In the last few years there has been a trend for more people switching their electricity suppliers, this can be down to a variety of factors. For some people the rising cost of fuel has meant that they have to find ways to cut back on costs, sometimes the only way to do this is by reducing the amount of electricity used and getting cheaper energy to power their homes. For others it may simply be that the rising cost of gas and electricity in the UK has made them want to switch supplier. Whatever the reason, there has been a marked increase in the number of people looking to switch, which makes the market slightly more competitive for those selling products and you will often find that there are better prices to be found when choosing a deregulated supplier from a bigger company.
Deregulated electricity suppliers are allowed to set their own rates, so competition means that prices are lower than you would expect. Deregulated supplies also allow you to buy both energy and gas from one company. This means that you will find deals available where one company supplies gas and electricity to your home and you can get gas and electricity from another company supplying either gas or electricity. So the ability to switch between different suppliers means that the consumer gets the best deal possible.
One of the reasons that people choose to switch electricity suppliers is the cost. When you are paying more than the market price for gas and electricity then it is obvious that you are not getting the best deal. However, with so much competition between suppliers you can compare what each offer in terms of cost and the end result will be that you find the cheapest option for your household. So when shopping around make sure you check your current gas and electricity supplier along with any other companies you could buy from, you may be surprised at the difference.
The second reason that consumers choose to change providers is because they feel that it is better for the environment. With deregulated energy suppliers the industry has had to change. For example there was a time when there were only a few energy suppliers when compared to today there are hundreds. This means that when looking for a supplier for your energy source there are some factors that you should take into consideration.
For example, when you are changing electric companies you will need to work out how much energy you use. Most people decide to switch their supplier because they feel that it is better for the environment. There is a lot of debate over whether it is better for the environment when people are using more electricity produced by the deregulated energy suppliers than produced in the UK as a whole. However, it is impossible to know how your electricity is produced and whether it is deregulated or not without having an analysis done. It is thought that around thirty percent of the energy produced is deregulated meaning that the customer can choose whether or not to follow the law when they are deciding how much they wish to pay for their gas and electricity.
If you do go ahead and change your electricity suppliers then you will have to consider what type of changes you would like to be made to your tariff. You can choose between variable rate billing and a fixed rate. A fixed rate is basically where you agree to a minimum amount that you will have to pay for your gas and electricity throughout the billing period. Many customers find that this option suits them best as they know exactly what they are paying for. However, there are those that find that variable rate billing is a better option for them as they can go on holiday and during this time they may wish to increase or decrease their gas and electricity usage.