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How to Find the Cheapest Energy Supplier?

How to Find the Cheapest Energy Supplier?

If you think you are paying too much for your gas and electricity supplies, then you should find and switch to the most economical energy provider. Switching from one energy supplier to another is not as complicated as you may have thought. Below is the information we have compiled for your convenience.

How to Find the Ideal Energy Plan?

In order to get the best energy deal, you need to first carry out an online comparison of the cheapest gas supplier or the cheapest electricity supplier depending on your need. To perform this comparison, you will be required to provide your postcode along with details of your existing price plan, and your current energy consumption, both of which can be found on your latest energy bill. It is advised that you keep a regular check on the comparison sites, as the energy costs are known to fluctuate from one supplier to another.

How are Energy Prices Determined?

Several factors are responsible for the shift in energy costs, which include lack of energy worldwide, logistic concerns, weather changes etc. The energy suppliers, in an attempt to protect themselves from future price variations, often purchase energy in advance. Therefore, the market’s conditions are extremely unstable, which calls for you to be more cautious when seeking out energy suppliers. Hence, you should frequently compare prices to avail the best energy deal for your home.

Which is the Best Energy Deal for You?

Based on your house location and energy consumption, the tariff is likely to fluctuate. For this reason, the ideal energy supplier for one individual may not be suitable for the other. You have to first compare between prices of gas and electricity offered by various energy suppliers online wherein you will be asked to state your location and energy utilisation. Then, depending upon these factors the most inexpensive plan will be quoted to you. It is possible that some deals and discounts may not be accessible in your location and the prices may also differ.

If your household energy consumption is higher, a fixed price plan, with subsequent lower cost per unit of energy consumed, will work out best for you. However, the same plan will not be favourable for a family that utilises very little energy in comparison. In such cases, the standard prices or more economical energy suppliers will be more suitable. The energy comparison tool takes into account all these aspects before estimating the most beneficial energy suppliers for you.

What to Expect When you Decide to Switch?

You can rest assured that your energy supply, whether gas or electricity, will not be interrupted once the switch takes place. The very same channels will be used to supply you with gas and electricity as were used by your previous supplier. Hence, there is no fear of a power cut or a blocked gas supply.

Benefits of Fixed Price Plans and Small Energy Suppliers

In case you are worried about hike in gas or electricity prices after the switch, choose a fixed tariff plan to ensure you don’t have to pay more in future. Despite the fact that fixed price plans entail a higher premium, people prefer it, because they have to pay a fixed amount every month regardless of their metre readings. Another advantage of fixed price plan is that some suppliers don’t implement any cancellation fees, thereby allowing you to switch to cheaper energy suppliers without fear of incurring a charge.

Many people prefer a small gas / electricity supplier over a big company, as they can be guaranteed of a comparatively more stable and consistent energy supply throughout the year. Moreover, you can do away with any worry about your preferred supplier going out of business, as OFGEM will ensure that you are switched to another supplier at once.

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