Last Updated on October 21, 2020
When it comes to your energy bills, it can be easy to forget about your account or put off switching. What happens as a result? You pay the same price every month after month. Year after year.
I get it. It can be overwhelming to keep up with all the bills you have. But if you’re looking to save money and get cheap energy, then check out these top tips to transform your energy bill and put more cash back in your pocket!
Switching your energy bill provider
Switching your energy provider now could save you a lot of money in the future! Using an energy comparison site such as Switch My Energy will help you compare hundreds of energy providers at one go.
Once you have filled in a quick form with the information they need, they’ll show you a list of providers and their prices. You can then choose the cheapest or the price you want to pay. Easy!
Take advantage of offers
As you know, I love a good deal! So many offers are available to help you save money on cheap energy. Refer-a-friend rewards are a popular option, as it’s easy to share a link with friends and family and get rewarded quickly.
Many providers also offer money-off deals, gift cards, or cashback deals for new customers. Don’t just be tempted by these, though! Always check the new price works for you and is the cheapest and most affordable option.
Which type of tariff is best?
With energy, two basic tariff options are available: fixed and variable. The fixed tariff is a fixed one-year deal. You pay the same price no matter what price your kilowatt is.
Whereas a variable tariff is where the price can change every time your provider changes their rates. Companies like to compete for customers’ money; this is why most tariffs are attractively priced.
Each has its benefits but it all depends what works for you and your budget.
Opting for a smart meter tariff
Smart meter tariffs are becoming more popular for its great traffic designs. They take readings every half an hour to offer the best tariff to match your lifestyle or when electricity is cheap for the supplier to buy.
The smart meter also shows you how much your energy costs you and shows you when you have used more power on certain days. It’s also pretty interesting to watch when you’re boiling the kettle or making a round of toast!
Avoiding exit fees
There might be a time when you need to exit your tariff that can follow with hefty fees. The good news? Not all fixed deals come hand in hand with exit fees.
When you choose your energy bill, read the terms and conditions to see whether you are protected from these fees. Sometimes you can pay a little extra and have protection for this but weigh up whether it’s worth the extra cost.
Note that your supplier cannot charge exit fees if you switched in the last forty-nine days of your fixed tariff. Switching between the tariffs while staying with the same provider can often avoid the exit fees. However, if you do get caught out with exit fees, it can be between five to thirty pounds per fuel.
It’s definitely worth calculating whether it is better off for you to wait out the tariff or pay the exit fees.
Pin for later…
This is a collaborative post