Energy Tariffs Explained
There are many different energy tariffs and options for your gas and electricity needs:
Standard tariff
The standard tariff is the most basic provided by almost all energy suppliers in the market. Its prices will always rise or fall depending on various market factors. They are very flexible and very easy to leave if you choose to. However, be sure to look at the price quoted as these tariffs are never cheap.
Dual Fuel
These are very efficient and have become very popular in the past few years. In dual tariffs, both the gas and electricity are provided by the same supplier. This tariff is cheaper than most regular tariffs with consumers having to deal with only one supplier for their electricity and gas needs. However, it is still important to consider if this option is cheaper than dealing with two suppliers.
Fixed energy
This is one of the best tariffs around, especially in the fluctuating energy market. You get to agree on a fixed price with your supplier for a particular period of time. It can help you save in the long-term although you might not get any relief when prices go down.
Online Energy
This is a digital tariff where users can pay their bills online. The main advantage with this is the fact that you get huge benefits for paying your bill online. It is very efficient allowing homeowners to deal with all their energy deals from the comfort of their homes.
Economy tariff
This is another common energy tariff where users pay their bills through a prepayment card. In most homes, it is the only option for most homes. Users have several advantages getting a 7-hour cheap energy overnight. It allows one to manage easily their finances on how much they spend on energy. The only issue is the fact that prepayment is one of the most expensive ways to pay for energy.
Green Energy
This type of tariff allows you to invest in greener energy through your supplier. It embraces the use of renewables with part of your paid bills going to invest in more green energy projects.
Prepayment tariffs
The tariff operates in a similar manner as the card top where users pay for energy on a unit basis by using a token. It allows users to buy tokens upfront avoiding unexpected bills in the future. It is a bit expensive but takes away the electricity bills at the end of every month.
Social energy
This is another cheap tariff created for people with low incomes. It suits people who their energy bills account for ten percent of their incomes. Those struggling with bills can contact their suppliers to check if they qualify for the social energy tariff.
Feed in Tariffs
This is a government tariff that rewards people who help generate energy. One can receive payments for the energy produced by solar panels or turbines. The payments are for producing energy through eco-friendly ways.
Independent gas transporter
This tariff is where you use an independent gas supplier instead of the National Grid. Most people on this tariff don’t even know and are required to check their meter. If you decide to move from the IGT tariff to a regular one, consider speaking to your supplier.