When looking for a utility company for yourself or your business, you can become overwhelmed with the many different businesses there are to choose from.
There’s also the fear that you’ll make the wrong choice and end up paying more than you already are.
Using comparison websites is one way of finding great deals where you can save money. The more clients there are looking for cheaper rates, the more competitive business gas deals there are available.
However, let’s look at another option available that can help you save on your gas bill while giving you more than what you are paying for.
Dual Fuel Tariffs
A dual fuel tariff is a combination of getting both your gas and electricity from one supplier that results in a single bill. This makes managing your electricity and gas consumption easier. There is also a dual fuel discount that you could qualify for that would make a huge difference in the price that you are paying for your utilities.
The tariff rates can be divided into two groups: a fixed rate and a standard variable rate. On the fixed rate, you pay for the gas and electricity that are used per unit. These are usually frozen for the term of the tariff. Fixed-rate terms are usually set for 12–24 months.
This means that the price per unit stays the same, but you might pay differently each month depending on how many units of gas and electricity you used during that period.
A standard variable rate is the default rate that most businesses and people are first put on. This rate is when the cost of the gas or electricity can be changed at any time by the supplier, resulting in a higher bill despite how much you have used.
Dual Fuel Discount
Using a discount to attract more customers, gas and electricity utility companies will at times offer a packaged deal with a cheaper rate than what they offer for gas and electricity separately.
There is also an additional discount if you use the monthly direct deposit payment method, which reduces the admin fees other payment methods might need, and you can also get a discount if you choose to use a digital form of communication instead of receiving paper mail.
It’s important to remember that fixed rates on a dual fuel tariff may include an exit fee if you decide to switch suppliers before the term is up.These exit fees can also be charged per fuel, so you may end up paying double if you decide to leave the contract early.
These exit fees, however, can only be applied once in the last 42–49 days of the term.
How to find a dual fuel tariff discount
You can use a comparison website to find utility companies that offer dual fuel tariffs, and look for the following items to ensure that you are making a quality switch:
- Check if the dual fuel discount tariff has any exit fees included; this means that you will be paying to make a switch to a new supplier if you plan to change your mind before the term has ended. This is an extra cost you might want to avoid.
- Check for other features that the supplier might include with the cheaper gas and electricity prices, such as managing your usage, sending someone out to do metre readings, etc.
- Check for payment methods and alternative billing systems that the suppliers use.
- Check for an eco-friendly company if you want to reduce your carbon footprint.
- Choose a supplier that installs smart meters. This way, you can monitor your own gas and electricity usage instead of waiting for a visit from the supplier representative or overpaying for an estimation.
Other Ways You Can Save Money
You can also make some other changes to help save on your gas and electricity bill by doing the following things:
- Insulate the roof and close off any vents that might allow hot and cold air to escape.
- Using energy-saving bulbs
- Opening windows for fresh air and natural lighting
- Switching appliances off, pulling the cable out of the wall, and switching off plugs at the socket
Saving on utility costs can be difficult at first, especially if you aren’t sure how to do it. Using the options provided to you can be helpful in making decisions that will benefit your pocket in the long run.
When you decide to switch your gas and electricity providers, make sure you do thorough research before agreeing.
By using more than one way to save, you will have extra money in the bank, ready to be used as you wish.