How to compare energy prices ...
By switching your energy supplier you could save an average of £100 per year according to Ofgem.
In fact, the difference between the most expensive and the cheapest energy company could be as much as £200 per year.
Such significant savings are only possible because the UK energy market has experienced massive price inflation since 2005 which is likely to continue for the foreseeable future. However, there are steps you can take to reduce the energy you use and the price you pay for it now and in the future.
What can you do to avoid energy price rises?
The energy market is very volatile at present with price increases being announced just about every quarter. These unprecedented hikes are being caused by pressure on the wholesale market which, like any market, is driven by supply and demand. The problem with the energy market is that it's supply is shrinking whilst demand is soaring.
So, in the short-term, price inflation is likely to continue until other sources of energy can replace traditional methods of power.
Thankfully, such a vibrant and competitive market means constant pressure on suppliers to retain existing customers and win new ones with special deals and discounts. But, with such a fast changing market, where should you go to discover the best energy company and tariff from the huge choice available?
How to compare energy prices and tariffs
Finding the cheapest energy supplier from the entire market is completely free and only takes a few minutes. You can choose separate companies to supply your gas and electricity, or you can choose one company to supply both which may qualify you for an extra discount.
The first step is to calculate how much you are currently paying for your energy each year by looking at your last four quarterly bills. Armed with this information, visit at least three of the following price comparison web sites and enter your details. The results will be displayed within seconds and will show the cheapest energy companies ranked by how much you can save.
At the time of writing, all of the energy price comparison services below are registered with the Ofgem Confidence Code. For an up to date listing, visit the Ofgem website.
Comparing customer service
Many of the comparison sites above only compare price and do not give an indication of service standards. For service record statistics, please visit the Ofgem site.
Energy Saving Tip: Turning your central heating thermostat down by just 1 degree can save up to 10% on your fuel bills.