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As I am writing this, I really don’t want to tell you what I have been up to but I am so excited. I really feel I should tell you and if I don’t tell you, you may not be able to save money either!
Out of the blue, the broker I used to negotiate my energy contract called to quote again this month. My energy contract it is up for renewal this year but not for another three months and for whatever the industry reason, brokers can quote sooner than your actual current supplier.
Six steps towards money-saving energy
Get out your old energy bills and look at your kWh usage
Know exactly what rate per hour you are paying and what system you have
Search for quotes online or by telephone
Don’t be fooled by a reduction in standing charge
Ask for exactly what you want and see what they can do!
Don’t accept the first great offer, negotiate
Now lets call him Jim; he was polite but pushy and offered me quite a good deal, selling a 50% drop in standing charge which sounded fantastic but sadly was only going to keep my energy bill down by pence. He explained this is only one part of any energy quote, as both day & night rates had increased.
So here is the key to my smiles. Jim originally quoted a standing charge of 15p, day rate of 10.64kwh and a night rate of 5.67kwh, combined a great quote. Looking at my bills again I realised that standing charge is a small daily fee and whilst I appreciate a reduction it’s the kWh usage that will affect the amount I pay.
My energy usage (kWh) is made up of two-thirds day rate and one-third night rate. When Jim called back I asked him for a better day rate figure in the mix and I was willing to pay more for night rate to which he replied “that’s the best deal, I can do.”
I pressed him further: “No energy company has a better day rate?” Jim was encouraged by the possibility of my switching supplier so I explained that whilst I was completely happy with my current energy supplier, like all businesses at the moment it is about constantly reducing running costs where possible.
So I have changed supplier and from this June will be paying a standing charge rate of 19p, day rate of 9.63kwh and a night rate of 6.63kwh fixed for three years, this secondary quote I estimate saves me around £300 a year.
Sadly this only applies to those of you who have a two rate energy system, but the process will be the same regardless who or how you get your energy.
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