The Tariff is the rate at which you get charged for your energy. There are various tariffs followed in the market. Choosing the right tariff can help you reduce what you pay for your energy. In order to work out which tariff works best for you, you need to understand-what the different tariffs are and how they work.
Here are some of the popular energy tariffs which are generally followed in the market:
Standard tariff: This is your energy supplier’s ‘default’ or ‘evergreen’ tariff. It will have variable prices that can go up and down with the market. These tariffs do not have exit fees for leaving and your contract will have no fixed end date. This tariff is a good option if you want flexibility and don’t want to be tied down to a contract.
Fixed energy tariff: This tariff usually offers guaranteed standing charges and unit rates, until a defined end date. Some fixed tariffs will have an exit fee in case you leave before your contract end date. A fixed energy tariff is a good option if you want peace of mind. This tariff helps you to avoid energy price hikes. Rather than never rising above a certain point, the price of energy remains fixed for the duration of your tariff.
Dual Fuel Tariff: Dual fuel means that you use the same energy supplier for both your gas and electricity. This takes out the hassle of dealing with multiple accounts and energy companies and will also save you money on your energy bills. Many dual fuel tariffs also offer a discount for taking both gas and electricity from the same company.
Capped energy tariff: This tariff give you a guarantee that the price of energy per kilowatt will not rise above a certain point for a fixed period of time, regardless of any price rises that your energy supplier may announce. Capped energy tariff protects you from volatility in the market place and unexpected bills. Usually, capped energy tariffs are more expensive than ordinary tariffs since prices are almost guaranteed to rise during the duration of your contract. However, if energy suppliers decide to cut its standard energy price, then you can benefit from the drop in rates too.
Online energy tariffs: These tariffs require you to manage your account via the internet. In such a tariff, you will usually be asked to send meter readings online in return for a discount to your gas or electricity. Your bills will be sent as attachments to emails or will be available to download from your personal account area on the supplier’s website.
ExtraEnergy is one such energy supplier in the UK which offers best tariffs to its customers. For further details regarding tariffs offered by them, you can call on Extra Energy Contact Number.