Benefits of Dual Fuel Energy Tarrifs

Last winter saw energy suppliers including EDF Energy, British Gas and npower making cuts in energy prices, in some cases by 5%. This, in part, balanced significant price increases made last year and was greeted with moderate enthusiasm from consumers. In autumn 2011, gas prices increased by an average of 17.4% and electricity prices by an average of 10.8%.

Remaining loyal to your energy provider rarely pays, and more people are using price comparison sites such as Moneysupermarket to switch to an alternative provider offering cheaper rates and special discounts. Utilities experts point out that it is important to ensure you are on the best energy tariff for your usage and that switching to the cheapest product could save $250 on average.

Despite this, an astonishing 40% of consumers are not aware of the cost of their annual energy bills. Research has also shown that an estimated 15 million households are missing out on savings by never switching. Some simply don’t consider it or think it isn’t possible, while others think they have a good deal already or can’t be bothered. In reality, switching energy provider is straightforward with a simple online application and your new provider will take care of the details and changeover. There is no interruption in services while this occurs.

A simple way to reduce energy bills for those still with separate gas and electricity suppliers is to combine these services. Companies offer attractive dual fuel discounts to those that receive both gas and electricity services, which can add up to significant savings. For example, EDF reduced the cost of its standard dual fuel tariff, making the average household bill $1202 a year, while Ovo Energy made similar reductions, bringing the cost of its fixed dual tariff down to $1,059 a year.