Electricity Prices

Electricity prices, or rates, are the fees an electric supply company charges its customers for service. Electric supply companies charge their customers different rates, depending on the type of customer, the kind of contract, and on the customer's electricity needs. An electric bill is calculated on the basis of the individual customer's rate, the level of consumption, and other charges, such as VAT and any government levies applicable to electricity prices in general in the UK .

 

That collection of rates is called a tariff. The tariff is designed to provide the privately owned electric supply company with enough income to allow investors to earn a cash return and cover operation and maintenance costs. In the UK whilst the market itself is regulated the actual price you pay is dependant only on the electricity supply company that provides it.

 

The Energylinx home electricity price comparison service lets you compare the electricity prices of all electricity suppliers in one place. You can also change electricity supplier to the one with the best electricity prices for your home. Check out the electricity prices calculator to see how much you can save on your electricity bills.

 

A typical domestic electricity customer now pays £115 less for power than in 1990 when the industry was privatised. Based on consumption of 3,300 units per year supplied by the 'host' company in the customer's home region, the bill has fallen from £365 in 1990 to £250 in 2002 after allowing for the effects of inflation.


A comparison of April prices over the last decade indicates a fall in real terms of 32% and shows that the typical household currently pays 72 pence per day, including VAT, for all the electricity it needs.


Prices fell by 1% between April 2001 and 2002 for customers on a quarterly standard tariff, while prepayment meter customers experienced a 1.5% fall.


Since competitive supply came to the domestic market, customers who shop around can expect to achieve annual savings up to up to £150 on their annual bill. The exact saving depends on consumption and the payment method adopted.

 

If you wish to receive detailed information on the average retail prices for electricity you can register in our news section and receive updates whenever the retail price changes significantly.

 

energywatch accredited Tariffs endorsed by Greenpeace included Guide to Green Electricity Tariffs used

energywatch accredited - Tariffs endorsed by Greenpeace included - Guide to Green Electricity Tariffs used