When it comes to finding the best energy tariff, everyone has different needs they want their energy deal to meet.
For those in retirement living off a fixed amount each month, it is often important to control gas and electricity costs and be able to plan for how much their monthly bills will be.
Fortunately, there are a number of tariff options and Government schemes available. Choosing the right tariff and making use of the Government schemes, can help to make energy bills more affordable and easier to manage.
We take a look at the best energy tariffs for pensioners the support available to help control energy costs.
What are the best energy deals for pensioners?
When hitting retirement age, most people will be living off a fixed income. This makes it especially important to find the best gas and electricity deals to help your money go further. While there may not be a specific energy tariff for pensioners, there are a number of options which can help keep your gas and electricity prices down.
Fixed rate tariffs
A good place to start is switching to a fixed rate energy tariff. With a fixed rate tariff, you will be charged a set price for your gas and electricity over a set period – usually between one and four years.
This means you will be protected from any price hikes over the fixed term. It is worth noting that a fixed rate deal doesn’t mean you will pay exactly the same amount for your energy each month.
The fixed rate relates to the price of the units of gas and electricity used. The more energy you use, the higher your gas and electricity bill will be.
Dual fuel deals
Another option to potentially reduce energy costs is a dual fuel tariff. With a dual fuel tariff, your gas and electricity will be supplied by the same energy provider. Many suppliers will offer discounts to customers who sign up to dual fuel tariffs with them.
This can also reduce any hassle in dealing with bills as you will receive one bill for both your gas and electricity from one company.
Monthly direct debits
Although many elderly residents may prefer to pay for their energy on receipt of bill, setting up a direct debit could reduce your energy costs. Energy suppliers have begun to offer discounts for customers who sign up to direct debits and paperless billing.
If you or a family member are happy to set up a regular payment which comes straight from your account, you could reduce the cost of your energy bill.
Manage your bills and usage with the Priority Services Register
Signing up the Priority Services Register (PSR) can help you or a loved one manage energy bills and usage. The PSR is a free and voluntary scheme offered by energy companies to provide their vulnerable customers with assistance.
This includes pensioners, the elderly, those with disabilities and those who are chronically ill. Services offered include:
- Protection from cold callers
- Priority reconnection if your energy supply is interrupted
- Prior notice for planned power cuts and help claiming power cut compensation
- Arrangements for bills to be sent or copied to someone else, such as a carer or family member
- Free annual gas safety checks
Could you benefit from Government energy schemes for pensioners?
A number of Government schemes have been set up which can help pensioners manage the costs of their energy bills.
Warm Home Discount
The Warm Home Discount is a Government scheme which gives financial help to people finding it difficult to pay their energy bills. Anyone eligible for the Warm Home Discount will receive a one-off payment of £140 towards their electricity bill.
Cold Weather Payments
The Cold Weather Payments are given to anyone receiving Pension Credit and certain people on the Priority Services Register such as the age vulnerable. For every seven straight days of 0°C weather or below, you will receive a payment of £25 towards your energy bills.
Save money by switching to the best energy tariff for pensioners
To ensure you are on the best possible energy deal it is always recommended that you switch energy providers. If you’re currently on out-of-contract rates with your energy supplier, you will likely be overpaying significantly for your gas and electricity.
Here at Love Energy Savings, not only do we offer you the best energy tariffs on the market, we will also manage the switching process for you to help you save money without the hassle.
To find out how much you could save on your energy bills, simply answer a few quick questions using our free home energy comparison engine.