Electricity and gas prices vary across the UK, which means a cheap deal advertised in the media may not be available everywhere. The best way to find the cheapest prices on gas and electricity is to do an energy price comparison. According to Energyhelpline, an energy comparison service, there is an £80 annual energy cost difference between the least and most expensive regions in the UK.
Even more shocking is the fact that energy bills tend to be more expensive in the North West, where the cost of living is lower.
British Gas is the default supplier of gas to Wales, England, and Scotland and it charges different amounts in different regions. In fact, almost all energy suppliers in the UK charge a different price. This makes it difficult for consumers to find the cheapest gas and electricity prices. This is further complicated by basing charges on how the energy bill is paid. Two consumers with the same supplier may pay different rates simply because they structure their bill payment differently.
Comparing Tariffs Online Makes Sense
An energy price comparison site includes gas and electric rates for each region and each method of payment. These rates are loaded into a cost calculator that a consumer uses to compare gas and electricity rates available in the local area. The comparison tool makes it easy for consumers to find the cheapest gas and electricity prices. All the information is available in one place so there is no need to make multiple phone calls or visit the website of each supplier.
Energy prices begin to rise when the weather turns colder. Consumers switching to lower gas and electricity tariffs now will save money throughout the winter season. Using an energy price comparison site, they can get price quotes customized for their postcodes and their typical energy usage. If they find a lower tariff than what they are currently paying, they can switch suppliers online in just a few minutes.
Wholesale prices, distribution costs, and tax and duty increases affect energy prices and are constantly changing. Fixed or capped tariff options are designed for consumers who want protection against energy price fluctuations. A fixed tariff guarantees that the energy unit rate will remain the same for a predefined period.
It may sound appealing but the price can be 20 percent higher than the cheapest rates. Also, during the contract period, the consumer will not be entitled to price reductions made by suppliers.
A capped tariff provides a guarantee that prices will not increase above a stated level. In addition, if the electricity or gas price declines, the consumer will receive the lower rate. The defined capped rate period varies by tariff and supplier. The rate is also usually higher than the lowest tariff available from a selected provider.
Getting the lowest gas and electricity rates can save consumers hundreds of pounds. Finding the best prices is easy when a price comparison service is used. Consumers receive quotes based on their past usage, location, and payment method so they know they are receiving the best deal possible based on their profile.