Switching Energy Suppliers
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Save hundreds of pounds a year by switching energy suppliers
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Quick, simple process
Since the Coronavirus outbreak in March 2020, millions of us have been spending a lot more time at home due to lockdown measures and, in turn, are no doubt dreading our next energy bills due to the increased usage.
If you’ve been getting your gas and electricity from the same company for a long time, you could save a lot of money if you switch energy suppliers. More people than ever are shopping around for the best energy deals and are saving hundreds of pounds in the process.
It only takes a matter of minutes to change your energy supplier - take a look below for our tips on switching and you could be getting cheaper gas and electric today!
How much could I save by switching?
Calculating the average UK energy bill can be very difficult due to a number of factors; Ofgem - the market regulator - suggests a figure of around £1,300 a year. That may not seem like much in the long run, but you’ll want to be making a saving wherever possible.
Research suggests that families are spending anything up to 30% more on their energy bills than they should be, equating to well over £300 a year. This is usually down to the fact that they have chosen the wrong energy tariff or haven’t changed it since moving into their home.
Learn more: How Much Money Can I Save by Switching?
Where to start?
The first thing to do is find your most recent energy bills and start comparing energy suppliers online to see if you’re paying too much.
You can choose to opt for separate gas and electricity suppliers, but many companies offer dual energy plans which generally tend to be more cost efficient. Spend a bit of time doing your research and comparing energy prices to ensure you get the best overall deal.
Rather than wasting valuable time trawling the internet, you could run a check in a matter of minutes by using energy comparison sites or by getting a quote here with Compare UK Quotes today - simply tap the button below:
Should I switch my energy supplier? - The benefits of switching.
If you haven’t switched energy suppliers in the last year or two then it’s likely that you are paying too much for your energy.
This is especially true if you are with one of the ‘Big 6’ UK energy providers;
* British Gas
* Scottish Power
Generally, these companies will place you on their standard energy tariffs, which can be much more expensive than you’d expect. If you are on one of these tariffs, then it’s definitely time to consider switching deals - either by sticking with the same company and looking for a new tariff, or changing your energy supplier completely.
It’s important not to feel overwhelmed when looking for a new utility supplier. In recent years, there have been many new smaller suppliers entering the energy market and this may be off-putting to some, especially if they prefer the lure of a big name brand.
Many of these new suppliers will try and entice new customers with some great introductory offers, but it’s always worth checking the small print as these may not kick in until a certain amount is spent.
Aside from pricing, another thing to consider is customer service; this is vital when it comes to gas and electricity suppliers. When you’re browsing potential new companies via an energy comparison site, make sure you scroll down to find their customer service rating. You’ll want to find the right balance between cheaper energy bills and excellent service - it does exist!
Read more: Why Switch Energy Suppliers?
Things to know about switching energy providers
Smaller, newer energy companies
It’s definitely worth considering moving to a new, smaller supplier when thinking about switching.
Many customers have found that they get the best deals with newer suppliers, but it can completely depend on the deal you’re getting and with whom you’re getting it.
Whatever supplier you choose to switch to, make sure you look at the small print to check about exit fees.
Variable rates vs fixed rates
If you’re on a standard variable rate tariff that has no fixed end date then you shouldn’t be charged a fee for leaving them.
However, if you decide to switch suppliers early with a fixed tariff then you could be liable for an exit charge - you’ll be charged per fuel so make sure you do the maths first to see if switching early is really worthwhile.
If you change your mind after choosing a new supplier then you have the safety net of the 14-day cooling off period.
The cooling-off period starts on the day that the switch begins, so if you find something isn’t quite right with your new deal or you find a better one elsewhere, you’re well within your rights to cancel, as per the Consumer Rights Act.
If you decide that you’re happy with everything then the energy switch should be complete within a few days after the cooling-off period ends.
The best time to switch
Providing you’ve kept up to date with your energy bills, you’ll never lose your gas and electricity supply when you come to switch providers.
Your switching window opens 49 days before your current energy contract ends and your supplier should write to you to let you know this. This will then give you plenty of time to look into the possibility of switching and compare a range of quotes on comparison sites or directly from energy suppliers.
If you’re not on a fixed-term tariff then use the summer months to search for and sign up to a new supplier. Most households use a lot more energy during the winter so make sure everything is up and running with your new energy supplier in good time, to avoid any teething problems.
Just moved home? With such a big change in your life, changing your gas and electric supplier may seem like a drop in the ocean. Finish unpacking and then get online; the previous occupant may not have been as savvy as you and could be on a much more expensive tariff than you need!
Start comparing energy deals now
At Compare UK Quotes, we are dedicated to saving our readers time and money when it comes to everyday bills such as energy, car costs or insurance. For further tips and advice, be sure to browse our useful guides online.
To start saving money on your utility bills, you can do so today with Compare UK Quotes; simply tap the green button below to start browsing and comparing a range of quotes from different UK energy suppliers.
Remember, when comparing deals online, always ensure you fully understand the terms of the contract and what’s expected of you in terms of payment.