Do not stick to one supplier – year in, year out. Opting to switch the suppliers will see you find cheap offers, nine times out of ten.
Expect some energy suppliers to slap you with a fee for leaving the contract early, but it will be within your legal rights to leave the contract 49 days before its official end and not face any charges. So, exercise your right and shop around, you have no reason not to.
Below are some insights that may help you find a better deal than you currently enjoy.
- Go For Gas And Electricity Dual Tariff
Not all residential places have a gas connection, but if you are in one that has such, you can combine the gas and electric bills under a dual tariff; some suppliers have such offers. With this option, you only have to settle a single monthly bill from one company rather than two different suppliers for your gas and electricity.
- Fix Your Gas And Electricity Prices
Go for fixed energy prices, such contracts may be a wise move, but they tend to get pricey with every new year. However, a set amount can shield you from future price increments especially if you have an extended contract. It also makes it easier to budget and evenly split the bills if you have other housemates. Moreover, some energy companies will not impose cancellation fees even when customers have a set price.
- Go For An Online Tariff
If making the switch to an energy traffic that does online billing can see you save around $260 annually compared to using a standard tariff that deals with paper billing. You also benefit from having a clean hallway with no papers on the floor.
The bills are managed on your online account where you can easily set up automated monthly payments.
- Opt For Direct Debit
You can save a further 10% if you opt to pay your supplier through Direct Debit. Just keep in mind that there may be some disparities between what you use and what you paid for when you sent the final meter readings. In such as case, you may request a refund of the difference (credit) or pay more (debit).
- Check The Meters
Always check the meter readings especially if your supplier uses estimates based on the reading of the previous tenant’s usage to determine your monthly bill.
You can lower the risk of making high payments or very little that will come back to bite you but submitting the meter readings after every 2 – 3 months. Just imagine if you discover that you bill suddenly drops to around $40 a month, that will be an annual bill of $480.
Therefore, make sure you take the meter reading the day you move in and submit the reading to the energy provider so that you avoid getting the bill of the previous tenant. It also is wise to do the same when you move out for the sake of the next tenant.
- Choose Rent That’s Inclusive Of Bills
It is possible to make some significant saving if you land a supplier that offers an all-inclusive basic bill (one that has electricity, water, gas, and internet), more so if the rent is reasonable.
On the one hand, you will not have to split the bills or depend on your housemate to help with paying part of the utility bills. But on the other hand, you will not enjoy the opportunity to build your credit since you make prompt payments.
The rent which is inclusive of the utility bills may be a rare thing, but you should discuss with the landlord or the letting agency about it and see if you can get such a deal. Finding the best energy deals takes time but it can help cut prices a lot.
- Split The Bills
Most residential places that house students are shared dwellings and the living arrangements will include figuring a way of splitting the bills between all the housemates.
However, reaching an arrangement that everyone finds suitable is never easy. It is thus important to note down every payment you make during your stay in the house and what others owe you if you paid for them.
Splitting the bill can be less complex if every housemate gets to handle a specific bill (be it the water bill or the internet, electricity, gas, TV license, or the phone bill) so that it is easier knowing who failed to pay for what and how much is owed for the month besides the rent.