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How much electricity does a nuclear power plant generate? If your contract has an exit fee and you are still a long way from the end point, it is worth considering whether switching early will still save you money. Most suppliers have exit fees to dissuade customers from leaving, though by comparing electricity prices and finding a better deal you may be able to save enough on your annual bill to cover the exit fee, and then some.
It is also worth considering whether you have any outstanding bills before switching. In short, nothing. Your current supply will remain the same and the switch over should happen completely seamlessly, with the existing and new electricity suppliers handling the transfer to ensure no disruption of power.
The only need for any physical interaction will be if you opt for a smart meter to be installed by your new supplier.
The same applies if you are switching from a tariff with a prepayment meter to one with a standard credit meter. There should be no reason for your new or previous electricity supplier to disengage your power during the switch over. The new supplier will be able to use the same cables and wires to supply electricity and the only difference you should notice will be how much money you save on your bills. Prices change in different locations and, more importantly, they change over time.
Deals come and go, suppliers change their electricity rates regularly, and sometimes suppliers go out of business altogether. With the introduction of the default tariff price cap, standard variable tariff prices among most suppliers have converged. If your house has electricity and gas, you might be best off with a dual fuel tariff. To find the cheapest electricity supplier in your area right now, enter your postcode in our comparison box at the top of the page. With dozens of suppliers and multiple tariffs to choose from, picking the best option can feel a little overwhelming.
In reality, the options are fairly simple. Though suppliers may offer different variations, the main tariff types boil down to six options. Which one is best for you will depend on your circumstances, such as what type of property you live in and your average usage. Fixed rate tariffs charge you a set amount per unit of electricity used. The amount will be agreed when you take out a contract with the supplier and the price per unit will not change for the duration of the agreement normally months.
This means you will never be charged more, even if energy prices rise. The downside is that you will pay the same if prices fall and you will be tied into a contract that will likely have an exit fee should you wish to switch. The most common option in the UK, standard variable tariffs fluctuate with market prices.
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