Reducing fuel bills
Although using less energy is important, it isn’t the only way to reduce your fuel bills. Checking that you are on the right fuel tariff for your needs and comparing prices across suppliers can save you just as much money.
Compare suppliers to ensure that you have the best deal. This means checking the unit price and standing charge costs and NOT making a decision based on the estimated monthly Direct Debit payment.
Some suppliers offer you a lower monthly payment to get you to switch, but this can mean that you are paying too little each month and will then have a bill to pay at the end of the year. This will also result in future Direct Debit payments being higher as your supplier will have a consumption history for you and be able to prove that your monthly payments were set too low in the previous year. There are several supplier comparison websites out there – just type ‘compare energy suppliers’ into a search engine and choose which one you want to use.
Consider setting up an online account to read your meter readings on the internet and receive an email copy of your bill. You can usually get a good deal with these types of account as there are fewer costs for the supplier - for example, a reduction in printing, paper and postage as your bill is emailed to you. These savings can be passed onto you in the form of cheaper fuel prices.
Pay by Direct Debit where possible, as most suppliers offer a discount for this method of payment, and ensure you check your payments regularly against your accurate bill to avoid getting into debt. The monthly payment will have been worked out so that you pay the same amount on each occasion, regardless of the time of year. You should find that in summer you build up a credit, which is put towards your higher winter bills.
If you are in any doubt about your payments, please contact your energy supplier.
Check your meter reading. If you have an online account, your supplier may email and remind you to provide a reading around the time your bill is due. If you receive an estimated bill then always check the meter to see if the estimated reading is near to the actual reading. If it is underestimated you are likely to receive a bigger bill next time, while an overestimated reading means you are paying for electricity, gas or water you haven’t used.
It is worth getting into the habit of taking quarterly meter readings as your supplier only has to read the meter every two years, although some do this more often.
Once you’re on the right tariff and paying the cheapest prices for your fuel, have a read through Energy saving tips to see if you can make any changes to reduce your consumption and save even more money on your bills!
