How much can I realistically save on gas and electricity?

We’ve all the heard the hype about how you could save money on energy bills by comparing the market and making the switch but exactly how much could you save? Is it worth it and are we talking pennies or pounds? Because let’s face it, not many of us would think it worth our while switching for 50p but £50, £100 – or even more? Here’s what you should know.

 

Helping you save money

Helping you save a few quid here and there is what makes us tick, it’s why we do what we do. And in the first four months of 2016, we saved our customers more than £34 million in energy costs. But what does that mean for the average person?

According to our data from August 2017 we found that the UK average available variable tariff is around £1,142 per year**. Surely that’s worth comparing and switching for?

Once I’ve made savings, how can I maximise them?

Basically, it’s about spending whatever you’ve saved wisely. Your energy bills are based on what tariff you’re on and how much gas or electricity you use – the more efficient your appliances are, for example, your heating and water, the less energy they’ll use when they’re on. So if you’ve made some decent savings by switching, then consider upgrading any old appliances for more energy efficient ones (it could save you even more in the long run).

Maximising savings also means you’ll need to be aware of how much energy you’re using because this can help you readjust how you think about energy use. For example, just turning down your central heating by 1° could save you around £85-£90 a year according to the Energy Saving Trust. Click here for more tips on how to be more energy efficient.

How much can I realistically save on gas and electricity?

How can I make sure I get the cheapest deal in the first place?

One of the ways that you can stay ahead of the game is to always compare the market. All you need to do is take your most recent bill and answer a few questions such as who currently supplies you, what tariff you’re on and whether you want gas, electricity or both. We’ll then do the searching for you and you can decide to switch based on what you find.

whats the right energy tariff for me?

What’s the right tariff for me?

It depends on what’s important to you. If price isn’t so much of a concern but maximum flexibility is, then consider a variable tariff – this is usually a supplier’s default tariff and while prices may not be the cheapest, there isn’t an exit fee if you decide to go elsewhere.

If price is all that matters to you, then online tariffs tend to be the best deals. This means all your account management and correspondence will be done online.

If you’re somewhere in between, and price is important but you also like dealing with real people and filing away real bills, then standard fixed tariffs are the middle ground. With both online and fixed tariffs you’ll need to be aware of any exit fees though if you decide to leave before your contract ends. Have you thought about economy 7 or 10 meters?

If you’re concerned about the environment then you can opt for green tariffs, some of the smaller, independent companies supply only renewable energy or some providers may contribute to environmental projects instead.

You can also get ‘time of use’ tariffs which will give you a certain amount of cheaper ‘off peak’ energy at particular times (usually at night or early morning). These could work if you end up doing all your chores at night or if you’re super organised and remember to switch the timer on the washing machine on.

 Compare, switch and save

Until you start comparing, you won’t know what you could save so why not comparethemarket right now?