Comparing Electricity Prices - Some Facts

Conducting an electricity price comparison is mandatory if you want to save a number of pounds every year

. This holds all the more relevance, particularly if for the past few years you have stayed with the identical electricity provider.

In this world of stiff competition, electric suppliers do often introduce new tariff plans. But if you are already an existing customer, the possibility of you being moved to a cheaper tariff is much less. In such a situation, it becomes worthwhile to go for electricity price comparisons and it would be an even more efficient idea to complete one each year, even if just to check.

How do you compare electricity prices?

It is extremely easy and convenient to conduct a comparison of electricity prices on account of several websites that have been developed lately. Before you begin the process of an electricity price comparison, you should take a reading of your electricity meter. You must then look into the last bill for the actual reading (instead of the estimate), and use this to calculate your average usage per month.

Ideally speaking, this period should cover the full year including the winter months as power usage is usually higher during winter. You will now be fully equipped to choose a site that deals with electricity price comparison. For getting the ideal price, it is always wise to use three comparison sites.

First you have got to enter the postcode to make sure that all the available suppliers and their tariffs in your locality or area may be compared. You will be then asked to provide the name of your current supplier, the tariff you are presently paying (as given on your electricity bill) as well as the amount of your current usage or payment (the actual figure). You will also be asked to provide details of how you presently pay, and also of how you desire to make your payments in future.

After gathering the required information, the website will conduct a comparison of the electricity prices of various suppliers. The results will be displayed in the sequence of the cheapest first. After you have the name of the supplier who gives the lowest price, it is wise to go their website directly and use their comparison tool for verifying the correctness of the price.

Certain tips for ensuring maximum savings on electricity prices

The electricity comparison sites have become extremely popular lately and can help you save a lot of money. However, you have to remember some tips in order to get the maximum savings.

- You must see to it that you provide the electricity comparison sites with the most accurate information for them to be able to present the best deal for you.

- Generally electricity bills are paid through a fixed direct monthly debit that is normally based on estimated usage annually. These estimates are not 100 percent correct. For getting the appropriate and foolproof comparison of electricity price results, it is worthwhile to take the actual meter readings for calculating the actual usage.

In a nutshell, websites dealing with electricity price comparisons are no doubt a great invention, allowing you to cut down on your bills and make great savings.

by: Tom Jones

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