MoneyMagpie

Aug 24

Save £200: shop around for energy prices

Reading Time: 4 mins

Shop around for energy prices and you could save at least £200.

I’m regularly amazed that people don’t do it.

A new energy survey has shown that 32% of Brits are worried about their energy bill yet 62% have never bothered to shop around for energy prices.

People shop around for a whole range of things, from holidays to gadgets, but almost half of Brits say they don’t do it even though it could save them hundreds. So here’s how to do it!

 

Is energy-shopping too much of a hassle?

Gas hob with pot on it

According to the Ofgem survey, a quarter of us think that shopping around for energy prices will be too much of a hassle and over half are confused by energy tariffs.

However recent reforms have lead to a simpler, clearer and fairer energy market, making it much easier than before to find the best energy deal.

  • There are now just four core tariffs for gas and electricity and just two cash discounts allowed.
  • There is also, now, only one pricing structure, made up of a standing charge, plus a unit rate.
  • Your energy supplier has to tell you which of their tariffs is cheaper for you as well as providing personal projections of your likely energy costs over the next 12 months
  • Plus, there will be tougher standards of conduct so energy suppliers have to treat you in an honest, fair and transparent way.

Also, there are loads of energy comparison sites out there helping you to save money really quickly.

Use our excellent energy comparison site here to shop around for energy prices and save hundreds NOW

 

Goenergyshopping.co.uk gives you all the information

Home boiler dials

Also, as part of the ‘Be An Energy Shopper’ campaign, a new website has been launched – www.goenergyshopping.co.uk – to help overcome the confusion associated with comparing energy tariffs and to help people shop around for their energy.

It gives you all the information you need to shop around for energy prices and find the best tariff. If you combine this saving with the savings you could make from insulating your home, you could be on to a winner.

Take a look at that site and then use our comparison site here to actually save the money.

 

Why not shop around for gas and electricity?

Little girl pressing light switch

When you think about it, we’re getting better and better at shopping around for all kinds of things from holidays to shoes to tins of beans so it’s about time we got into shopping around for energy prices.

After all, you’re not going to get a lower quality of gas and you can’t pay extra for designer electricity!

So you won’t get less energy just because you have paid less for it.

You can switch energy suppliers in around ten minutes through our comparison page here. It’s run by UKPower. Try it out!

It should also help you avoid the fuel poverty trap.

 

How to cut energy costs in other ways

You can cut, on average, around £200 a year off your energy bills by switching, but you can certainly save even more money in other ways

 

Insulate your house

Man installing home insulation

Insulating your house can save hundreds of pounds each year.

Up to a third of the heat lost in your home escapes through walls.

Cavity insulation can reduce this dramatically and could save you over £100 a year.

Other ways to insulate include

  • double glazing, loft insulation,
  • hot water tank insulation,
  • floor insulation
  • and draught-proofing your house.

For more information on insulating your house read our guide here.

Some of this may prove costly in the short term but there are government grants available for those who can’t afford to do it.

Some grants are only available to people on certain benefits whilst others are available to everybody. In the long term.

Check our article here about green grants from the Government and how to get them.

 

other ways to save on energy bills

Woman taking a shower

Other simple ways to save include

  • Using energy saving light bulbs
  • Having showers instead of baths
  • Doing winter things in summer, when prices are usually cheaper, as well as working to prevent further costly problems during the winter
  • Things to do during the summer include having your boiler serviced or replaced, cleaning your gutters, checking your pipes, filling in any path and driveway cracks, and sweeping your chimney. For more information on saving money by doing winter things in summer look at our article here.
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Bridget
Bridget

A great way is to be proactive with your energy contracts, especially for your business.

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