How dual fuel tariffs and can reduce your energy prices in the long term

How dual fuel tariffs and can reduce your energy prices in the long term

Energy prices go up and down more than most types of household bill, and the market seems to be always be changing with new deals springing up overnight and old tariffs getting shut down when they are no longer profitable for a supplier. It can be hard to keep up if all you want to do is just sign up and forget about your energy bills, but if you take a bit of time to check out the market and research different tariffs, you can find yourself saving a ton of money on your annual energy bills and beating the price rises.

Dual fuel tariffs can often be the best deal available for people trying to save some money, and they can also save you the fuss of having to deal with two different companies for your electricity and gas. A few years ago only a few companies offered dual fuel options but recently the market has exploded as companies struggle to keep their customers loyal. Nearly every major gas supplier now offers a dual fuel tariff at a reasonable price. There are only a few occasions where dual fuel isn't the best option, and if you're buying your electricity online than you can save even more money by getting an online only tariff, providing you don't mind not receiving your bills by paper!

Duel fuel isn't the only option though, and depending on how you use your electricity and when you happen to be at home, there are a number of options you can look into when looking for the best energy prices. For example, an Economy 7 tariff can save you money in a small household where your electricity usage can be easily controlled. Under an Economy 7 tariff, you'll get much cheaper energy prices during the late evening and early morning hours. Obviously you'll have to be up at those hours to take full advantage, but if you can schedule your day to do things like clothes washing really late, it can be a great money saver - providing your neighbours don't mind your washing machine going full blast at 2 in the morning!

Then of course there's the prepayment option. In the UK prepayment electricity can be a very expensive option, and should only be considered if you have a bad credit rating or you really don't trust yourself with your finances.

On top of the inconvenience of having to go to the shop every time you need more gas or electric, you could be paying nearly 25% more on a prepayment meter than you would with a contract, which is obviously bad news! If you do have to use prepayment, shop around regardless, because you can still find a better deal even if you don't have as much choice as those using contract deals.

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