With the state of the worlds economy and the relentless worldwide search for renewable energy, cheaper electricity is something close to everyone’s heart.
Of course you could just use less and many try to but to most others cheaper electricity means simply buying it for less money. The price of electricity goes up with inflation year on year as set out by the government watchdog Ofwatt and wholesale costs also rise/fall with the price of oil. Every time there is a major incident around the world cheaper electricity gets further for every ones reach. The attacks on the Twin Towers in New York, the war in Iraq or the collapse of banking giants Lehman Brothers, these have all directly affected the price of electric bills landing on door steps across the UK. Of course as oil drops and the threat of war ceases we should get cheaper electricity bills but as we all know that’s rarely the case.
Since the deregulation of the Electricity and Gas industry in the 1990’s there has been a wider choice in the UK energy market. Lost cost providers are now offering gas and electricity across the current infrastructure in millions of homes nationwide. I guess a similar parallel can be drawn with the airline industry with many new smaller leaner carriers competing with the big boys offering discounted airfares across Europe and beyond. Easyjet’s planes are full of passengers that are happy to spend a lot less on a ticket than say British Airways were charging for the same route. Of course some of these airlines will fail ( and have ) , as will some of the smaller energy providers but the better ones will survive increasing competition and driving down the price or your electric bill. In fact recent findings show that on average each person that has swapper to a low cost supplier is about £100 better off per annum since deregulation.
Bearing in mind this saving its hard to understand why so many households are still using the bigger and dearer providers like Npower and Eastern Electricity and not looking at other cheaper companies. Many of these new providers also have modern helpful customer services teams to further set them selves apart for the established old boys. Indeed their satisfaction ratings are almost double that of current providers.
If you look at average utility bills , Gas , Electricity , Home/Mobile phone and Broadband prices appear quite keen and most people cant be bothered changing supplier but add them all up and multiply the total by 12 and its easy to see why many house holds are spending upwards of £1500 a year , some considerably more. A ten or twenty percent saving is easily achievable by moving your account to a lost cost carrier. It’s the same gas and electricity as before just cheaper and that means cheaper electricity bills……
Have a look at your bills, take off 20% and multiply this figure by 12 , it wont buy you a new car but it’s a saving , often it’s a big saving. Check out a low cost provider , what have you got to lose ?
