Are dual-fuel fares always cheaper? If you’re looking to save money on your energy bills by switching to a new supplier, one of the decisions you’ll need to make is whether to choose between two separate tariffs for your gas and electricity, or one tariff. ” dual fuel ”.
With the first one, you get your energy from two different suppliers. With the latter, the two types of energy are grouped together under a single contract and managed by a single supplier. Here we take a closer look.
What are the advantages of a dual fuel tariff?
A single invoice: one of the great advantages of a bundled rate is the fact that you only get one bill. This can make it much easier to manage and control your energy account and means less paperwork and administration.
A point of contact: another big advantage of a dual-energy tariff is the fact that you only have one point of contact for your gas and electricity. This can be a real help if you have questions or if something is wrong. Dealing with two vendors can take a lot longer and involve a lot more hassle.
Can work cheaper: getting both your gas and electricity from the same supplier, this is because it can often be cheaper than having two separate tariffs with two different suppliers.
You can see that there is a discount for doubling with the same company. In some cases, you can even get cash back per dual-energy switch.
Are dual-fuel fares always cheaper?
That said, although dual-fuel fares can often be cheaper for some households, you should compare offers carefully and do your math. In some cases, you could save money by separating the two fuels.
What to pay attention to …
Check the exit fees: Before subscribing to a bi-fuel tariff, it is worth checking if there are any exit charges. Exit fees – or cancellation fees – are charges levied for exiting a fixed rate plan prematurely.
With some dual fuel fixed rate offers, you may find that there is an exit charge of £ 30 per fuel. If so, you would face a total of £ 60 for leaving the supplier in advance.
You will need to take this into account if you want to downgrade to a cheaper rate later, before the scheduled end date.
Does it require a smart meter? Some energy tariffs require that you have a smart meter, and this may include some bi-fuel fares. If you do not already have one of these meters, you will need to install one. The good news is that your new supplier will organize this for you.
A smart meter displays energy consumption on a device and displays it in pounds and pence in near real time. Any of these devices can help you take control of your energy use, helping you cut – and thus reduce, bills.
The devices also send information about your gas and electricity directly to your energy supplier. Smart meters are currently being rolled out to homes in Britain, and government rules state that energy companies must offer devices to all homes in England, Scotland and Wales by mid- 2025.
Switching to a dual-energy deal should be easy
If you’re looking to save money on your expenses by switching your energy to bi-fuel, the good news is that the process should be really straightforward. In fact, it should only take about five minutes to start saving on your gas and electricity bills.
Start a comparison bi-fuel prices made available to you, via a comparison site. You will first need to enter your postal code and some details to find the most suitable quotes.
Compare factors like cost and possible exit fees if you abandon a fixed rate plan early. Once you have selected a tariff, the supplier will take care of the energy change.
Will there be an interruption in my service?
When you switch from one energy supplier to a bi-fuel tariff or to two different suppliers, you don’t have to worry about your supply being disrupted because you will get the same gas and electricity through the same pipes and cables.
It is up to your new supplier to organize the transfer. You will also have a 14 day cooling off period if you change your mind.
Other ways to save energy
In addition to moving to a new business and switching to a bi-fuel tariff, there are several other simple steps you can take to keep the cost of your gas and electricity bills down.
Choose a fixed rate. In general, fixed rates are cheaper than the default or standard variable rates
Consult the rates “online only”. With this type of agreement, you will not receive any paper invoices. These can often be among the cheapest deals
Pay by direct debit. It is usually cheaper to pay by monthly debit than it is to pay quarterly by check or cash, which can trigger an administrative fee.
Invest in an energy monitor. You may be able to buy a base model for less than £ 20. Once you have one, you can save up to 15% on your annual fuel bills, thanks to better knowledge of usage, according to the Energy Saving Trust.
Be more energy efficient. Take steps to use less energy in the home, such as lowering your thermostat by 1 degree Celsius, turning off lights when you leave a room, switching to energy-saving light bulbs, and not leaving gadgets or devices behind. devices in standby. draft shields for your doors, by placing draft strips on your windows and boiling only the amount of water you need in the kettle, rather than filling it to the top edge.