New tariffs come on to the market every month, and the range of suppliers extends far beyond just the ‘Big Six’, meaning more choice and more savings to be had.
How much could I save by comparing energy prices?
According to the energy market regulator, Ofgem, around 60% of UK households are on a standard variable rate (SVR) tariff. That means they’re on the most expensive type of tariff, regardless of which supplier they’re with.
If you’re on your supplier’s SVR, you could switch to a fixed rate deal and save over £200 a year on your energy bill. But of course, how much you could personally save all depends on your home’s energy consumption, and the best way to find out how much you could be saving is to compare deals.
How do I compare energy prices?
Comparing energy prices is a simple process, and only takes a few minutes.
1. To start, grab your most recent energy bill – we’ll need:
- Your postcode
- Current tariff name
- Current supplier
By entering this information, we can then show you alternative, cheaper tariffs. Don’t worry if you can’t pay your hands on a recent bill – we can give you an approximate level of saving using your postcode and the type of property you live in.
2. You’ll have a few more questions to answer, such as your property type (terraced, semi-detached, flat, etc), how many people live there, and when people are typically at home. Once you’ve answered these, you’ll be presented with a list of tariffs in price order.
3. Once you’ve found yourself a better deal, you can select ‘proceed’ and start the switching process in just a few more clicks.
4. The actual switch will take up to 21 days, and the energy firm you’re switching to will handle the admin side of the process – all you’ll need to do is provide meter readings when asked. There’ll be no work done at your property, inside or out, and there’ll be no interruption to your supply.
Business energy savings
It’s not just households that could save money by switching energy suppliers. Many businesses are on what’s known as ‘rolling contracts’ – while this can save you time and stress, often your supplier will place you on a more expensive tariff, which means you might be paying more than you have to for energy. But with MoneySuperMarket all you need to do is give a few details about your business energy usage and location and you’ll be able to find a better deal.