Switching Gas and Electric: A How to Guide

We all know money doesn’t grow on trees, so branch out and find the cheapest energy supplier for you. Comparing the best gas and electric providers is a difficult task because of the large number of energy suppliers in the UK. With each supplier offering lucrative packages to attract customers at the same time as competing in the UK energy market you may find it a gruelling task. But with many options available you are guaranteed to find the best deal for you with minimum costs and maximum efficiency.

Is it time to switch?

When it comes to changing your gas and electric timing is crucial. If you switch when prices are moving you can often end up jumping to a supplier that turns out to be the most expensive. The worst moment is when a major energy provider, such as British Gas or Npower, has just announced a cut or rise in prices so keep track on when the movements are taking place.

Energy providers are like a herd, as soon as one company announces a price change, within a month or so all the others tend to follow suit. This results in an uneven playing field if you want to compare the market during a price flux. When prices are rising, you may shift to a company only to see its prices jump up the next day. It’s slightly less important with dropping prices, but even then you may end up leaving a company that drops its prices and becomes cheapest.

Best Gas & Electricity Providers:

There are six major gas and electricity suppliers in the UK. These are British gas, EDF energy, EON, Npower, Scottish and Southern energy and Scottish power. These are considered the best gas and electric providers in the UK.

There are two important factors which play a vital role in deciding the most effective switching of suppliers. First is the comparison between energy suppliers, which many websites provide information about. These websites also give comparisons between them to help users get the best deal. The Second factor is the correct timing of switching suppliers. Switching does not give same results all the time and it is also not very easy to make predictions about the energy prices. However, knowledge of certain trends provides a good idea for the correct time to switch.

More ways to save:

As well as switching to a cheaper provider there are a variety of other ways to help cut the costs. You should be aware that duel fuel isn’t always cheaper; the thought pattern of having your gas and electric from the same supplier would assume that it would always be cheaper, this isn’t so. During your comparison, also compare the cost of the cheapest dual fuel supplier with separate cheap gas and cheap electricity suppliers.

A money saving solution may be switching to a monthly direct debit that incorporates fixed monthly direct debit payments, where you pay a fixed estimate each month. Opting for this choice you may find you can save up to 10% due to companies assuming you won’t default.

Amongst the more intricate money saving ideas you can make small changes around in your home, which don’t involve much effort, just extra thinking. Things to consider are turning down the thermostat, turning lights off when leaving rooms, using energy saving light bulbs, defrost the fridge and check it’s not too high and finally turn all electrical goods off not left on standby.

For a brighter future without the added cost bear in mind the changing energy markets, take full advantage of the competitive nature of the industry and find the best deal for you.