Tariff comparison rates (TCRs) are a tool that Ofgem introduced in 2010, to allow energy consumers to be better placed to compare gas and electricity plans.
By using a TCR you will be able to find out how much each available gas and electricity plan will cost you. For a more accurate comparison, however, you should use an energy price comparison service.
A TCR is a rate that displays the cost per unit of energy that each gas or electricity tariff offers. These TCRs factor in things such as standing charges and discounts – these are not taken into account by the rate displayed per kWh.
TCRs are only meant to act as a general approximation of what you will be paying on a given tariff. They are all based on households that will fall into the medium energy user group. This means that if you are either a low or high energy consumer, you will not be able to use these comparison rates as an effective guide.
If you are on a time dependent energy rate such as Economy 7 or Economy 10 then you will not be provided with a TCR.
Your TCR will be found anywhere that details the plan that you are on. This means that you will be able to find it on your energy supplier’s website or on any price comparison site.
You can find out the TCR on your current energy bill or on your annual energy statement. The TCR of your current tariff may displayed in what is called your tariff information label. This label will show you your tariff comparison rate and other pieces of information such as the amount you pay per kWh and your standing charges.
Whilst a TCR will give you a fairly good idea of how much each tariff costs on average, there are much more reliable ways to compare gas and electricity prices.
The best way to find out which energy plans are cheapest is to run an energy price comparison. On our website we offer a free and impartial price comparison service. By using this tool you will be able to compare prices on all the best deals that are available to you.
The results we provide you with will be tailored specifically to your needs as a consumer. This is because we take information on your actual energy usage and on your location. This means that we can tell you exactly how much you can expect to pay on a gas or electricity plan, instead of just an average consumer’s cost.
We will also provide you with information on each company’s customer satisfaction ratings. This means you will be able to see how well other customers have enjoyed being with a particular energy supplier before you choose to switch to them. In addition to this we will show you the “Fuel Mix” of each energy supplier, this shows you how each company produces their energy and which ones use a larger amount of renewable resources. This means you can choose the company which produces more green energy if you wish to.
Switching through our website is easy and will take you short amount of time. We take care of all the paperwork for you and even contact your old energy supplier so you don’t have to. We charge nothing for this service and many of the deals on gas and electricity that you will find on our website are exclusively offered to our customers, meaning that you won’t find the cheapest deals anywhere else.