann is Product Director at online comparison service
Xelector.com and has been working with energy suppliers for ten years.
Why are banks willing to pay you to switch bank accounts? I would rather have them reduce the fees they charge me.