Market Updates

UK | BN撈 | Saving up to a few hundreds by choosing electricity billing method wisely

Migrating to the UK has become a trend. In addition to considering the city where you are moving to, you must also consider various expenses of daily life. Nonetheless, many ex-pats to the UK are unaware of the local electricity billing model. Keep an eye out for the YouTube channel BN撈, where Ms. Ying, who has moved to the UK, will explain the different types of electricity billing models in the UK.

Content of the Electricity Bill

i) Tariff name and type

ii) Payment method

iii) Ending time for the tariff

iv) Exit fee

v) Average usage 

Different types of Electricity Plans 

i) Standard Variable Tariff

  • Most common type
  • Electricity companies can adjust charges based on market prices

ii) Fixed rate energy tariff

  • Fixed charge per kWh
  • Not affected by market prices

iii) Duel Fuel Energy Tariff

  • Electricity and coal use the same power company

iv) Pre-payment energy tariff

  • Power up with a stored value card

v) Economy seven energy tariff

  • Electricity charges vary according to time of day

vi) Economy ten energy tariff

  • Electricity is charged differently according to different time periods (the time period and Economy seven energy tariff are slightly different)

vii) Capped energy tariff

  • Electricity companies set maximum tariffs in contracts

viii) Green energy tariff

  • Production capacity in an environmentally friendly way
  • Fees are usually more expensive

You should have understood the UK electricity billing model better after watching this video. Friends who are about to or just moved to the UK can see which fee model best suits your requirements and make changes wisely.  

BN撈 information

The name of the channel “BN撈” means that we Hong Kong people, as British National (Overseas) integrate into British culture and life, and hope to have better life. The word “撈” is a Guangdong word that Hong Kong people often talk about, and we want our next generation also speak Cantonese. So the channel is named “BN撈”.

BN撈 will share with you some clips on how to integrate into the local British culture, and continue to carry forward the spirit of Hong Kong people in different places, knowing how to drink, eat and play. Due to the limited power of one’s own efforts, netizens are also welcome to provide information that can help other Hong Kong people integrate into British culture.

This article has been reproduced in text with the permission of the Youtube BN撈.

Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

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