If you looking to take advantage from the latest plug in, energy efficient electric radiators then it is vital to ensure that you are supported by the most aggressively priced electricity tariff. We estimate that around 50% of UK households are paying approximately 30% too much for their electricity. In turn no matter how efficient your radiators are if you are paying a premium for your electricity then your central heating system will be costing you more than necessary. Shopping around for your electricity supplier When it comes down to energy shopping around 1.1 million customers switched electricity suppliers between January and March this year. This is an 8% increase upon an identical period from the previous year. What is even more thrilling is that around 52% of those moved to independent suppliers, further displaying how the energy market has opened up in competitiveness. Through a quick energy comparison website you can quickly obtain the best energy deals online. It takes less than a minute and does not involve any in depth data entry, initially all that is required to enter the comparison search is your post code. Energy tariffs in short            Online tariffs This is becoming an increasingly popular product domain which regularly offers an ancillary money saving opportunity to customers. As you may of guessed through opting towards an online tariff you are effectively creating savings through managing your accounts online. It is believed that amongst the ‘big six suppliers’ there are currently over 3 million actively managed online accounts. Renewable tariffs We are becoming more socially aware of our habits and lifestyle choices and what impact they convey to the environment. For many of us this has a large influence when it comes to considering a product, whether that be a car, an electrical appliance or importantly an energy provider. The green demand has enabled smaller scale green based suppliers to gain a foothold into the market, with many larger suppliers taking note and now also inserting green based products into their tariffs in an attempt to retain environmentally conscious consumers. Standard tariffs A standard tariff is usually presented as a suppliers default tariff. Prices per KWH routinely fluctuate in particularly over winter of which you will have no control over. Fortunately there aren’t any penalty fees for leaving a supplier. This is fantastic if you regularly scour the market for the cheapest deal and prefer the flexibility of not being tied into a long term deal which often carry a 12 month minimum contract. For others this won’t be a suitable option and you may be more attracted to a fixed term energy tariff. Fixed energy tariffs A fixed tariff is fairly self explanatory. Standing charges and prices per KWH are commonly secured until the contracts expiry date. There are a proportion of fixed rate tariffs that include an exit penalty fee if you leave the contract prior to the expiration date. However under a new Ofgem ruling your energy supplier is exempt from requesting any exit charges on the condition that you switch energy providers 49 days prior to the termination of your contract. A fixed energy tariff is usually preferred by consumers searching for the cheapest deal as traditionally they provide more competitive rates over a standard tariff since the energy supplier know that they will have your business for a minimum of 12 months. Of course there is an unfortunate possibility that if there is a sudden price drop you won’t be entitled to the lower rate since you have agreed a fixed price contract. One thing to keep an eye out for is that if you dramatically increase the quantity of energy you consume there is a change that the amount you pay will increase. It’s important to remember that a fixed energy tariff merely guarantees the standing charge and price per kilowatt hour. What makes up Britain's energy market? In the UK there are currently (as of March 2016) 44 competing energy suppliers in the domestic market, 3 of those solely supply electricity. Since the rolling out of competitors during the late 1990’s customers have had the opportunity to chop and change suppliers as they see fit. Most of the electricity generated in the UK is produced from large power stations connected to the national transmission network. However over the last few years we have seen a surge in renewable electricity generation. For these green based sources electricity is usually connected to low voltage regional electricity network. At My Electric Radiators we pride ourselves in offering the best electric heating advice. From finding the most suitable electric radiators for your properties specification, through to the installation phase and even energy supplier advice. If you would like simple no nonsense advice surrounding the latest economy electric radiators then simply call 01423 619303 where you will be greeted by a friendly electric heating expert whom will be happy to help you with any queries no matter how large or small.