7 Tips on Shifting to a Budget Friendly Energy Supplier

The truth is, there’s no single cheap energy supplier applicable for everyone. It’s all about finding the cheapest energy supplier that matches with your lifestyle. That said, finding cheap utilities shouldn’t be your main priority either. Some households prefer using renewable energy, while others would rather have a supplier with great customer service. Whatever the case is, here are some of the most practical tips that can help you with shifting to a budget-friendly energy supplier.

1: Check the Payment Methods Being Offered

A lot of energy suppliers offer a wide range of payment plans, as well as pricing options to choose from. As a wise homeowner, it’s important that you analyze as many as possible, and this should include several plans offered by a single supplier. Aside from that, it’s also ideal to think about the possible discounts, rates, and rebates that would appear on specific payment plans being offered by the company. For example, some energy providers offer discounts to those who opt for direct debit payments on a monthly basis. The annual rates could be divided in order to come up with a fixed monthly rate without an increase or decrease in the energy consumption. Consumers can consider paying fixed rates and this is usually the preferred option for most homeowners. However, there are also other options available, and it’s important to look through these before making a final choice.

2: Check the Electric Meters

An energy supplier usually base the monthly payments on the usage levels accumulated by the previous tenant. In order to make sure that the amount you’re paying would not be more than what you consume, then make it a habit to take regular meter readings and this should be relayed to the supplier right after. Aside from that, this should also be done the moment you decided to move out. Don’t forget to submit meter readings every 3 months or so, as a way to ensure that you wouldn’t be paying too much or too little during the duration of your contract.

3: Concentrate on Managing Energy Costs

After the stabilization of the power supply, managing the costs has been the new focus. That’s why it’s important for business owners to figure out the best ways on how to reduce their electric consumption and be able to lower the operating costs in order to fully sustain the business.

4: Fix the Gas and Electricity Prices

For those who really want to make a switch, fixing the energy prices could be one of the best moves you’d ever make, mainly because they go up every year. Also, locking into a set price is a great way to protect yourself from any possible hikes within the duration of your contract. This would also make things a little more convenient, especially if your purpose is to budget and split the bills across the housemates. Not just that; most electric companies nowadays don’t have any cancellation fees once you decide to opt for a lock in option.

5: Select a Direct Debit

For those who are not aware, paying bills through direct debit is a great way to save as much as 10% with some suppliers. Though, you have to know that there are plenty of differences in regard to the energy used, as well as to what you have paid for the moment you have given the final meter readings. Which only implies that you might have to pay more debit or have the difference, credited.

6: Go for an Online Tariff

An energy tariff with an online billing could help you save as much as 200 dollars a year, as compared to tariff with paper. Not just that, it’s also a great way to keep the hallways tidy just like how you want it to be. All of the upcoming bills would be managed online, and through this, you’ll be able to set up monthly payments with ease.

7: Consider Long Term Savings

Despite the fact that solar power needs a large capital investment, this could help a business’ financial situation in the long run, as it can be an answer to price increases and shortage. Also, when used effectively, solar power is known to reduce electricity consumption for several hundreds of dollars. For instance, a fuel station can consider using solar power throughout the day, and switch to grid power at night.

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April 19, 2016 7 Tips on Shifting to a Budget Friendly Energy Supplier