Finding the best deals on gas and electricity doesn’t have to be that hard. Although the big six energy companies are hiking prices through the roof, it is still possible to seek out some great deals. EDF is currently the only remaining major supplier not to increase its prices and no doubt it will at some point in the near future, but it is probably holding out as long as possible to take advantage of people looking to switch.
There are so many different energy suppliers on the market now, with a wide variety of plans, but all it takes is a little time and effort and you could find yourself saving money almost immediately. Follow these money saving tips to find the best deals on gas and electricity.
1. Compare gas and electric
The first thing you need to do is compare the gas and electric packages that are available – how are you going to be able to judge whether what you currently have is good value without knowing what else is available? Head on over to an online comparison tool which should provide you with a completely independent overview of the market. Our tool allows you to tailor the results to suit your personal circumstances.
2. Online tariffs
If you have access to the internet and are looking for money saving tips, one of the best pieces of advice is to completely ignore all standard gas and electricity tariffs. The best deals on gas and electricity are always the online tariffs as they are usually a lot cheaper than standard ones because managing your account online means less work for the energy company. The only difference you will have with an online tariff is that your bill will be emailed rather than posted, but you could save around 10% on your energy bills.
3. Dual fuel
If you have the same energy supplier for your gas and electricity, the chances are that you are on a dual fuel package. This usually means that consumers are offered a slight discount for ordering more than one fuel. However, don’t fall into the trap of thinking that dual fuel is automatically cheaper than single packages. You need to compare dual fuel packages and single fuel packages as there’s a small chance you could end up losing out and actually paying more.
4. Switching
No doubt you have heard a lot of talk about switching suppliers over the past few years, particularly as the economic downturn hit and everyone starting looking for the best gas and electricity deals. However, at this point in time it might not be your best bet. If you are on a standard tariff, compare gas and electric, and switch to a cheaper online tariff as soon as possible. If you have not or cannot fix your prices, hold fire on the switching as not all the big suppliers have hiked their prices yet. If you switch at the wrong time you could lock yourself into something and still have to suffer the huge price hike heading in your direction.
5. Fixed tariffs
A fixed tariff means that the prices you are paying are locked in for a set period of time, usually around 12 or 18 months. This is great if you have managed to get a suitable fixed price, but if this is still an option open to you, you will need to act fast. The price hikes are leading to cheap fixes being snatched away and only more expensive ones being offered. Although you will be protected from any potential further price increases you could end up paying too much. Make sure you thoroughly compare gas and electricity tariffs before taking any action.
