The British media have been openly critical of the ‘Big Six’ energy companies and their price fixing activities in the past, whereby they worked together to raise the industry prices to give the illusion of the market price.
In 2009, these six energy companies owned an incredible 99.8% of the UK energy market: British Gas, EDF Energy, Npower, E.ON, Scottish Power and SSE
In this guide to long term energy bill reduction investments, we will walk you through all of our recommended gadgets, upgrades and installations for reducing your energy bills in the long run.
One of the most frequent feelings that we hear from our customers is ‘My energy bill is too high’. It makes you feel helpless, and that’s why we are here, to provide a solution.
Understanding the fluctuations in your energy bill price may sometimes feel like some sort of complex secret that the companies don’t let you in on.
It doesn’t have to be that way, you can figure out most of why your prices are rising or falling by asking yourself these questions anytime you ponder ‘Why is my energy bill so high?
Are You Conserving Energy?
Making deliberate efforts to conserve energy is one surefire way to get the bills down. Doing things such as improving insulation, turning lights off when you’re not in the room and turning appliances off at the wall rather than leaving them on standby can have a great long-term effect.
We get it, expensive bills keep coming through your letterbox and you’ve finally said ‘Enough is enough, how do I change my energy supplier?’.
Well, My Energy are here to tell you exactly what you need to know and have to be able to make the switch. It’s important when changing supplier to be fully aware that your energy bill is not a tax, and shouldn’t be treated as something that just ‘gets taken’ from your bank account; you have the power to reduce the fees.
Your home is your castle, it’s where you rise in the morning, and where you fall to sleep at night.
Every castle needs to be properly maintained to keep it in good order, to keep a strong defence against the outside elements. Whilst your castle may look more like a semi-detached house, you can apply some of the same theories and methods to making your home energy efficient, leading to four awesome benefits.
If you’ve just moved house, rented an apartment or taken a room in a house share, it’s quite possible that you don’t know the answer to ‘Who supplies my energy?’.
Perhaps you don’t need to worry, especially if you have a landlord who sorts the bills out themselves, however, if you’re asking yourself ‘Who supplies my energy?’ because you’re looking to get a better deal, you’ve come to the right place…
If You’ve Just Moved House
On top of moving home, removal van fees, heaps of paperwork and new mortgage figures to pay, the last thing anyone needs is over-inflated energy bills! When people leave a property, it’s their responsibility to inform the energy company, but a lot of the time they forget.
Once upon a time in 2014…
Ofgem, the government regulator for the gas and electricity markets in the UK, announced that it was investigating the Big Six energy companies (British Gas, SSE, Scottish Power, Npower, E.On and EDF) for profiteering.
Ultimately, the eighteen-month investigation found that the Big Six were overcharging £1.7bn a year, roughly £234 a year per household, but Ofgem bowed to pressure from the Big Six and placed the blame on consumers.