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I’m quite a stickler for money saving, as my readers will know. I love being able to cut back the household bills in order to have more treats in life. Whether it is a break to Centerparcs, treats for my friends & family or just having a nice emergency fund money saving is important to me. Anything that can help me save a few pounds per year is great. In the past, I have always looked to change to a fixed tariff, once per year, every Winter. This would allow me to move tariffs and suppliers, without a fee to pay, and hopefully, find a similar or even cheaper supplier and tariff. Then I started to hear more about tariffs from energy suppliers that weren’t the ‘Big Six’. I was amazed at the savings that could be made. Once I got over my fears about a supplier going bust and learned that Ofgem would move me to another supplier, without a loss of supply, I decided to make the leap to Bulb Energy, an energy supplier I had never used before. It has been 6.5 months since I switched and I’m back with the facts and figures on what I have saved in just 6.5 months!
I saved £137 switching energy tariffs & you could switch and get £50 credit!
Firstly I started by proving an accurate meter reading to my current energy company. This means that I can get an accurate picture of the energy that I use per month or even per year. I prefer to work with a yearly figure, for the most accurate savings. Also, energy use will differ throughout the year, depending on heating requirements etc, so it is best to have an accurate annual figure to see what you can save per year. Any saving will be even larger through the Winter months and you want to take this into consideration. I joined Bulb Energy in November 2018 and therefore the bulk of my Winter heating use was during the last 6.5 month period since I completed my switch to Bulb Energy.
Once I had my annual usage for gas and electricity I was ready to begin switching energy tariffs. I did do a check on the Big 6 providers, just to see what they could offer me. EDF, which was my current provider, was offering me a tariff that equated to £1095.84 based on my previous 12 months usage. This is £91.32 a month. Bulb Energy was offering me a tariff that equated to £802.34 (£66.86 a month). As we have used slightly more heating in some of the milder months we have spent £442.25 in 6.5 months, which is £68.04 a month. This equates to £816.48 a year and means that for the last 6.5 months we have saved £137 approximately.
I’ve had a look back at the prices on offer now, in June 2019, and this is how much cheaper Bulb Energy is for me:
Bulb: Electricity – 13.59p per kWh / 20.44p standing charge
Bulb: Gas – 3.37p per kWh / 20.44p standing charge
Previous supplier: Electricity – 18.58p per kWh / 23.78p standing charge
Previous supplier: Gas – 4.077p per kWh / 26.52p standing charge
As you can see the difference of the variable tariffs is quite large.
How I saved money by switching energy tariffs
It is easy to see, from the above how I saved money. Also, in the time that I have been a Bulb Energy customer my tariff has changed, dropping several times. In addition to this, the electricity that I use is now 100% renewable electricity from a mixture of generation types including wind, solar and hydro. The gas we use is 100% carbon neutral, with 10% being green gas. This is a HUGE improvement on the energy we were using with our previous few suppliers in 2016 – late 2018.
Previously this post existed, with a similar amount of money saved, however that was for 12 months of switching from one supplier to another. With 12 months as a Bulb Energy customer I should save approximately £279!