Consumers advised to switch energy suppliers in pursuit of cheap prices - 05/01/2009

Consumers in the UK should switch energy suppliers to pursue cheaper prices, although fixed-rate contracts should be avoided, reports the Daily Mail.

All the UK's major energy suppliers have increased their prices over the last few months, but reduced wholesale costs mean that prices may come down in the near-future. Consumers should certainly shop around for better deals, but fixed-rate contracts will result in households missing out on short-term price reductions.

The paper advises homeowners to use the internet to search for the best deals, as online customers are usually offered cheaper rates. In addition, looking for both electricity and gas from the same energy supplier is likely to bring costs down even further, while arranging direct debit monthly payments will usually save ten per cent on annual bills.

Pursuing energy efficiency in the household is also a good way to access cheap energy rates. Installing insulation to cavity walls and lofts can produce savings of £160 a year, while energy-efficient boilers can save nearly £350 a year.

Mark Todd, of energyhelpline.com, said: "UK households can fight back. Using a switching service they can compare energy prices and switch gas and electricity to a much cheaper option. The average customer can save up to £378 in a few minutes."

If you want to find out more about how to compare energy suppliers and save up to £378 in minutes, click here.