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Best Energy Suppliers for First Time Buyers

Buying your first home is an extremely exciting time. The bills and keeping track of everything is not the fun part. Things like energy may be lower on your priority list but that does not make it any less important.

Moving into a new home means you will be automatically paying for energy to a supplier that has already been picked for you by the previous owner. This may be expensive and one of the first things you should do is compare home energy prices and switch. Even if this is lower on your organisation priority list, it is something you can tick off your moving in list quickly.

It takes just 60 seconds to compare energy prices. The switch guarantee means that you can push it to the back of your mind whilst you get other things in order in your new home like council tax and home broadband etc.

First, you may have a few questions.

First Time Buyers

Which energy supplier is best for first-time buyers?

You may be coming from a rental property so you may know how much energy you use annually. If not, do not worry our comparison engine will be able to calculate averages based on the size of your property.

If it turns out you end up using less, you can get a refund of the difference once you have built up credit. However, remember that you will always use more energy in the winter months so most of the time it balances out.

Here are some of the best energy suppliers for first-time buyers:

EDF Energy

  • Range of tariffs available.
  • Smart energy bundles available including starter kits.
  • Excellent Trustpilot reviews.

British Gas

  • Regular joining offers.
  • Range of tariffs available.
  • Hive Smart Thermostat bundles.

Bulb Energy

  • 100% renewable energy.
  • Simple and easy to understand tariff.
  • Excellent Trustpilot reviews.

Octopus Energy

  • Which? Recommended 4 years in a row.
  • Very accurate billing.
  • Excellent Trustpilot reviews.

Ovo Energy

  • Owns SSE Energy.
  • Green and simple energy.
  • 100% renewable energy.
  • 4 simple energy tariffs.

As a new homeowner, it is important to take precautions and you will want to make sure you select the right tariff for your home. This includes considering extras like boiler cover. Sometimes this is covered in your home insurance, so it is better to check than be covered twice!

Remember to think about how you use energy. There are Economy 7 tariffs available from many suppliers which means that energy will be cheaper at certain times of the day. For example, if you can save your washing until the late evening or if you are a bit of a night owl, this may be a good option for you.

What tariffs are available?

Fixed tariffs

A fixed tariff is one of the most popular for home energy. This guarantees the price of your energy bill for a set period. This means you will not see any price increases until your contract runs out. However, if energy becomes cheaper it will not decrease either.

Many households choose this type of tariff for stability. If prices decrease, many will pay early exit fees to switch to a cheaper deal. The exit fees vary by supplier but most charge £30 per fuel.

Green energy tariffs

These types of tariffs are great for any households who want to become more environmentally responsible. Green tariffs have the common misconception of being much more expensive but this isn’t always the case.

Variable-tariffs

This is exactly the opposite of fixed. If prices go up or down, so does your monthly bill. Households will use a variable tariff for financial flexibility if they’re expecting prices to go down in the future.

Dual-fuel tariffs

This is when you choose to have the same supplier for both your gas and electricity. It is popular with many UK households as it makes managing your bills much simpler.

These are the four most popular tariff options in the UK. You can read more about tariffs here.

If you would like any further guidance on switching energy for the first time, contact the Love Energy Savings team. Our energy experts will provide free, impartial advice on your switch.

FAQs

  • How to set up gas and electric for the first time?

    Moving into your first home is very exciting but equally stressful. There are a few essential things you should have on your moving checklist. One of them is to sort out your energy supply. Here’s what to do:

     

    1. Find out who the current energy supplier is – if you’re moving into a new build property, you should be able to find out from the developer. For other homes, you can find out from the previous owners or estate agent.
    2. Take a meter reading as soon as you start to move in ­– this ensures that you can be billed accurately when you decide to switch energy. There will be a period when you take ownership of the property to your switch date where you will need to pay the supplier for energy used. You will also want to do this to avoid any potential debt from the previous owner.
    3. Compare and switch energy supplier – you will likely be able to find an energy deal better suited to your needs. Comparing energy is the best way to save money and cut costs on your utilities.
  • How much energy will I use?

    Households vary depending on the energy efficiency of your new home, your appliances and how often you are home. As a tough guide Ofgem have put together the average energy usage for small, medium, and large homes in the UK:

     

    House size

    Gas usage (kWh)

    Electrcity usage (kWh)

    Small

    8,000

    2,000

    Medium

    12,500

    3,100

    Large

    18,000

    4,600

     

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