There are several reasons that some energy suppliers end up being cheaper than others. The largest energy companies, also known as the Big Six, often do not need to offer rates that are as competitive as smaller companies. This is because they are more recognisable names and therefore can always rely on a steady base of customers. You can avoid this and save money by switching to a cheaper provider.
But they are not pessimistic about the sector. “The good news is that renewable energy has – at least on a levelized cost of electricity, or LCOE, basis – clearly achieved the long-awaited goal of grid competitiveness,” they say. Both onshore wind and solar projects have won auctions, in Morocco and Chile respectively, with bids of $30/MWh or less in the last 12 months. “These must be the lowest electricity prices, for any new project, of any technology, anywhere in the world, ever. And we are still going to see further falls in equipment prices,” they assert.
When comparing electric generation suppliers you need to know the Annual Price-to-Compare and the Average Annual Cost (cents per kilowatt hour or kWh for short) that a supplier must beat (compared to DP&L's standard offer rate) in order for you to save money. In other words, the Annual Price-to-Compare is the amount that you no longer have to pay to DP&L when you choose an alternate electric generation supplier.
Utility companies are responsible for transmission and delivery of electricity even in energy deregulated parts of Texas and should be contacted in the event of a power outage. Your retail energy supplier may provide you competitive electric rates or exceptional customer service, but they cannot repair power lines or restore your service. In the case of an emergency, contact:
This is one area where going green and saving money diverge. The cheapest renewable tariffs tend to cost more than the cheapest standard tariffs, so it really is a question of your personal politics. However, if you can afford to go renewable, then it's a help to the environment, and all the main comparison services allow you to compare renewable tariffs.
“We hope that 2017 marks the year when the world gets serious about protecting its increasingly digital and connected infrastructure – whether that is from malicious attacks, technical failures, or unpredicted weather impacts or spikes in demand. If we are wrong, we worry that the world will get a sudden and very unpleasant wake-up call – if not this year, then some time soon.”
You should also check your tenancy agreement – but even if your contract bans switching, Ofgem's guidance on this states that if you pay the energy bill, you're still entitled to change supplier any time. You can still compare on Cheap Energy Club if you don't have the former occupants' bills, just hit the "don't know" button when you enter your usage.
Fixed-rate, long-term (contract) plans provide stability in electricity rates. If market energy costs suddenly trend upward where you live, you can rest assured that you won’t have to pay more out of pocket. However, if you want to switch to a different, lower-cost plan before the end of the contract term, you’ll likely have to pay a cancellation or early termination fee.