Compare Electricity Prices

When should you switch electricity suppliers?

You can switch whenever you want but you might have an early exit fee to pay if you are in a fixed contract. You can switch fee free 49 days before the end of your contract and doing it before the end of your contract means you will wont roll on to the standard variable contract which is typically more expensive. If you are not in a fixed contract (which means you will be on a standard variable contract) then you can switch at any time.

Why should you switch electricity suppliers?

If you don’t switch your electricity supply when your fixed term plan is coming to an end, your supplier will automatically switch your contract to a standard rate electricity tariff which can be really expensive. If you haven’t switched your electricity contract or electricity supplier during last 2 to 3 years or have never switched your electricity contract then you are more than likely to be on the energy supplier’s standard electricity tariff. More than half of the UK households are on standard variable tariffs which is unfortunate as these tariffs are one of the most expensive electricity plans so by switching you can get cheaper plan and save money too.

Most people switch from one electricity supplier to another to save money, however another reason to switch could be customer service or you want to have green energy plan which is not supported by your current energy supplier.

Electricity price comparison and switch

It is important to compare electricity prices to find tailored electricity quotes to suit your needs. Electricity prices can vary depending on your area and household needs. We (Free Price Compare) can help you run an electricity rate comparison in few minutes to find a cheaper electricity supplier.

Step 1 – Where you live

You need to enter your postcode and choose the address of the property for which you are looking to run the electricity comparison on.

Step 2 – Your supplier details

Our system will identify who your supplier is, what tariff you are on and what your usage is. You simply need to confirm this is correct

Step 3 – How much electricity you are using

View the plans available and select which one you want to switch to

Once you are happy with a plan or supplier, we will take care of any paperwork required. We will inform your new electricity supplier and current supplier about the switch to arrange switchover date.

The electricity switch can be completed within 17 days, it will always take at least 2 weeks because you have 14 days cooling off period if you decided to change your mind. Sometimes the switch can take up to 28 days but this is rare.

The Concept of Energy Price Cap

In recent years, the concept of energy price cap has gained attention in the energy market. A price cap is a maximum limit set by the regulatory authority, such as Ofgem in the UK, to prevent supplier price exploitation and protect consumers. The energy price cap aims to provide financial protection to vulnerable energy consumers and ensure fairness in the energy market. Its purpose is to make energy costs more predictable and manageable for consumers, especially those on standard variable tariffs. By understanding the energy price cap, consumers can have greater control over their energy expenditures and avoid sudden price hikes.

Definition and Purpose of Energy Price Cap

The energy price cap, also known as the default tariff cap, is a regulatory mechanism put in place by the government to protect energy consumers from paying excessively high prices. It sets a limit on the rates energy suppliers can charge for standard variable tariffs and default energy tariffs. The purpose of the energy price cap is to ensure that energy costs remain affordable and transparent for consumers, especially those who have not switched to fixed-term deals or better energy tariffs. It aims to create a fair and balanced energy market by preventing suppliers from exploiting customers through unreasonably high rates.

Impact of Energy Price Cap on Consumers

The energy price cap has several positive impacts on energy consumers. Firstly, it provides stability and predictability by limiting the price fluctuations that could occur with standard variable or default tariffs. This allows consumers to budget and plan their energy expenses effectively. Secondly, the price cap safeguards consumers from sudden and unjustifiable price increases, ensuring that energy costs remain within reasonable limits. It enhances consumer confidence and trust in the energy market, knowing that they are protected from supplier price exploitation. Lastly, the energy price cap offers peace of mind and financial protection to vulnerable consumers, ensuring that energy bills are manageable and affordable.

Comparing Gas and Electricity Deals Separately

When comparing gas and electricity deals, consider wholesale energy prices, standard variable tariff, dual fuel options, direct debit benefits, and the switching process. Evaluate the easiest way to switch, unlocking the cheapest deal and energy price guarantee. Look into fixed price and variable tariffs for the right deal.

Pros and Cons of Comparing Gas and Electricity Deals Individually

Exploring the trade-offs of individually comparing gas and electricity deals helps understand the advantages and disadvantages. By weighing the benefits and drawbacks of separate evaluations, one can make informed decisions. Assessing gas and electricity deals individually is crucial for understanding their positives and negatives.

Tips for Getting the Best Gas and Electricity Deals

Discovering effective strategies for securing the most competitive gas and electricity deals involves obtaining valuable tips and practical advice. Exploring expert insights for acquiring the best deals includes finding the most favourable options and acquiring useful insights.

Green Electricity Deals: An Emerging Trend

Green electricity deals are gaining traction in the market—wholesale energy prices, fixed-price tariffs, and dual fuel options are some offerings. Customers benefit from new deals and easy switching processes. Ofgem ensures energy switch guarantees and price protections. The UK's postcode plays a role in finding the right deal.

What are Green electricity Deals?

Green electricity deals refer to the specific offers and packages available in the market that focus on renewable sources of energy. These deals aim to promote sustainability and reduce carbon emissions. By understanding their nature, features, and components, consumers can make informed decisions about choosing green energy options.

Benefits of Green Energy Deals

Gain valuable insights into the positive impacts and advantages of choosing green energy deals. Understand the various benefits offered by embracing green energy deals over conventional options, and discover the favourable outcomes associated with it.

Are Energy Prices Expected to Rise or Fall in the Near Future?

Energy prices in the near future are expected to fluctuate due to various factors. These include supply and demand, weather conditions, and geopolitical events. With renewable energy sources gaining popularity, there is a possibility of lower prices as they become more competitive with traditional sources. Regularly comparing electricity prices is important to ensure you get the best deal.