How to Make Sure You’re Not Paying Too Much For Your Electricity
With rising energy costs, it makes sense to stay on top of your bills and make all of the savings that you can. It is important to be vigilant with your energy use so switching off lights, making efficient use of appliances such as dishwashers and washing machines, insulating your home and making sure that technology is not left on standby all make sense and the overall saving on electricity can in turn reduce your annual bill. Did you know that old appliances are less energy efficient than the newer models and poorly maintained appliances can use more in the way of electricity. It is important to do your homework if you want to be as cost efficient as possible.
If you have been with the one supplier for many years, there will be a good chance that you will be on a higher tariff for your electricity. For savings, you should switch tariffs regularly and shop around each time you do that. Use the comparison sites but don’t jump at the first offer you see and choose a supplier that provides billing and support in the way that you prefer. Some will offer online only support, some will offer online accounts and some will offer telephone support. Most suppliers will fix you to a contracted amount of time. Make sure that you are aware of their terms and conditions and ask for the exit penalties, if any, should you decide to move from their service before the end of the fixed term. Read the online reviews to obtain an overall picture of how happy others have been with the service they have received from the supplier that you are considering.
Providers will usually allow you to make savings if they can supply both your electricity and your gas so it is worth making sure that you consider that as an option. Further savings can often be made if you opt to pay by their favoured payment method which is usually a monthly direct debit payment from your bank.
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By making sure that you provide accurate meter readings on time, it will avoid the provider having to estimate your bills. If your bills are estimated, it is often the case that consumption is overestimated and the the provider will then adjust your monthly payments to cover the extra amount, so that strictly speaking, you can end up paying for your electricity well in advance of your use.
Some of the energy companies charge exit fees so if you sign up with them for a fixed term, be aware that the exit fees if chargeable can add to the cost of your electricity, so, if switching, it may be a cost saving option to wait until the end of the fixed term.
Remember that your electricity provider is regulated so don’t be afraid to call them to question your bill and if your question or complaint is unresolved, you can then take the matter to their regulator.