There are numerous electrical companies within the United Kingdom and all of them will operate under the same basic principle. They distribute power to residential and commercial properties through the use of an electrical grid. This energy is measured in terms of kilowatt hours (kWh). The customer will need to make monthly payments and the majority of plans are under contractual agreement for one year. Of course, the consumer will have the ability to switch providers if appropriate.

Provider Contract Name Price Promise Average Cost
LoCO2 Energy Pocket Fixed Fixed For 12 Months £477.00 More info
nPower Price Fix April 2018 Fixed Until April 2018 £448.00 More info
Ovo Energy Better Energy Fixed Fixed For 12 Months £483.00 More info
The Co-operative Energy Fixed April 2018 Fixed Until April 2018 £476.00 More info
First Utility iSave Fixed March 2018 Electricity only Fixed Until March 2018 £452.00 More info

Types of Plans

The types of options available will primarily depend upon one’s location, as different suppliers will supply different parts of the country. Most plans will either provide fixed or variables tariffs. Still, the fixed tariffs will normally be locked in place for a certain amount of time after the contract is signed; generally between twelve and twenty-four months.

Other variables include emergency customer service and the ability to manage one’s bills online. One of the benefits that larger companies provide is to bundle packages together. It is quite common for gas and electricity to be supplied from the same organisation. This can save the consumer a substantial amount of money over time.

Factors to Take Into Account

There are numerous ways to find the best plan while simultaneously lowering one’s energy bills. Recall that fixed and variable tariffs are one of the most critical concerns. A fixed tariff essentially “caps” the amount of money that one will expect to pay. A variable tariff can fluctuate and while the prices may go down, they can also rise. This is offset by the fact that this option is generally cheaper from a fixed rate.

Many companies incorporate what is known as a “standing charge”. In essence, this signifies that rates will drop after the customer has used a specific amount of electricity. So, determining how much power is consumed will have a direct impact on the ability to lower one’s rates. The best way to understand overall energy consumption is to look at an annual statement.

How to Get the Best Deal

Comparison websites are excellent at perusing all of the relevant providers and viewing a side-by-side analysis of the services that are offered. These portals will also display what one can expect to be billed per year. Other actions that will help one encounter the best plan can include:

  • Looking for a company that offers reduced tariffs during off-peak hours of the day.
  • Combining gas and electrical services.
  • Determining the exact billing rate for the kilowatts that are consumed per hour.

Thankfully, there are a number of energy suppliers throughout the United Kingdom. Paying attention to these tips and tricks will enable one to find the best plans on the market.