Tips on finding the cheapest energy supplier
Many people who actually move house could very well be as well or even better off improving their current house to their needs. Often a slight renovation project or new extension is easier to realise than an entire move of home. One of the aspects that you can make to decrease your living costs of your current home immediately is by finding the cheapest energy supplier. On this page you can, have a look at the cheapest energy suppliers, because especially if you just moved to your new place, it can often be beneficial to change energy suppliers.
You might still be at the same supplier that your previous owner was on, which might not be the cheapest option anymore. There are a few important factors to consider when considering changing supplier.
Important factors to consider
There is no universal cheapest supplier. The cheapest energy plan that you can get will actually depend on your personal situations. Things such as when you actually use your energy, where you live etc. can make a difference. We have prepared for you a basic checklist and what entails each point under the same:
Contract Type
There are several types of contracts you can take at different suppliers. The most universal are fixed contracts, variable contracts, prepayment contracts and Economic 7 contracts. For different types of contracts, the lowest price would be different for each supplier and it is not the case that the supplier with the cheapest fixed rate will also have the cheapest variable rate. In general, fixed rates tend to be slightly cheaper, with these fixed rates, your price remains the same for the entire contract, whereas for variable rates, your prices can be updated daily because of market fluctuations.
Sustainability
Another factor to consider is how important sustainable energy is for you. If you really find green energy to be important, the cheapest plan available for you might be different than when you don’t care about the fuel mix of your supplier. The prices might also differ substantially between these plans, so do not carelessly take the cheapest rate but actually research what type of energy the company offers.
The actual comparison
You could in theory do all the comparisons yourself by requesting rates at different suppliers. However, this is most of the time a lot of work where you would have to go to each website yourself and fill in some kind of form. Energy comparison websites an often help you to make the process easier. Also the ‘My Utility Guide’, which is issued by Ofgem is a great tool to help you in the process of finding the cheapest energy supplier.