Energy prices are the highest they’ve ever been, and the ‘big six’ seem intent on squeezing every last penny out of homeowners and businesses.
But are consumers missing a trick? Could you save money with a dual fuel energy tariff? Is dual fuel cheaper?
Dual fuel energy tariffs combine both gas and electricity energy sources into one tariff. The point being that consumers can save money by doing so – a discount if you like. But energy suppliers don’t always make it clear how much you could really save by opting for a dual fuel tariff and there’s a lack of valuable information about the savings elsewhere. This is why we created this guide – to help you make an informed decision about whether or not dual fuel is right for you.
If you think you are paying too much for your current energy deals, a dual fuel energy tariff may be the right thing for you – the best thing you can do at this stage is discuss your concerns with your energy supplier. You may be able to negotiate a better deal for your energy if you are out of contract. Alternatively, you can use price comparison websites to find the latest and best energy deals – the likes of Money Supermarket and uSwitch are invaluable during this process.
What is dual fuel?
Quite simply, dual fuel is where you receive your gas and your electricity from the same energy supplier, rather than two suppliers.
You still have two accounts – one for gas, and one for electricity – however you may receive a single bill with a breakdown of your energy use.
What are the benefits of dual fuel?
Dual fuel energy tariffs have three main benefits:
Discounts: British Gas offer a £15 discount per year off your energy bill with dual fuel, while E.ON offers £20. Convenience: It’s easier to keep track of how much you’re paying with a dual fuel tariff, as you only deal with one energy company. Easy account management: You will be able to manage both your gas and electricity accounts in one place.
What are the downsides to dual fuel?
The only downside to dual fuel is that you may or may not save money by opting for such a tariff; whether you will save money depends on who your energy supplier is – the big six offer discounts for dual fuel tariffs however some independent energy suppliers do not. So always do your research.
Is dual fuel cheaper?
Most of the time, dual fuel does work out cheaper than gas and electricity from two separate suppliers – but this is not because of the initial discount, as some people believe.
The real reason that dual fuel works out cheaper is because, quite simply, a single energy supplier can afford to take a slight hit just so you don’t take your gas or electricity needs elsewhere – suppliers may wrap dual fuel up with glossy money-saving paper to show how they care about customers, but it’s all about business, really.
How much could I save?
On top of the £10 – £30 annual discounts for choosing a dual fuel energy tariff, you could save around £50 – £150 per year with a combined gas and electricity account. You can reasonably expect to save at least £5 to £10 per month if paying by Direct Debit on a duel fuel energy tariff.
Who offers the best dual fuel energy tariffs?
Energy tariffs come and go – and what rates you get depend on whether you’re a new or existing customer to your energy supplier.
The big six – British Gas, EDF, E.ON, Npower, Scottish Power and SSE – all offer dual fuel energy tariffs for new and existing customers. Smaller, independent energy suppliers who offer dual fuel energy tariffs include Better Energy, Co-op Energy, Good Energy, Ovo Energy, Utilita and Woodland Trust Energy. You may be able to get a cheaper, fairer deal from independent suppliers – give them a call with our contact numbers below.
How do I switch to a new dual fuel supplier?
We’ve actually already written a handy guide just about this. Basically, you’ll need some basic information about your account and then you need to contact your existing and new energy supplier to tell them about your intentions to switch – it really is as easy as that.
Comparing prices for gas or electricity – Citizens Advice.