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A Guide to Dual Fuel Tariffs and Finding the Best One for You

Energy consumers in the UK are always scouting for affordable deals in the market that will give the most value for money and reliably provide the power they need whenever they need them. Dual fuel packages are some of the popular deals that many customers avail for convenience and ease of use.

 

Here’s a guide to help you discover dual fuel tariffs and how to choose the most suitable one that matches your requirements.

 

What is Dual Fuel?

 

Dual fuel implies that you get both gas and electricity supplies from a single energy provider. Most of the tariffs from different suppliers are designed to be dual fuel, which lumps both electricity and gas consumption into one contract.

 

Dual fuel provides a unique arrangement that lets you conveniently contact, pay, and manage your account to only one energy supplier.

 

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According to an investigation led by the Competition and Markets Authority (CMA), 20 million customers were availing of dual fuel as of January 31, 2016. Convenience is the primary reason why customers choose dual fuel tariffs, although it does not necessarily mean that they are the cheapest deals in the market. As of June 2019, 56 suppliers are offering dual fuel tariffs.

 

Energy suppliers can arrange discounts for dual fuel tariffs, but you may find the savings to be small based on your overall bill. They can offer cashbacks, percentage discounts, cheaper KWh unit rates, and lower standing charges at any given period.

 

However, tariffs are subject to change at any time depending on industry regulations, so it cannot be said for sure that such deals are more economical than buying separate gas and electricity supplies.

What are the benefits of dual fuel tariffs?

 

Aside from potential savings gained from dual fuel, there are other benefits you can get by switching to this tariff.

Convenience – You will only be receiving one energy bill for both your gas and electricity supplies rather than having them separately, making it much easier to manage your finances.

Single meter – Having separate meters to monitor energy usage can be cumbersome. With a dual fuel tariff, you can use a single, smart meter that reflects your consumption so that you can control your usage.

Single point of contact – It only takes one phone call to your energy company when you encounter any problem or have enquiries with your supply.

 

How do you switch to dual fuel?

 

Switching to dual fuel is a straightforward process. The first thing to do is compare tariffs from different energy suppliers and choose one that fits your budget and needs. There are many options to choose from that can become daunting. However, you are protected by the Energy Switch Guarantee, which lets your new supplier handle the switching process within 21 days from your application.

 

If you are previously on a fixed term tariff, you might need to pay cancellation charges if you switch before your contract ends.

 

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Should you decide to go ahead with the transfer, you won’t lose your gas and electricity supply and can use power as usual. Your new supplier will resolve any issues with your former supplier as quickly as possible.

 

If you are previously on a fixed term tariff, you might need to pay cancellation charges if you switch before your contract ends.

 

You will also be given a 14-day cooling-off period if you opt to stay with your former provider.

 

How much can you potentially save on a switch?

 

You can’t directly assume that switching to a dual fuel tariff can help you save up on your monthly bill. Depending on the supplier and the type of dual fuel quote you choose, you can save a sizeable amount by switching to a dual fuel tariff.

The British Gas’ most popular tariff accounted for 14.03% of customer switch, saving an average of £292.21. E.ON’s highest saving tariff called the Fix Online Exclusive Plus helped save £506.23 on average.

 

Customers with an age range of 30 to 39 were likely to do a switch, which earned savings of up to £314.85. You can potentially get a considerable amount of savings to your energy bill by switching to dual energy tariffs.

 

What else should you know?

 

Before deciding on a switch, ensure that you get the best quote that will suit your requirements and budget. You should also thoroughly review the contract and clarify any doubt by calling your new provider to ensure that every detail of your arrangement is ironed out.

 

You can use a comparison website to help you inspect tariffs from more than 50 suppliers in the UK. Energy regulator Ofgem is working closely with utility firms to streamline services and clarify the dual fuel switching process further.

 

 

 

 


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