Best Energy Tariffs in the UK
There’s a lot of talk about the best energy tariffs in the UK, but what exactly does that mean? You have the power to choose from the many options available, so it’s important to shop around to find the best deal for you. Here are the top three energy suppliers to compare and get the best deal for you. This is Money has compiled a list of the most competitive deals and explained why they’re the best in the UK.
Fixed tariffs allow you to lock in a price for a specific period.
These deals are often one to two years long, and suppliers will often offer cheaper prices if you sign up for a long period. You can also choose a dual-fuel fixed tariff if you have a boiler or electric car. Some energy providers will even include extras, such as boiler insurance if you purchase a new boiler.
Standard variable tariffs track the market rate for energy.
In the event of a change in the market, suppliers must give you at least 30 days’ notice, and you can switch at no extra cost. However, these tariffs are not recommended for everyone, as they’re prone to fluctuations in the market. This is why a lot of people haven’t switched for years and are stuck on them. If you’re worried about the cost of energy, consider switching to a fixed tariff instead.
Some suppliers offer flexible fixed rates
that are suitable for the UK market, allowing you to decide what suits you best. If you’re unsure of the best deal for you, try switching to a variable tariff. This will save you money over time because you’ll be locked into a low-cost plan for as long as you stay with them. Some suppliers even give you extras, such as boiler insurance. A good way to compare the best energy tariffs is to use a comparison website.
Another way to compare the different energy tariffs
is to compare them. Some suppliers are more flexible than others. Some of the best deals are based on the type of energy you need and the amount of money you’d save if you switched. You should compare prices and benefits and choose the one that’s right for you. While it might be easier to buy a cheaper fixed rate, it’s important to check what the monthly price will be like for the company you’re currently with.
The best energy tariffs may differ by location.
For example, the East Midlands has the cheapest average electricity prices in the country, while the North of Scotland has the highest average prices. Typically, the best energy tariffs are evergreen, meaning they have no end date. These are the most expensive types of energy tariffs and are subject to changes in wholesale energy costs. There are other factors to consider as well, including how the prices change between different regions of the UK.