There’s no escaping the news of the energy market these days, it is affecting everyone from domestic to corporate customers. Whilst price is a big factor, there are things you can do to make sure you home or business is running as efficiently as possible!
Meter Readings ?
Do you have a smart meter? If not, make sure you’re sending in readings every month to ensure you are only being billed against what you are using. If your bills are being estimated too high, you could be overpaying. Too low, you could end up with a large outstanding balance!
Direct Debit ?
Did you know some suppliers offer a discount if you pay by direct debit? If your supplier offers this and you can, move over to DD. Should you pay fixed or variable? Fixed is great if you have a budget that you need to stick to, it will build up on your account and any variance in your usage means your DD will be amended either up or down when it is reviewed (usually biannually). Variable means you only pay for what you use which is what most customers prefer, however, if you’re due to start a new contract or if you’re out of contract and on a variable tariff, it could lead to a higher bill amount which you weren’t prepared for.
Contract End Date ?
Are you currently in a fixed contract? If so, great! Your prices are fixed for the contract period*. If your contract is ending soon and you have nothing in place, check your suppliers’ current variable rates as these can change every month (at the moment, they are only increasing). Would it be more beneficial to lock in a fixed rate or remain out of contract? With all the uncertainty around the future of energy costs, if you can budget for a fixed contract period, we would recommend this. If prices go down in the future, you can still lock in those rates as early as 12 months in advance (for businesses) to begin when your contract ends so you won’t miss out on the rates whilst they’re available.
Time Management ⏰
If you have a single rate meter, you’re paying the same rate per kilowatt regardless of the time of day. However, if you have a day and night meter, or a day, night, evening & weekend meter, you could look to utilise your cheaper prices. Find out what time your lower rates kick in and see if you could move some of your energy usage to cheaper times.
Invest In Renewables ♻
There are a multitude of solutions available that can help reduce your energy usage, from LED lighting to infrared panels, to solar. If you can invest, there has never been a better time. Give our UT Power Limited team a call if you’re interested in more information about what products would suit you best and to discuss if there are any grants available in your area.
*These could change if there are circumstances out of the suppliers control
