A market agreement is a contract negotiated between the customer and the retailer (energy provider). The prices offered under a market agreement are not regulated by the government. Market agreements have only recently been introduced into the energy industry following the introduction of competition in the early 2000's.

Choosing a market agreement could save you a lot of money on your energy bills. There are a range of different types of deals available, some of which include green power options, dual fuel (where your electricity and gas plans are rolled into one), and different types of off-peak pricing options.

One thing to remember is that changing to a market contract will not effect or change the quality of your energy supply. You will be signing the contract with the energy retailer/provider, who purchase electricity and gas in bulk from Energy Distributers and then sell it to their customers. Distributers are the companies responsible for the electricity poles and gas pipes. They are also responsible for the quality and reliability of the electricity delivered to you. Customers do not have a choice of their Distributer.

By agreeing to a market contract, you may benefit from lower prices and great savings, however in exchange you will be agreeing to remain with the energy provider for a set term (generally this ranging between 3 to 5 years). Contract entry and exit fees may apply, so make sure you read through the contract terms and conditions carefully before signing.