Compare Energy Prices - Lower your Electricity Energy Bills

19/08/2016 /
by
Electric Radiator Solutions Team

Despite the warm summer and energy bills being at the back of people’s minds, over 300,000 people switched electricity supplier in July. So far this year, over two and a half million (2,658,437) people have switched, this compares to just over 2m (2,069,665) over the same period in 2015.

Nearly 42% (41.6%) of switches were from a large supplier to another large supplier.

The net percentage of customers switching to smaller suppliers increased from the previous month. In July 2016 a net gain of almost 23% switched to smaller suppliers from larger ones. This compares to 19% in June.

Almost 70% of people are on one the big six suppliers ‘standard tariffs’. If this is you then you are paying over £300 more than you could be for your energy.

There are now over 40 different suppliers to choose from. It is all the same electricity, just somebody different sending you the bill.

Customers should treat their electricity bill similar to their car insurance, get on a deal for a year, and switch every year.

Understanding your electricity bill

There are two main parts to your electric bill:

Standing charge: This is a daily rate in pence to help cover your suppliers fixed costs – this is normal and could be around 10 – 20p per day. This could work out roughly £30 - £70 per year.

Day Rate: This is the most important part of the bill. This is the cost you pay per unit (Kwh) for your electric. This is where the big saving can be made. For example:

13p per unit x 10,000 units per year = £1300 annual bill

10p per unit x 10,000 units per year = £1000 annual bill.

Saving of £300 per year.

When comparing ALWAYS find out the day rate – the price per Kwh. Use this for your comparison. Electricity companies sometimes hide this information.

Other ways to save on your bill

Pay by direct debit. Suppliers will give a better rate if you pay by direct debit.

Paperless billing. Savings can be made by going paperless.

Save without switching. If the thought of switching gives you a headache, you can save by making sure you are on your supplier’s cheapest tariff.

 

Switching suppliers

For information on switching energy supplier visit: http://www.goenergyshopping.co.uk/

Other ways to save on energy bills:

Insulation

From simple draught excluders to loft and cavity wall insulation. Insulating your home can seriously reduce your energy bills

Use less energy with energy efficient electric radiators

Great strides have been made with electric heating over recent years. Modern electric radiators made from cast aluminium have thermostats and programmers to easily control and reduce energy usage. Electric heating can be more cost effective than other forms such as Oil or LPG for those off the gas grid.

As the UK moves away from traditional fossil fuels to more secure low carbon heating, electric is increasingly becoming an environmentally friendly option. Electricity can be produced from renewable sources such as solar or wind, making energy efficient electric radiators an eco-friendly heating solution.

At Electric Radiator Solutions we are dedicated to producing the most energy efficient electric radiators for customers throughout the UK. Having the best heating system installed in your home means you will not only benefit from the latest in heating technology but also lower your energy bills. We are happy to offer help and advice in order to assist our customers in finding the best energy suppliers for their needs, contact our friendly team today.