What type of energy deals are there?
There are plenty of great deals on the market, so comparing energy prices is a great way to save money, but it can also be confusing.
What is Standard variable tariff (SVT) ?
An SVT is your provider's default tariff and you'll automatically move to this when your deal ends. It's usually quite expensive, so if you're on an SVT now, chances are you could save money by comparing energy prices and switching to a new deal.
What is Fixed rate tariff ?
A fixed rate tariff will set your price for a certain length of time. The amount you pay per unit of energy stays the same while you're on a fixed rate, so your bills will only go up or down if you use more or less gas and electricity. It protects you from price increases, but you won't benefit if prices fall .
What is Prepayment energy tariff ?
Prepayment energy tariffs use a prepaid meter in your home, which you'll have to top up. You usually do this using a card or key that you can load with credit online, over the phone, or in local shops.
Whats is Dual Fuel Tariff ?
Dual fuel tariffs cover your gas and electricity. You'll only have to deal with one supplier for both and it could work out cheaper than separate deals. That's not always the case though, so you might want to compare gas and electricity separately to get the cheapest energy you can.
What is Economy 7 tariffs ?
You'll pay two prices for your electricity on an Economy 7 tariff - one for night time and one for day. You'll need an Economy 7 meter that separately measures seven off-peak hours at night when energy is cheaper. The other 17 hours will be classed as peak time and more expensive.