If you are one of many people asking themselves, how do I compare energy prices, you may think it is a lengthy process. There are upwards of 50 providers with various deals on offer at different times. Comparing them all takes time, and if numbers and tariffs baffle you, the results can be overwhelming. How do I compare the energy market for better energy prices?
The good news is, price comparison websites do all the hard work. Once you enter your postcode, they search all local energy suppliers, present all relevant information to know like electricity prices, find the discount deals and provide a service that means switching over without interruption or hassle is easy. It is wise only to use the best sites, but how do you know which they are?
How Do I Compare Energy Prices?
Only use sites that are Ofgem accredited. Ofgem is a government department that deals with the gas and electricity markets. GEMA, the Gas and Electricity Market Authority, governs them. The role of Ofgem is to protect the interests of gas and electricity customers by supervising the market and promoting sustainability, supply, and value for money.
For a website to become Ofgem accredited, they need to adhere to and follow a code of practice called the Confidence Code. This dictates how sites advertise and operate, and a core criterion is non-biased. Also, they must offer a complaint service for dissatisfied customers to follow.
Comparing Electricity and Gas Prices
For electricity and gas, all of us want to save money, but there are other factors to consider when weighing who will be the best supplier. The cheapest options involve signing a contract for a year that will cap tariffs. This is great for people who struggle to budget, but if you see yourself moving within the next two years, consider it.
Usually, a fixed tariff is the cheapest, but for flexibility, consider the variable tariff where you can switch suppliers at any point. This option suits those who watch market prices and do not mind the extra paperwork of swopping over.
Night owls should look at economic tariffs that offer better unit prices after dark. Environmentally friendly consumers should shop around for green tariffs because the energy supply comes from solar or wind power sources.
These sources are in short supply, so prices are also the highest, but those who want to reduce their carbon footprint can give peace of mind. So, now you have an excellent idea of where to start, let’s look at some of the most popular price comparison websites for comparing energy providers.
Have your postcode and a copy of an existing bill ready, and input them into their price comparison search engine to view tariffs and current deals. Should you get carried away in the moment’s heat, USwitch offers a 14-day cooling-off period to reverse the switch.
They are the UK’s most popular price comparison website and have adhered to the Ofgem confidence code since 2006. Their website says people can save a staggering £479 by using them to switch energy providers. To help decide who to swap to, they also offer a customer satisfaction report to see how each provider performs in meter installation, environmentally friendly options, and customer service.
This website says a staggering 15 million households pay too much for their energy bills. Their free “track your switch” function allows you to see how the process is proceeding from day 1, when they send your application, today, 21 when the switch is completed. They say all switches happen quickly but will take no longer than six weeks.
Reevoo rates their service as 4.5 out of 5, and technophobes who do not want to use the internet will find their customer service phone line to find the best deal. Money supermarket offers the choice to get a quote, compare both gas and electric or just one energy supply.
This website says you can save up to £461 a year for your home, which is a staggering amount. Also rated as 4.5 on Trust Pilot, to start, enter your postcode. They also have a helpful bank of articles to get acquainted with the market. Topics include saving tips and comparing energy tariffs and tips to match yourself with the right deal because the cheapest isn’t always the best for your lifestyle preferences and usage. Operating since 2002, they also have a customer helpline so you can switch over the telephone.
Need to Know
When knowing how do I compare energy prices, these comparison websites are a magnificent tool. The service is free to use because they receive a small commission from energy suppliers for each new customer signing up. This does not impact consumer rights, and they must still adhere to the Ofgem Confidence Code.