Looking for an affordable electricity contract? Great! Saving on your electricity bill is smart and a very easy way to save money. By comparing electricity contracts and by choosing the cheapest option, you save money with virtually no downside.
When choosing the cheapest electricity contract, it is important to note that the total price of your electricity bill is affected by both the price of the electricity itself and the monthly base fee.
In particular, if you live in a small apartment and consume little electricity, you should also take into account the basic tariff, as often the cheapest electricity contract may not be the cheapest contract overall because of the basic tariff.
The cheapest electricity contract can be found through competitive tendering
The most convenient way to find the cheapest electricity for your own use is to tender for electricity contracts on a specialist website - like the one you're on right now. The electricity contract comparison engine can be found at here.
Our comparison engine also automatically takes into account the proportion of the basic electricity contract fee in the total electricity bill - all you need to do is enter your home's (estimated) electricity consumption into the engine, and the electricity contracts will automatically be ranked from cheapest to most expensive.
Before electricity tendering you should check your current electricity consumption against previous electricity contracts. Alternatively, you can also look at a rough estimate of your home's electricity consumption from this article.
Usually, for apartment buildings, the cheapest deal can be found on the basis of a rough estimate. For a detached house, we recommend checking the actual annual consumption due to the greater variation in consumption between houses.
If you wish, you can also select additional options from the tendering engine, such as the type of electricity generation you want and whether you want a fixed-term or open-ended electricity contract.
What is the cheapest electricity in an apartment building?
In most cases, you should choose a monthly free electricity contract for an apartment building. Since electricity consumption in apartment buildings is low, the price of electricity itself is usually not a very large proportion of the total electricity bill.
In a low-consumption household, it is easy to accidentally take an unnecessarily expensive contract by choosing an electricity contract with the cheapest electricity price but a higher basic charge.
The information you can find on our website reference machine makes it easy to avoid this mistake - when comparing electricity contracts, you can also see the base rate.
Exchange electricity usually the cheapest option for larger households
For larger apartment blocks of more than two people, the cheapest electricity is usually electricity from the exchange at a low basic tariff. With exchange electricity, the price of electricity fluctuates all the time, and the price you pay for electricity is determined by the spot price on the exchange. As a result, electricity is cheaper at night, for example, and the price of electricity can also fluctuate a lot in the longer term.
The price of electricity on the exchange is therefore difficult to predict and subject to fluctuations, but this type of contract is still the cheapest option in the long term for almost all users. In our comparison engine you can filter the electricity exchange contracts in the "pricing method" section.
If you wish, you can also check the average prices of electricity on the stock exchange for the previous months. here.
Cheap electricity for a detached house - how to do it
Affordable electricity can be found in a detached house using the same basic principles as in an apartment building. The main difference is the importance of competitive tendering - while in an apartment building the savings from using low-cost electricity may not be very high, in a detached house the situation may be different.
Heating in private homes is often provided by electricity, which is why a low-cost electricity contract can bring significant annual savings. Compared to a block of flats, a cheap electricity contract also usually means a cheap electricity price, as the higher consumption means that the basic charge is no longer so important and the price of the electricity itself plays a more important role.
Cheap electricity from the stock exchange
As in apartment buildings, the cheapest electricity in the long run in a single-family house is usually provided by electricity from the stock exchange. This is especially true when it is possible to optimise the use of electricity by means of a hot water heater. The downside of exchange electricity is less predictability and possible price spikes, but in the long run this is often the best and cheapest electricity contract.
Exchange electricity is available from many different electricity companies, so before signing a contract, it is worth comparing the basic tariffs and the electricity company's margins for exchange electricity as well. It is easy to compare the prices of the main electricity suppliers our comparison engine.
The cheapest electricity with regular comparisons
The cheapest electricity in the long term can be found by regularly tendering for electricity contracts. Although exchange electricity is almost always the cheapest type of contract, it is also worth comparing these contracts regularly in terms of the base rate and margin.
The cheapest electricity today may not be the cheapest option in a year, or even six months, from now. That's why it pays to tender for electricity on a regular basis - it's the only way to ensure that you have the cheapest electricity in the future.
Frequently asked questions
How can I get the cheapest electricity contract?
The cheapest electricity can be found by comparing. As electricity companies constantly update their electricity contracts and the final price depends on the type of dwelling and the amount of electricity used, we cannot say for sure which electricity company's contract is the cheapest. You can find the cheapest electricity contract by comparing the current contracts of different electricity companies on our homepage.
How do I get a cheap electricity transmission price?
Unfortunately, electricity transmission pricing is not subject to competition, as the price of transmission is always determined by the tariff of the local electricity transmission company. You cannot therefore change the transmission company or compete for the price of transmission - you can only compete with the companies responsible for generating the electricity.
How often do electricity contract prices change?
Electricity contract prices change according to the electricity companies - in many cases this can happen very frequently. In general, the prices of fixed-price contracts change according to long-term electricity prices and forecasts on the electricity exchanges. The prices of exchange-traded electricity contracts often do not change that much, due to the different nature of their pricing.