Will Switching Energy Suppliers Help You Save Money?

Electricity and gas have become a necessity of modern living. Sure, there are persons who decide to live off-grid, who essentially unplug from commercial providers and rely on more natural means of generating energy. This is very commendable but not practical for many people and families. As a result, for many, it comes down to shopping around for the best energy supplier and trying to make the best moves to reduce that bill by as much as possible. 

Deregulated Electricity In Australia

If you live in Victoria, Southeast Queensland, Sidney, Adelaide, New South Wales, or generally anywhere in Australia, you’re in luck. Deregulated energy in these regions means there is an increased number of energy suppliers. So if for any reason you are dissatisfied with your current provider, you have options! It can become draining to go from place to place or to search the web trying to find your best option. Understanding all of the different plans can also bring confusion. Good news, you don’t have to sort through this alone. Go on over to Electricity Monster, the free site where you get to compare gas and electricity suppliers, one against the other. They search for and present the most up-to-date deals on the market and make choices that benefit you.

These electricity brokers manage the entire process, from canceling your current electric service, to changing over to the new company and everything in between for free. They guarantee a seamless transition that will result in your home or business never being without power. 

Savings Across The UK

Like Australians, UK citizens have the opportunity to cut down their energy bills drastically. It has come to light, however, that many may only be aware of the big named companies who offer services at higher prices, and not the smaller businesses who are many times not only cheaper to work with but also provide renewable and green energy sources. 

Another issue is that people seem content to stick with what they have because they assume it will be a hassle to change over. False. A short phone call can get you on your way. Opt for a service plan that fits into your life. Look at the size of your family, how often you’re at home, your true needs. Hundreds of pounds can be saved every year with just a bit of investigation. Approximately seven million households have never changed their energy provider and continue to be attached to the standard variable rate tariffs which are comparatively high. 

Pose These Questions To Your Provider

You may also consider asking these to any service provider you are considering. This is by no means an exhaustive list, but it does highlight key points you should clarify. 

• What is the price per kilowatt and is this fixed?
• Does the deal come with a monthly service charge and are any other costs attached?
• Are taxes pre-included in the price?
• Are any discounts available?
• What, if any, are the penalties for a broken contract?

The more you know about the service you have or could potentially have, the better. Be on guard against promotions that seem great at first glance, but become a lot less attractive after said promotion expires. Keep tabs on auto renewal of service. Cancel such a subscription to have more control over your monthly choices. 

There Are No Guarantees

The US consumer report stresses that though some providers provide cheaper deals, there is no guarantee that their prices will remain consistently low throughout the years. That savings will be a wait-and-see situation. Comparing and analyzing sample bills of many companies could also lead you astray if you fail to recognize that all charges are not included. 

Choosing the wrong rate structures can also pigeonhole you. Fixed rates lock in your price meaning that if service costs spike, you’re safe but if they fall, you overpay. Floating rates are calculated based on the wholesale value of electricity. In a volatile market, you cannot predict this value. A hybrid rate option offers a combination of both but still gives no peace of mind. This being the reality, it is no wonder many people second guess their decision to switch or just never bother at all. It is advisable that before changing, you reach out to the Better Business Bureau and scour online through reviews and complaints. These can give you an overall idea of what you may be getting into. 

This decision should be made with caution. While choosing to leave behind your traditional utilities may result in annual savings to make you smile, it still remains a gamble.