The energy supply market was deregulated in 1999 and since then millions of people across the UK have benefited from cheaper bills by switching their gas or electricity supplier. There are lots of different deals available to suit different domestic consumption habits, so you can pick and choose the package that offers you the best value for money. For example, people who don’t use much energy – perhaps individuals living alone – may find it cheaper to opt for a package with no standing charge (which charges a higher price per unit). Often money can be saved by taking both gas and electricity from the same supplier (often referred to as ‘dual fuel’ supply). Alternatively, some companies offer deals such as fixed or capped rates for a specified period, just like mortgage rates. As the energy market is prone to price fluctuations, this could save you money. A fixed rate is one that stays the same no matter what the price increases are, so if there is a price rise above your agreed fixed rate you’ll save money, but on the other hand if the price of energy drops below your fixed rate you’ll lose out. A capped rate is one that may fluctuate but will not go above a certain price. If you’ve never changed supplier, you’re likely to benefit from a significant saving on your first switch. However, don’t just stick to the same supplier once you’ve made the move. They all change their deals frequently so by shopping around every so often you can ensure that you’re always getting the best deal. It’s so easy to switch that saving money on energy is really no hassle. To switch, simply look around for a better deal. There are some helpful and informative websites that allow you to compare the latest deals from a variety of suppliers and can take care of the switch on your behalf, often without a fee – such as www.uswitch.com or www.simplyswitch.com. If you’re doing it yourself, just contact your chosen new supplier and your current supplier to inform them and give them your meter readings, and you’ll receive your final bill from your current supplier. If you have a direct debit with your current supplier, remember to cancel it after you have settled the final bill. Most suppliers require you to give at least 28 days’ notice of cancellation, but very few will charge a cancellation fee (unless, for example, you have signed up for a fixed or capped rate package and are pulling out before the end of the specified period). If you’re in debt to your current supplier, you’ll need to clear any outstanding bills before you’ll be able to change. The change will be seamless – there will be no interruption in your supply as the same infrastructure (pipes, meters, wires, etc) is used. You’ll simply receive a final bill from your current supplier, followed in the next bill period by a bill from your new supplier. Money-saving isn’t the only reason for switching, though. Many people change supplier for better customer service, or for environmental reasons. Some energy companies use renewable sources of energy such as wind farms or hydroelectric power, and some have schemes in which your bill contributes towards the funding of environmental projects such as the planting of trees. Energy generated from renewable sources isn’t currently available in all parts of the country (only about 4% of the National Grid’s energy supply comes from green sources), so you may not be able to go completely green with your energy supply. However, alternative packages are available in which you receive your energy supply from conventional sources but your energy supplier agrees to contribute a certain amount of energy made from renewable sources to the National Grid on your behalf depending on your consumption. Getting the cheapest deal isn’t the only way to save money though. You can cut down your energy use and do your bit for the environment at the same time by making your house more fuel-efficient. Insufficient insulation is where most houses lose energy unnecessarily. Check that your loft is well insulated, to a depth of at least 250 mm. If you have cavity walls, have them insulated too, as well as your pipes and hot water tank. And seal any nooks and crannies such as gaps in draughty windows, doors, floorboards and letterboxes. Changing your habits at home can also make a big difference. Keep doors and windows closed to retain the heat. Switch off the lights when you leave a room. Don’t leave electrical equipment such as TVs or hi-fis on standby when not in use – switch them off fully. Boil just as much water as you need to in the kettle. Only put on the washing machine or dishwasher when you have a full load. Have your curtains lined and keep them drawn at night. Even wear a cosy jumper around the house during the winter! Changing your supplier should be straightforward and hassle-free. If you have any problems, though, or if you have a complaint that you have not managed to resolve with your supplier directly, then contact Energywatch (www.energywatch.org.uk), the independent energy watchdog representing consumers, or OFGEM (www.ofgem.gov.uk), the government regulatory body that was set up when the market was deregulated in 1999 to ensure that energy companies are run fairly and effectively and that consumers get the best value for money in a competitive market.
Source: http://www.ArticlePros.com/author.php?Benedict Rohan
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