We have all been in the situation; the gas or power bill comes through the post and the increase in bills almost makes you let out a cry on behalf of your bank account. This situation will only ever increase in frequency as the world’s natural resources deplete and more power is required by the increasing population. So what do you do about it? Grin and bear it?

Initially, what you need to do is read the bill. It sounds simple but may companies issue confusing and misleading statements that can be hard to understand. Make sure that you can find out exactly what you are being charged for and how much. If your statement is difficult to understand, call your supplier and ask for help in identifying costs, or visit your local Citizens Advice Bureau for advice.

Next, you must check your meter reading yourself. You may have signed up to an expected usage tariff which bills you on what you are likely to use based on an average of your previous usage; which could mean that you are either paying too much or too little. The refund process should be relatively straightforward and a call to your supplier(s) should point you to which direction to take first.

So everything on your bill and meter adds up, the next thing to do is to either call your provider or view their website to look at the different tariffs they offer to see if there is a tariff more suitable to you. Be sure to research the financial benefits and constraints to each tariff as some may look cheaper initially, but actually become more expensive when things have settled.

It is very common for utility providers these days offer an internet tariff to consumers which are very similar to the standard tariffs but without the paperwork. This option could save you 10% on your monthly bill payments, so bear that in mind.

In many cases, direct debit bill payments can help to reduce bill costs as the provider will know that you will not default on a payment, or make a late payment. The provider will also be able to gain interest payments on your overcharged bill until the matter is resolved.

Understandably, negotiating the contracts between you and your utility provider(s) can be stressful. It may be the case that you will not make any savings at all by discussing other options with them. If that is the case, consider changing providers. Don’t always assume that duel fuel providers are the answer as, in many cases, independent gas and electricity providers can be cheaper.

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