The tariff information label

 

At Together Energy you will see your Tariff Information Label on your Welcome Pack when you join us, on page 3 of your regular bills, and on your Renewal Letter.

Our full tariff information is available here

What is on the tariff information label (TIL) ?

The tariff information label is a document that lists the following:

  • The supplier’s name;
  • the tariff name;
  • the tariff type: variable, fixed price, green, etc.;
  • the payment method: quarterly on receipt of bill, direct debit (monthly/quarterly), etc.;
  • the unit rate: what a single unit of electricity (kWh) costs;
  • the standing charge: this is a price per day that customers pay regardless of consumption;
  • the tariff end date, if applicable;
  • whether or not the price is guaranteed until a given date;
  • whether or not the supplier charges early exit fees and how much they are;
  • whether additional products or services are included in the supplier’s tariff.
  • This information enables suppliers to estimate average costs based on average UK household energy consumption, i.e., 3,200 kWh for electricity and 13,500 kWh for gas. Suppliers provide:
  • the estimated annual cost, including VAT;
  • the estimated monthly cost, including VAT, which is the annual cost divided by 12;
  • the tariff comparison rate, including VAT, in pence per kWh.

How to use the tariff information label (TIL)

The tariff information label allows for a standard comparison of tariffs and tariff types.

The most useful item on the tariff information label is the tariff comparison rate (TCR)

The tariff comparison rate (TCR) allows for standard unit rate comparisons of all energy suppliers and can be adapted to household consumption. For example, if a supplier’s tariff information label gives 15p/kWh as the tariff comparison rate, a household using 5,000 kWh of electricity per year can work out estimated annual costs for each supplier by multiplying consumption by the TCR:

5,000 kWh x £0.15 = £750 of electricity per year

The estimated annual cost on a tariff information label rests on UK average energy consumption (3,200 kWh a year for electricity and 13,500 kWh for gas), which can be higher or lower than your consumption. The TIL is therefore indicative.

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