Electricity is a staple commodity for every household. Many countries have various electric service subsidization strategies. For this reason, you won’t have to break the bank in keeping up with your electric bill. However, several factors come to play before a utility company serves you your next bill. Understanding these factors can help make the best choice out of the various offerings on the market today. Here are some tips to help you find the best pricing for your home electricity.
Go comparison shopping first.
Price comparison websites are the most effective way to assess electric providers and compare electricity tariffs and services. Some of these websites display a wide range of tariffs from partnered suppliers to aid the switching process. If you find any deal which the price comparison website can’t switch directly, you can check directly with the electric supplier for any further details.
Consider energy auto-switching services.
Automatic switching services take time to understand your electric needs. That way, they can keep searching for an electricity plan and provider that best fits. These energy auto-switching services can save you the hassle of jumping from one website to the other, hunting for the best electric rates.
Before opting for an auto-switching service, it helps to check the contract terms and partnered energy suppliers. Understanding whether the auto-switching company is a paid or free service can also be another consideration worth checking. Companies with subscription fees may feature cheaper deals than others limited to specific energy providers.
Switch to a different energy provider.
Don’t think what’s on a provider’s website is all they have. Some companies may not sell their cheapest packages on their website for several reasons. Some providers may want to use it as bait for new customers from referral schemes. Often, these deals are exclusive products of third-party partnerships with auto-switching or price comparison service providers. A quick phone call to the company will offer all the clarity you need.
Avoid exit fees as much as possible.
Some companies may include specific terms in their contract, reducing motivation if you need to jump ship. Some fixed deals come with exit fees. But that can’t be enough reason to put up with overly expensive services. There are other ways to avoid exit fees when switching. If you switch in the last 49 days of your fixed tariff, your supplier can’t charge an exit fee. You can also ask if exit fees apply for users who switch tariffs but stay with the same provider.
Use “refer-a-friend” deals.
According to an energy consumption survey, 10 percent of about 8,000 respondents revealed they receive financial incentives after recommending services to others. Consumers see it as an easy money avenue for putting friends on a satisfying service. For these companies, it’s nothing short of a good marketing strategy. So, they continue to promise customers and their referrals more incentives to carry on with the good work.
But a friend inviting you to enlist a service doesn’t automatically make the service the best option. It pays to do all due diligence to ensure your money goes to the right place. Always check if you’re signing up for the cheapest deal. Knowing what conditions come with the referred deal is also important to save you a lot of stress after signing up.
Change how you pay energy bills.
How you pay energy bills can earn you some savings when switching between energy providers. Suppliers may offer money off if your payment method results in less stress and paperwork. Paying directly by monthly debit is a great way to earn discounts from your utility company. Opting to pay electronically can also save you some money. For many service providers, issuing paper bills is expensive. So, the more you request your bills in hard copy, the less likely your bill will reduce.