How do you choose the rights gas and electricity tariff?
When comparing energy deals, you’ll see a range of tariffs including a fixed-price option and a variable option:Fixed-rate tariffs: Possibly more expensive to begin with but prices are fixed for the term duration, protecting you from unexpected price increases.Variable rate tariffs: Possibly less expensive to begin with, and your bill may increase or decrease as the price of energy units change.Other tariffs and options include:Economy 7 tariffs: Usually requiring a special electricity meter which provides two separate readings. One reading is for electricity used during the day, priced higher. The other is for electricity used during off-peak hours at night, priced lower. The off-peak period lasts for seven hours.Economy 10 tariffs: Similar to Economy 7, Economy 10 is a type of energy plan that offers customers cheaper electricity during off-peak hours, usually at night. With this tariff, your energy will cost less during 10 off-peak hours daily.Green energy tariffs: Described as a tariff where some or all the energy generated comes from renewable sources. Many green energy providers will be signed up to the Green Energy Certification Scheme.Collective energy switching: Another great way to save money by accessing deals that aren’t available to the wider market. This is when a large number of people, referred to as a closed group or community, apply their collective purchasing power to negotiate a tariff with energy providers.