Compare & Switch To A Better Energy Deal This Season

Why is comparing energy suppliers important?

The reason why it is so important to compare energy suppliers is because it can help you pay less. Why pay more for something when you can opt for a cheaper alternative? At Bill-switchers.com we go through our huge database and offer you an accurate and unbiased comparison of all available cheap energy deals in the UK. The process is completely free and all it takes is for you to fill out a ten seconds form. Our experts also guide you through the process and help you make the most economical decision for yourself. In this way, you can get hands on the most exclusive deals in your area and choose the cheapest energy supplier for yourself.

What are energy tariff comparison rates?

While comparing different energy tariffs and choosing the one that’s the cheapest is much easier now, it wasn’t always the case. Previously, energy companies were known for overcomplicating their tariffs and having way too many options available on the market. This led to consumers hesitating and fearing the process and never making a move to switch their energy supplier. Of course, this meant that many households were paying far more than they could have. That’s when energy regulator Ofgem stepped in and developed an energy comparison formula which made it easier to compare all the various energy deals available on the market.

How we make energy tariff comparison simple for you!

There was a time when comparing tariff rates was confusing. Not only were there a lot of tariff options available on the market, the rates for them were also hard to understand. There were rates on standard charges that looked like they were completely random and then these tariffs also came with a range of rates that were based on tiered units. All this made for a very complicated ordeal for consumers.

That’s why the Retail Market Review by Ofgem was started back in 2010. It consisted of an investigation with the goal of making the energy market clearer for the consumers. There were many great outcomes of this review. One of them was to prohibit energy suppliers from offering rates that were hard to understand and overly complex. This helped make things easier for consumers and help them make a better choice. Another outcome was the launching of a tariff comparison rate. This translated tariff costs into what we now know as p/kWh (per kilowatt hour). With that unit in place, comparing tariffs became easier.

Tariff comparison rate explained:

The intention behind the tariff comparison rate was to make it easier for users to compare electricity and gas tariffs. This helped particularly when comparing different deals with various different energy providers.

The tariff comparison rate (TCR) was a unit that reflected all that the user needed to know. All the factors that contribute to the final tariff cost such as discounts, standing charges and unit rates were all considered when calculating the TCR. This made tariff comparisons infinitely easier. That’s because instead of looking at various different aspects, the consumers just had to compare TCRs. By simply comparing the TCR of one tariff with another, whether from the same or different suppliers, the consumer could tell which one was cheaper. This helped consumers make informed decisions and cut down on their energy bills.

Ofgem also made sure that energy suppliers printed all tariff comparison rates while communicating with customers, so that they would be able to choose the cheapest energy deal for themselves. A good energy deal would be one where customers are able to fulfil all their needs while also saving on their bill and tariff comparison rates greatly helped in that matter.

How is tariff comparison rate calculated?

TCR soon became the one-stop solution when it came to calculating tariffs. But how was it done?

By multiplying Ofgem’s average rate of consumption (3,100 kWh for electricity and 12,000 kWh for gas), then adding a standing charge for a year, taking out any available discounts, adding VAT at the current given rate and finally, dividing that figure with Ofgem’s average rate of consumption, is how you get the tariff comparison rate.

Why was the tariff comparison rate abolished?

Unfortunately, despite the few apparent advantages, the system of tariff comparison rate was flawed. One huge reason for that is that it only considered the basic cost factors. While prices make up a large percentage of people switching energy suppliers, that’s not all there is to it. Other factors like customer satisfaction also need to be considered when determining the value of a tariff.

That’s why in 2017 the tariff comparison rate was removed after consultation with both the energy regulator and the Competition and Markets Authority on the basis that the TCR did not help consumers make fully informed decisions.

How do we properly compare energy now?

Now that there is no tariff comparison rate, once again the task of comparing energy seems daunting. Many think it’s hard to do so which is why they never switch their energy suppliers, instead of continuing to pay more than they need to. There’s one efficient solution to this - energy comparison sites like Bill Switchers that can help you solve this issue.

We do all the hard work for you…

All you have to do is fill a ten second form, and we will go through our database of hundreds of gas electricity & dual fuel deals to find the one that suits your needs best and is the cheapest available deal on the market. These are also fully tailored to you, where you live and the energy supplier you currently have. We also provide you with comparison data, so you clearly see how much you are saving by switching to a new energy supplier.

Get the best energy deal for you!

Switching your energy supplier is not as hard as many people think. It’s also very beneficial as it helps you save hundreds of pounds on your energy bills every year. Ultimately, with so many energy suppliers offering so many deals, it gets harder to choose the right option. That’s why our experts at Bill-switchers.com guide you in making the right decision.

Once you’ve decided on your new energy supplier, we take the responsibility of setting everything up. We contact both your new and old energy supplier in order to get the wheels in motion. The entire process is simple and usually does not take more than two weeks.

So, are you paying more than your neighbour? Do you want to cut down on your energy bills this winter? If yes, then maybe it is time to change your current energy supplier. Start comparing all the energy deals available to you, through us, and easily get your hands on the cheapest energy supplier in the UK!