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Aug 11

How to save on your energy bills – tips and tricks to find the Best Deal

Reading Time: 3 mins

Household bills can take a toll on you when you don’t apply the best practices to cut costs on your monthly needs. One of the best approaches to cutting monthly bills is to find ways to save money on energy. Your energy bill is probably one of the highest costs you have to deal with especially if you don’t know important tips and tricks to keep it low.

Using the same energy service provider over the years may limit your chance of exploring other affordable options that could save you good money. Instead of taking this approach, switching between providers can help you lower your energy bills every month. You don’t have to stick to the same provider especially when your loyalty is not gaining anything.

If you have been using the same provider, it is time to rethink your strategy and get solutions through other energy providers. Here are important tips to consider to lower your monthly energy bills:

 

  1. Go for the best deals

There are options to choose from in the market. Finding the best deal will go a long way in saving a lot of money throughout the year. Most good deals are affordable green tariffs.

Consider finding cheap energy deals from time to time to save on your energy bills. Search through the internet and compare the available offers to pick the best in terms of price.

 

  1. Go Green to Save Energy Costs

Green tariffs are increasingly flooding the market. You have more opportunities of being friendlier to the environment with your continued consumption of energy! Government directives and measures are most likely to favour those using green tariffs.

Energy vouchers for energy-efficient homes are something that can help you cut your energy bills. You can apply for these grants by the government to save on your monthly expenses.

 

  1. Keep Checking the Energy Price Cap

Be aware of what is happening with the energy price control measures. There is a price cap on fixed-term default tariffs and standard variable tariffs. This information will help you make the right decisions.

There are better deals than the price cap of £1,137 per annum set by Ofgem in 2019. Some suppliers use the price cap as a target instead of the upper limit.

 

  1. Use Fixed Energy Tariffs

Fixed tariffs are cheaper compared to variable tariffs. Typically, the best fixed energy deals are around £150 cheaper than standard variable tariffs. But don’t forget to switch again – otherwise you’ll find yourself on a standard variable rate when the fixed energy contract ends.

If you don’t specify the deal you want, service providers will probably place you on a variable tariff that will turn out costly for you. It is advisable to always ensure that you are on a fixed deal.

 

  1. Make a Smart Switch

Knowing when and how to switch is a great tip to apply. The best decision comes from a thorough comparison of tariff prices. Most importantly, use a site that will help you to find cheaper energy deals.

The best services will show you the available options and the savings to make by switching in between them. Gauge your current energy usage against the available offers to help you make the right switch.

 

  1. Save from your Payment Options

There are many ways to cut your energy bills and that includes asking for money back in warmer months if you are in credit to your energy supplier. Arrangements can be made and that will save you some good money. Use direct debit and online accounts to save a few pounds especially when accumulated over a year.

 

  1. Minimize your Energy Use

Instead of entirely focussing on getting cheaper tariff offers, you can look at better ways to cut down your energy usage. Simple acts of switching off appliances when not in use can significantly reduce your energy consumption.

Use smart thermostats to monitor and cut down your energy usage. For instance, they can help you turn the heat on in certain rooms that you are using at a given time and not in the entire house.

 

Reduce your Energy Bill Today!

You can save a lot from your energy use if you employ the right tricks and tips. This information should help you look for the best deals and reduce your energy usage at home!

 

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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