With electricity prices up 21% in the last year (Sep' 2010 €" Sep' 2011) customers are shopping around more than ever. And they are looking for alternative suppliers to the Big 6 of British Gas, EDF Energy, npower, E.ON, Scottish Power and SSE. So who are some of these new kids on the block and what are they offering?
1) OVO Energy
They have been getting the headlines through their low electricity prices and fixed price plans. And their simpler tariffs (they only have 2 of them!) correspond to OFGEM's wish for clearer tariffs and bills. Also they have received plaudits for cancelling plans to increase costs for variable rate customers when their own wholesale costs for gas and electricity dropped.
2) Ecotricity
Perhaps the greenest of all energy suppliers, their electricity prices are also pretty competitive. Their green credentials are based partly on the amount of the total electricity they sell that is created by renewables. In 2007 it was 24.1%, this year 51%. And they hope to reach 60% in 2012. Their other prominent green policy is to re-invest the money they receive from energy consumer's bills in new renewable sources of energy. Allied to this they pledge to match the electricity tariffs of the Big Six.
3) Goodenergy
Another green company gaining recognition. This company concentrates on small renewable sources and they claim that all the electricity they sell is generated from renewables. Based in Wiltshire, it is pioneering the aim of small local companies supplying local homes and businesses with electricity generated from independent renewable projects. It was awarded the prize as the best utility provider for customer service in April 2010, and has pledged to hold its electricity prices until 2012.
4) First Utility
A Warwickshire company most known for their free smart meters. These meters provide real-time analysis of what energy customers use in pounds and pence rather than hard to understand units and therms. They fell foul of OFGEM in December 2010 by quickly raising their electricity prices for new customers. However, their prices are seen as competitive and they only have 3 simple tariffs.
5) EBiCo
They go even further down the simple tariff road with their single tier tariff that has each unit, whether for gas or electricity, costing the same. They have been trading for eleven years as the UK's only not-for-profit energy company with the result that their gas and electricity prices provide good competition for other suppliers.
1) OVO Energy
They have been getting the headlines through their low electricity prices and fixed price plans. And their simpler tariffs (they only have 2 of them!) correspond to OFGEM's wish for clearer tariffs and bills. Also they have received plaudits for cancelling plans to increase costs for variable rate customers when their own wholesale costs for gas and electricity dropped.
2) Ecotricity
Perhaps the greenest of all energy suppliers, their electricity prices are also pretty competitive. Their green credentials are based partly on the amount of the total electricity they sell that is created by renewables. In 2007 it was 24.1%, this year 51%. And they hope to reach 60% in 2012. Their other prominent green policy is to re-invest the money they receive from energy consumer's bills in new renewable sources of energy. Allied to this they pledge to match the electricity tariffs of the Big Six.
3) Goodenergy
Another green company gaining recognition. This company concentrates on small renewable sources and they claim that all the electricity they sell is generated from renewables. Based in Wiltshire, it is pioneering the aim of small local companies supplying local homes and businesses with electricity generated from independent renewable projects. It was awarded the prize as the best utility provider for customer service in April 2010, and has pledged to hold its electricity prices until 2012.
4) First Utility
A Warwickshire company most known for their free smart meters. These meters provide real-time analysis of what energy customers use in pounds and pence rather than hard to understand units and therms. They fell foul of OFGEM in December 2010 by quickly raising their electricity prices for new customers. However, their prices are seen as competitive and they only have 3 simple tariffs.
5) EBiCo
They go even further down the simple tariff road with their single tier tariff that has each unit, whether for gas or electricity, costing the same. They have been trading for eleven years as the UK's only not-for-profit energy company with the result that their gas and electricity prices provide good competition for other suppliers.
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