You could spend all day trying to manually compare rates or energy prices from all the different utility companies, it is very tiring and time consuming. Trying to understand all the different energy packages of their bundled services that they are trying to sell you is another problem. The only way to do this is to try to use the Internet. The Internet offers not only the fastest and easiest way to check different things, but you can also use it at your convenience, not during office hours, and you can take your time to really determine what you need.
Most, if not all, energy companies have a good website for determining their rates and it makes it much easier to check a bunch of utility companies with a few mouse clicks.
Energy prices can be very volatile if you buy on the open market. I would recommend looking at limited rates. Capped rates are energy prices that cannot be influenced (up or down) by any price changes. You have entered into a contract to buy at a fixed price for a specific time, such as 12 months, much like a fixed mortgage loan. So for long-term use, choose the limited rates on offer. Like a floating rate on your mortgage, it may seem like a good deal on a floating rate now, but 6 months from now, who knows what that rate would be and you’ve missed your chance. It’s best to take the plunge and make a decision now, you’ll likely save money on future energy price hikes by choosing a company that offers capped rates. However, if you only live in a short-term house, unlimited offers and not a fixed contract would be more suitable.
Due to the level of competition provided by an open market, there is some variation between companies. You can find great deals on gas and electricity through the UK’s leading market players such as British Gas, Scottish Power, E.ON, N power, Scottish & Southern Energy and EDF Energy. There are even websites that do the work for you where you can enter how much electricity you use each month and they will do the comparison for you. These sites are a useful tool because all energy companies are going to advertise you to sign up and they may not offer you the best deal.
The worst thing you can do is do nothing! I know people who use a specific energy company just because their parents always did and haven’t bothered to switch. The deal they have may be a lot, but I bet it isn’t! Take some time to compare energy prices and use the Internet; it really is the easiest way and make those energy companies work for you.