Look After My Bills was launched in January 2018 and, like Switchd, they offer an automated energy switching service. You may have heard about them from their appearance on the 16th series of the popular BBC show, Dragons’ Den.
As an automated energy switcher, LAMB search for better energy deals for you and automatically switch you to that deal. But they make money by taking a commission from suppliers that are included in their energy price comparisons. This means that they will rarely get you the best deal, as they ignore the thousands of tariffs that don’t offer them a commission. Free auto-switching raised some concerns in the den:
“Are you not compromised on independence? Because, surely, whoever pays you the most, you know, deal done, isn’t it?”
Jenny Campbell (investor on Dragons’ Den).
This means that free automated switching services are not necessarily completely on your side, as they are still receiving money from energy suppliers.
Look After My Bills is free to use. However, as they only switch you to a deal that pays them, you’re unlikely to be saving anywhere near what you would save with the best deal on the market.
Switchd is better because we’re truly on your side. We charge a small fee (starting at £1.99 per month) and in return, we switch you to the best deal possible. On average, spending just over £20 per year with us will save you over £100 more per year than you would be saving with Look After My Bills. We’re so sure that we get you a better deal that we won’t even charge you a penny until you’ve saved over £50 with us
80% of the time, the cheapest deal was not shown. Hidden within the website the best deal was available, but as shown through Flipper's research, 97% of people can't find it.
45% of the time, the cheapest deal was not shown. Since free auto-switchers make money through commissions from suppliers they do not offer the best deal to their customers.