How to Find the Best Electricity Provider

There are numerous factors involved when it comes to the cost of an electricity bill. Most common factors include: Location, usage, size of home, insulation of home, as well as a variety of other factors. The average electric bill for residential consumers is £429.41. In order to manage your utility bill, you must monitor your usage and ensure that your home is as energy efficient as possible.

What Factors Affect My Energy Bill?

In the summer, your energy bill will be most affected by the air conditioner. In the winter, the bill will be most affected by the furnace. If the home is well-insulated and the all air gaps are sealed, the energy bill will remain relatively low. Most people with energy efficient homes may achieve lower energy bills than that of the average consumer.

If you live in an older home with no insulation, your energy bills will be notably higher. Most of your heat and air will be lost to the outdoors. Thus, you will have to run your unit on for longer period of time in order to achieve your desired temperature.

Lights, computers, televisions and other electronics also affect energy bills. Ensure that all of your electronics and appliances have Energy Star ratings to minimise the amount of electricity used in the home. This will also lower energy costs.

How to Compare Electricity Prices

Unfortunately, there is not always a choice in electricity providers. Deregulation has encouraged some competition. Some apartment complexes, condo communities or subdivisions may still only use one provider. Therefore, you may have to cut costs on your own through the methods mentioned above.

Businesses are zoned differently and may have more of a choice than homeowners. Some tips for selecting the cheapest electricity provider are listed below:

1. Compare the Per Usage Charges: Electricity charges by the kilowatt-hour. This number is calculated by taking the number of watts used by the electrical device and multiplied by the number of hours used. This number is then divided by 1,000 to yield kilowatt-hours. Each electrical device uses a certain amount of watts. Most of the watts usage amounts may be found on the box.

The average cost of electricity range from 14 pence per kWh to 28 pence per kWh. This is quite a range. However, you should contact each of your options for electricity to determine the lowest cost.

Make an estimate for the maximum usage. For instance, estimate that all your lights will be on 24 hours per day and seven days per week, as well as, your television, air conditioner and other vital electrical needs. This will give you a best estimate of what to expect for electricity costs.

2. Inquire about Price Matching: Some utility companies in the UK have cheaper electricity prices than others. However, some electricity companies will match the prices of the Big Six electricity companies in the UK. If you like the offerings and the customer service at one company but not the price, this may be the deciding factor.

3. Inquire about Cheap Electricity Rates in the Evening: Some utility companies have cheaper electricity prices in the evening. Inquire about these rates when you compare electricity companies. This may be a determining factor in you selecting one electricity company over another. If your electricity company offers this option, the rates may be as low as 4.78 pence per kWh. With these low rates, you may decide to use the bulk of your electricity in the evening.

Article Supplied by First Utility

First Utility is an energy company with a difference. We want to help you understand your energy usage, reduce your carbon footprint and ensure you receive accurate bills.

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