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All You Need to Know About Comparing Energy Rates

Fun fact: did you know there are now 37 energy providers in the UK? Compared to other countries where energy is managed and distributed by a monopoly of major companies, the UK allows private business owners to take over the energy supply.

Deregulation & Energy Rates

The specific act that paves the way for more energy suppliers is the country Energy deregulation Act.

That way, energy consumers would not have a hard time looking at and processing business energy applications.

The consumers could keep their preference since domestic energy suppliers are still in effect. The difference comes with the rate the consumer has to pay.

Private business energy companies offer different services than national or domestic energy suppliers.

Their services include supply, delivery, customer service, and varied prices. Going over the many providers can be overwhelming as a business owner. So most owners use business energy comparison websites to help them sort these out.

See comparisons before signing contracts.

Comparing the business energy suppliers in your online directories would help you land an effective and efficient supplier.

You find the one that matches your needs, so consider checking them out.

Learn more benefits and how you can successfully compare energy rates below:

1. Compare more in less time

Using an energy comparison site provides your business with easy access to prices of UK energy suppliers. You’ll be able to have the information you need in a shorter period compared to going through the suppliers one by one.

2. Save more money

An energy comparison website will make finding and switching to the cheapest supplier easier, saving you up to 37% in expenses. In addition, being in charge of your electricity supply and knowing the exact cost of electricity you’re consuming builds up your financial discipline.

3. Opportunity to Go Green

As more suppliers compete for your business, some offer free environment-friendly options. That means you have a chance to save on electricity and get green renewable energy at no extra cost.

4. Take advantage of Special Supplier Relationships

Most comparison websites have significant relationships with some suppliers and may get you special deals. This will help you save more in the long run.

5. Get Experts Advice

Aside from comparing prices, you will also have the opportunity to consult with professionals to get the best out of your contract. Remember, legit comparison websites will have your best interest at heart. They will not force you to sign with a supplier you’re not comfortable with.

Things to consider when comparing

Choosing the right provider for you will be easier with an energy comparison website. On the other hand, it is still best to know the things you should consider so you can think more about them beforehand.

Be guided with the list below.

1. The kind of plan you want

Energy providers offer a selection of plans for their consumers. This will entail the bill you’ll be paying and the service you’ll receive.

Some kinds of them are fixed-rate plans that will tell you exactly how much you’ll pay monthly. There are also variable rate plans that can aim for low prices when the market improves. However, this can be a gamble due to its instability.

The length of each plan may vary and affect the plan’s price. You can save costs with long-term plans if you plan to stay for a while.

Then, you can opt for short-term plans if you’re moving soon or if you’re not yet sure of the deal you want to lock.

2. Customer Reviews

Take the time to look at the online reviews and what customers say about their experience with each specific supplier. It will give you insight into how the company delivers their promises and treats its customers. It will help you avoid providers with bad services.

3. Rewards and Incentives

Remember that the provider with the lowest price is not always the best. Sometimes energy plans can have rewards or incentives for paying a few extra cents per kWh. You can discuss this with a helper from an energy comparison website to compare the bonuses of various companies.

4. The Fine Print

Always read the fine print. Some providers will try to tempt you with a special promotional rate only to increase that rate in the future. Get the actual rate and payment length stipulated in the contract before signing it.

Suppose you take the time to review these various considerations and make a side-by-side comparison. You can walk away confidently, knowing you have found the right plan. Discussing this with an expert will be best if you want to save time in researching.

Ten Best-rated Energy Suppliers

Meanwhile, narrow down your list by taking a quick look at the ten best-rated energy suppliers in the country.

1. Octopus Energy

Octopus Energy has been number one from the beginning. They successfully kept customers happy while growing from a techy start-up to an established brand supplying energy to 5% of homes in Britain.

2. Ovo Energy

Ovo invests in smart technology and services, including making smart electric heaters and selling home energy storage devices. They have created a new green tariff for owners of electric cars, allowing owners to charge their vehicle at a flat rate of 5p/kWh regardless of the time they are charging.

3. So Energy

They only sell 100% renewable electricity tariffs and gives customers a choice in where it sources electricity. To vote for wind, solar, hydro or biomass on So Energy’s website, you can participate in their online poll.

4. Utility Warehouse

They sell mobile, home phone, broadband and home insurance contracts besides gas and electricity. It is usually bundled into one monthly bill. Customers can benefit from discounts with more services they buy from Utility Warehouse.

5. Boost Energy

They supply traditional and smart prepayment meters. Customers with smart meters can top up with the smartphone app PAYG Smart. They can also use the barcode in the app to top up in the shop and view their spending by checking the top-up history.

6. Utilitia

They are proud of being the UK’s first and only specialist Pay As You Go Smart Energy supplier.

Their app lets customers see their balance, bills and payment history, submit meter readings and change their details. Utilita claims it can save you money. It’s one of the few suppliers with no standing charge, so if you don’t use any energy, you don’t pay anything.

7. Outfox the Market

Outfox the Market provides 100% renewable electricity. Every electricity unit the company takes from the grid is replaced with a unit generated from a renewable source. They claim that every new customer that signs up will make a real and tangible difference to climate change.

8. British Gas

British Gas offers a handful of tariffs, including a future green tariff, which matches your electricity use with renewable sources like UK wind and solar. On the other hand, customers on a fixed rate tariff may be asked to pay an exit fee to leave their contract early.

9. EDF Energy

They took on Green Network Energy, Zog, iSupply Energy and Utility Point customers when the smaller firms stopped trading. None of their tariffs come with 100% renewable electricity, and some of their cheapest deals provide online customer service only.

10. Eon

German company Eon SE owns Eon. They are one of the UK’s largest electricity generators and own power stations, wind farms and biomass plants. They sell solar panels and home batteries. They also install electric vehicle charging points across the country.

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