If you live in London and want the cheapest energy bills for your gas and electric supplies then read on for information on how to achieve this.
The incumbent supplier used to be the London Electricity Board who no longer exist since 1998 when they were acquired by EDF Energy who are the main London electricity and gas supplier.
The LEB was the government utility company until the market was deregulated so if you haven’t done anything with your bills since then you may have EDF as your supplier but you have the option of choosing one of the main 6 electricity companies for energy supplies and it’s a simply process to find the cheapest prices.
Lowering your energy prices in London
You don’t need to use your current supplier and if you are simply on a standard tariff then you’ll almost likely save money by either switching to another provider or a different tariff. Here’s how you can do this in less than 30 minutes and perhaps save several hundred pounds per year on your bills.
It really is that easy to get new quotes and switch suppliers.
What else should I be aware of ?
If you have recently switched suppliers in London you may have a termination fee to pay but this is only for some contracts, normally fixed price tariffs so just be careful as it may be more difficult to switch.
Switching between companies is very easy and the new company you choose should do all the paperwork and switch over for you so it will all happen almost automatically. Just be up to date with what’s going on so you can take final meter readings yourself just in case something doesn’t quite go to plan.
Also check gas and electricity prices separately as well as dual fuel tariffs. Sometimes a dual fuel tariff is not always the cheapest but most energy companies let you have additional discounts by taking both electric and gas together.
Other ways to save money
Almost certainly you will save more money if you pay your bills by monthly direct debit sometimes up to a 10% annual discount if you pay in this manner. Other incentives that the energy companies offer are nectar points (although this should not be a reason to choose tariffs — always choose on the annual pricing).
Further discounts can be had if you sign up for the prices online and manage your account by not having a paper bill and submitting your own meter readings on the energy company’s website.
At the time of writing British Gas is the cheapest provider for London electricity and gas energy although this may change as prices in the wholesale market fluctuate.