How to Find Out What Electricity Rates You Pay - Energy Efficiency ...

Joined: Apr 25, 2013

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You have just moved into a home and want to know what to expect to pay, or you have lived in one place for a while but you never really understood why you're paying the energy company this much. For many people, these situations sound familiar! If this describes you, don't worry ? the process of figuring out what electricity rates you pay is actually relatively simple. It's easiest if you have already received a bill from the electricity company, but if not, don't despair. There are some neat techniques you can use to find out what you're paying and why.

Ask The Previous Tenant Or Landlord

If you are just moving in and you aren't sure who your supplier is, ask the letting agent, previous tenant, or landlord. If the previous tenants have already left and you can't ask, but they let the energy company know that you moved in, you should receive a letter soon that is addressed to the occupants of the household. This letter will inform you about the current tariff ? probably a standard tariff ? and your options for service.

Call To Find Out Who Your Supplier Is

You may not receive a letter immediately after moving in. You can also find out your regional electricity distribution number, which will be a 0845, 0870, or 01752 (in South Wales only) number. Provide details about your address and they should be able to tell you who your supplier is. Then, you can easily get in touch with that supplier to let them know that you have moved into this home, take a meter reading, and get onto a better tariff as soon as possible. You might want to do this if you're worried about spending a lot in the first month. Most suppliers will put new residents on the standard tariff unless they request another.

Look At Your Previous Bills, If You Have Lived There For A While

If you have been living in your home for a while, you probably know who your supplier is, but you might not be sure what your rates are. If this applies to you, look at your previous bills. They should tell you your supplier, the tariff name, and the details on the per-unit pricing of this tariff. If there are any tricky calculations like peak and off-peak energy, the bill should perform it for you and show you why you arrive at the final total. There may also be standing charges, and the bill should separate them from the actual unit price for electricity so you can compare each aspect of the bill fairly.

Compare This Price To Other Suppliers

The easiest way to look at your current energy prices and switch to a better plan is by using an online rate comparison calculator. These are found on utility switch sites, which provide you with an overview of available tariffs and a breakdown of how much each will cost based on your energy usage. This means you can get a personalised quote so you don't need to estimate or guess that you'll save money before switching. You can also enter your details into individual suppliers' sites, as many have calculators to do the same thing, but this takes a lot more work unless you know for sure that you want to stay with one supplier.

Look Up The Supplier's Published Rates

Each supplier is obligated by Ofgem to publish its rates. You should be able to look on their website or call to find out their rates. Most suppliers have a table or chart that shows the rates they charge per unit in various areas including or excluding VAT and standing charges. The rates depend on your exact location, so a Londoner will usually pay a different amount than someone in Manchester or Cardiff would, for instance. Rates may differ based on the tariff you're on ? for instance, a tariff might guarantee rates that are a certain percentage lower than the standard rates for electricity.

Finding out what electricity rates you pay is a great idea so you can fairly compare new suppliers and tariffs to your existing plan. If you have just moved in, chances are good that your tariff will not be the most financially sound one, so you need to take action to find a cheap, reliable tariff that suits your needs.

About author: Laura Ginn

?Laura Ginn understands that many people find their energy bills confusing, leaving them unsure of just what they are paying in electricity rates. Compare gas and electricity rates at uSwitch.com and find out just how much money you could save.

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