Having a comfortable home that provides you and your family with everything you need is something that many of us take for granted, but the reality is the cost of heating and powering your home can make a dent in your budget.
Luckily, there are many options available that allow us to shop around and be savvy with our choices. One way is by comparing energy contracts to find the best dual-fuel deals.
Through dual-fuel contracts, you receive your gas and electricity from the same energy supplier, as opposed to having two contracts with separate suppliers, making it a handy and affordable option.
Why choose a dual-fuel energy tariff
Some suppliers offer heavy discounts for sourcing both gas and electricity through them, so dual-fuel deals are often competitively priced. Your supplier may offer you lower rates in return for:
1. Convenience
Not only is it convenient for you to take one contract with one energy firm, but it’s also convenient for your supplier. They halve their paperwork and administrative costs when you take out a dual-fuel contract, especially if you choose to pay online or through direct debit.
2. Loyalty
Purchasing both gas and electricity together means you commit to just one company. This is a competitive advantage for the company and they may reward your loyalty by offering you cheap dual-fuel rates. After all, they want to show their appreciation so that loyal customers stick around.
Although dual-fuel tariffs usually offer great value for money, they aren’t always the cheapest option for every household. If saving money is your number one priority, you should use a comparison site to shop around for the best-priced deals.
How to find the best deals
Use a trusted online comparison site like Utility Saving Expert to compare energy firms and tariffs. The UK’s leading socially conscious comparison tool, you are guaranteed to find the best value deals at UtilitySavingExpert.com because it is 100% independent and impartial.
Once you’ve chosen, confirm you’d like to switch and enter some personal details for your new supplier. You won’t need to be on the phone for hours or organise for any building work, repiping or rewiring to be done in your home. You won’t even need to contact your old supplier. All that you need to do is provide a meter reading on the day of the switch and the rest is taken care of.
Our top tip is to review your options annually to make sure you are still on the best contract for you, and if not, switch and save money.
Types of tariff
With a range of contract types available, you can choose the tariff that best suits your needs. The two most popular types of dual-fuel deals are fixed-rate and standard variable tariffs.
Fixed-rate tariffs
This popular option enables you to pay a fixed price for each unit of energy you use and offers peace of mind that you won’t be caught out with unexpectedly high bills. However, if you don’t compare and switch deal after your contract ends, you may be automatically placed on a default standard variable tariff.
Standard variable tariffs
Offering flexibility, variable tariffs are convenient as a short-term choice, especially if you need less commitment because you’ll soon be moving house. However, your bills could vary broadly depending on the energy market. You won’t pay a fixed price for each unit of energy, which is a risk and you could end up paying a lot more than expected.
Other options include prepayment meters or smart meters that allow you to control exactly what you spend, economy 7 options that are cheaper to use at night, or green tariffs that use renewable energy.
How to pay your energy bill
Direct debit payments are usually energy suppliers’ preferred method and they’ll often make this the cheapest option. It’s also useful for managing your money because you know exactly which day the money will be taken from your bank account and there’s no risk you will accidentally miss a payment.
If that isn’t the right choice for you, there are options to pay online or over the phone, but it’s your responsibility to stay on top of making payments.
You could also send a cheque in the mail or even pay by postal order, but you’ll need to factor in postage costs and make sure you don’t unintentionally miss or make late payments. As these types of payments add more paperwork for your supplier, you may not get the benefit of the cheapest rates.
An added benefit of choosing a dual-fuel deal is that you only need to make one regular payment to one energy firm, who will combine both your gas and electricity charges into a single fee, halving the amount of admin for both you and your supplier.
Choosing a dual-fuel tariff can be a great way to make cost savings on your energy bills. Compare now to find yours.
