Gas and Electricity Tariff Types
Dual Fuel Energy Tariff
The same company supplies both your gas and electricity. Companies often build in a discount for customers that use them for both gas and electricity.
Capped Energy Tariffs
In much the same way as a capped mortgage, these capped gas and electricity tariffs guarantee you the amount that you will pay for your gas and/or electricity, until the date specified. These tariffs are normally slightly higher than standard energy tariffs, but you are then protected from price rises for the duration of the capped period.
Some companies have special tariffs for customers that switch gas and electricity online. These can often be at a lower rate to the standard tariffs as the suppliers pass on some of the savings from their reduced administration costs.
With these tariffs, gas and electricity bills are viewed online, rather than being sent by post. These can often be at a lower rate to the standard energy tariffs as the suppliers pass on some of the savings from having less administration costs.
Economy 7 meters split your electricity energy use into day and night. Economy 7 tariffs usually have two unit rates, one for day use and one for night use. The name is based on the fact that there is normally a seven hour period where the lower night rate is effective.
Paying by Direct Debit reduces the amount of administration for energy suppliers and so most offer discounts if you choose this payment method. Payment of your gas and electricity bills is taken autommatically from your bank account meaning that you do not need manually pay bills when they arrive.
The ‘traditional’ way of paying for gas and/or electricity. Energy suppliers send out quarterly bills which you then pay for by cheque or cash. Due to the administration involved in handling and chasing payments, this normally works out to be more expensive than paying for your gas and electricity by Direct Debit.
Prepayment meters take a card, or key which you top-up with credit. The meter will then use this credit. If you wish to switc to a gas or electricity tariff that takes payment in other forms, such as by cheque or Direct Debit, firstly your meter will need to be changed to a standard (credit) meter. Charges may apply, please check with your supplier.
Green energy is is elelectricity where at least part is generated through renewable methods such as wind, turbine, etc. Although the electricity supplied to your property is the same as before you switched, the company that supplies it will generate the equivalent amount of electricity that you have used through renewable means which is put into the national grid. No work is required to your property in order to change to a green energy tariff.