What are the latest energy price updates?

When you hear on the news that the price of gas or electricity is rising, it is very often the case that the ones suffering the biggest rises are the ones who remain unwaveringly loyal to their existing suppliers.

A number of people are reluctant to switch their utility providers because they believe that the supplier they have always used – usually a Big Six company – is a safe bet, and aren’t keen on the idea of actually undergoing the switching process.

However, it’s important for consumers to be aware that, just like most commercial organisations, energy companies are constantly in competition with each other; trying to appear as the most attractive and viable option to consumers.

The main way they do this is by slashing their prices, and offering tariffs which directly compete with one others’.

If you feel like you might need some extra convincing to compare the energy supplier market and switch to a different tariff or supplier.

Compare energy prices to see how much you could be overpaying on your monthly energy bills by not shopping around.

What affects energy prices?

There are all kinds of reasons why of gas and electricity prices change, including supply and demand, availability, wholesale costs, transport costs, and infrastructure maintenance.

Even the consequences of a conflict or a natural disaster in an in oil-rich country can impact production and accessibility, which in turn will affect the price we pay to boil a kettle, or fire up the central heating here in the UK.

How to beat rising gas and electricity price rises

One of the simplest ways to beat any energy price increase is to compare the latest energy tariffs and tie yourself into a fixed rate deal – even if you only fix your energy prices for 12 months, this should be enough to dodge at least one round of price hikes.

It also helps to be more energy efficient – the less gas and electricity you use, the lower your bills will be – so consider how you can save energy around the home. This can involve some simple tweaks to your routine, such as dropping the thermostat by a degree and not leaving appliances on standby, or making some larger-scale changes, such as installing loft insulation, fitting a new boiler, and replacing old white goods with energy-saving models.

For more ways to save energy and save money on your bills, check out How to reduce your electricity and gas usage.

What is the process for switching supplier?

Switching energy suppliers is definitely not the long, complicated process that you might believe it is. Switching to a more competitive supplier or going onto a new tariff actually requires very little effort on behalf of the consumer, and there is no disruption to your energy supply whatsoever.

Please see our FAQ page for answers to the following questions around switching your supplier:

• What is the process for switching energy provider?
• Do I have to settle my final bill with my old supplier?
• Is switching safe and will I lose my supply at any point?
• Do I need to change any pipes or wires if I change suppliers?

How to get a quote for a better deal

It’s made easier to look at the whole picture objectively if you use an online price comparison tool to look at all of the different tariffs available to you, and then compare quotes to decide on which one provides you with the best deal.

It’s a simple, hassle-free way to get started with the switching process and gain some insight into the amount of money you could possible saving – so, why not try it out? Simply enter your postcode into the form on the right to get started.