Energy Companies set to become more Transparent
It is set to be revealed today that energy firms in the UK will be forced to reveal what their best deal is to customers in a move that could save students up to £100 a year.
Under the new ruling (pushed through by none other than Nick Clegg) customers will be able to demand the best deal for them and be offered it when they ask. This could benefit around 7 out of 10 people in the UK who are currently on the wrong price plan despite sites like Save the Student! helping students to get the best deal on their energy bills.
Customers will be informed once a year about the best tarriff for them based on the previous years bills and usage. You will also be able to ask your energy company at any time what the best deal would be for you and they will be required to tell you.
Recently, EDF has announced that it will tell its customers of any deals from other suppliers are cheaper with its blue price promise. This means that if you take out this deal, EDF will notify you when a competitor is able to beat the price by over £52 for the year and allow you to switch for free.
You may have seen the slightly disturbing advert on the TV with what can only be described as an orange sherbert ice cream (pictured above).
All in all, this new initiative could help save student households up to £100 a year and Save the Student! is in full support.
It will be interesting to see how the scheme works when it is introduced in Autumn this year. When the full details are released the information will be published on this site as well as more ways to save money on your energy bills.
Make sure you take a look at the accommodation section of the site to sort out your student bills for next year in order to get the cheapest tariff.