The Energy Jungle

If you are anything like my household, one of the biggest bills you face is the gas and electric bill

Now there are many ways of reducing the amount of gas and electric units you use and Philpickwick.com members will have seen numerous examples of these, (sign up free at tips n freebies if you’re not a member yet) and we’ll have more coming soon, so keep checking back.

But there is also an equally important side to saving money in this area, i.e. getting the best deal on how much each unit costs in the first place.

You will be amazed at how many energy tariffs there are and how confusing these can be, with each provider potentially having over a dozen different tariffs running at any one moment in time, but don’t worry, there are basically only 3 things to keep in mind:

  1. the gas and electric coming into your home – regardless of provider – is exactly the same, (there is only one main electric cable and gas pipe coming in.)
  2. costs between providers will vary tremendously
  3. and KEY – providers will offer a ‘standard’ tariff plus a host of ‘others’ often with attractive flashy names.

So what is a STANDARD TARIFF

This is the default tariff – i.e. if you are not on a deal, or your current deal runs out and you don’t sign-up to another deal, – then you will be put onto a standard tariff).

Now not a lot of people know this but …

  1. something like 70% of UK households are on a ‘standard tariff’ with their supplier.
  2. And guess what……. Standard tariffs are the most expensive ones that any of the company’s offer.

Do you know if you are one of the 70% on a standard tariff and are therefore losing money? – if you don’t then find out.

So Let’s save some money….

Basically there are 2 ways to do this:

  1. Look at potentially switching to a cheaper supplier – Do a 5 minute comparison and save £100+, use our 1 stop comparison shop to help you evaluate this here – tip it may be useful to have your energy usage and/or last bill available to help you here.
  2. Or – if f you think switching is too much hassle – (it isn’t but loyalty regardless of cost still reigns with some people – see our post Loyalty is a mug’s game) just move to YOUR current provider’s cheapest deal, as we’ve said earlier, bizarrely, even though it’s the same gas and the same electricity, each energy firm charges a range of rates for using it. You probably won’t save as much as option 1 above, but you will still save money….which is what philpickwick.com the profit mentor is all about! how do you do this?just phone them up and tell them  you want the best deal.

How much can I save?….

Again this depends on your own usage, who you use at present and what tariff you are on, but usually switching providers on a like with like tariff will save you money and also switching from one providers standard tariff to their cheapest will also provide a saving.

My provider at the time of writing, happened to be Scottish Power, and purely by moving between their standard and cheapest deal it gave me a saving of 25% or £260/year in my case, but I do know there are people who have saved over £1000/year by doing the full exercise.

Well worth 30 minutes investigation I’d say.