When is a good time to change electricity suppliers?

Keeping track of your electricity prices is quite important, particularly with summer around the next bend.

Make It Cheaper chief executive Tim Wolfenden said it is essential to monitor your power prices - and to make a switch if you find you could be getting a better deal elsewhere.

"Every single day is a good time to switch energy providers," said Tim.

"If someone hasn't switched providers for 18 to 24 months then now is a fantastic time to compare and switch.

"Prices were approximately 20 per cent less than they are today and market discounts were about 50 per cent worse than they are today," he added.

Households need to take a closer look of their consumption to make sure they are not missing out on potential savings.

"Where the energy market is now is not a spectator sport, it requires active participation from consumers to take ownership of their electricity account across their usage, the price they pay, the retailer they are with, the service they receive and the discount they get on the bottom line," he asserted.

If you're looking for ways to reduce your electricity bills, there are two areas where you can make savings - cutting your consumption and improving your energy efficiency at home.

Simple actions such as switching appliances and lights off when they are not being used can make quite a big difference to your energy bills.

Posted by Charlie Moore