Switching your energy supplier regularly could save you hundreds of pounds a year. Currently, 11 million households in the UK are paying the most expensive tariff rates to their energy suppliers solely because they haven’t switched for over a year. The energy industry seems to punish loyal customers. If you are interested in saving money by finding the cheapest deal on the market, here are some ways to switch your energy supplier.
1. Auto-switching services
Automatic switching is a new service that is becoming increasingly popular in the energy industry, and for good reason. Signing up with auto-switching is like having a personal assistant who will always research the cheapest gas and electricity deal on the market and switch you accordingly. The best part is that you only have to join once by entering a few details about yourself and your property, and you will get your energy sorted out without having to think about it again. Once a better deal comes along (usually every 6 to 9 months), you will get notified with the details of the switch. There is no risk in switching this way as you will have a 14 days cooling off period within which the switch can be cancelled and nothing will happen to your energy supplies.
If you switch before the end of the current tariff, your supplier will no longer be able to move you onto their more expensive standard variable tariff. The switching service will make sure to regularly check for the best tariffs and choose a supplier that fulfils your requirements. The search will take into account all sorts of variables – energy usage, region, meter type and much more – to tailor the deal to the specific user.
There are a wide range of new auto-switching companies out there. Some of them are free while others may charge you a small fee. However, it is important to be aware that not all of them have the customer's best interest at heart. Our auto-switching service Switchd does! This is because we switch to the whole market, not just to suppliers who pay a commission. We are powered by our members, not by energy firms. Our members pay a small monthly fee, and in return we save them an average £109 more than they would with a free auto-switcher. Here’s a comparison of Switchd with the competition!
2. Comparison websites
A comparison website contrasts a variety of gas and electricity deals that you can choose from. These websites often ask for your current energy costs, your property details and some personal information. Once you find a deal you are satisfied with, you will have to contact that supplier and sign up yourself.
When your current tariff ends, the supplier you chose will automatically move you on to their standard variable tariff. If you are interested in getting your hands on the best deal, it is highly recommended to set reminders and repeat this process, ideally, every 6 months.
One of the major downsides that comes with these services is that they can get biased as they only show you the energy providers that get them a commission. This can make it extremely difficult for the users to find which deal is truly the best.
3. Charity advice for changing suppliers
Some people may choose to follow the advice of a company they would trust, like a charity, to compare energy suppliers. This might feel like an impartial advice of the best deals on the market, pointing out which supplier would suit your interests best and you should switch your energy to. The downside is that you would then have to contact the supplier and sign up yourself. If you are interested in regularly switching your energy for the best deal, you would have to repeat the process to see if the charity updated their recommendation, cancel your current contract, and sign up with a new supplier.
Nonetheless, we strongly advise you to be critical about where you place your trust. In 2016 it has been revealed that a well known charity, Age UK, has been pushing an energy tariff on its customers that cost hundreds of pounds more than the cheapest offer on the market. Therefore, whatever you choose, make sure to research thoroughly.
4. Compare tariffs directly on supplier’s websites
Energy suppliers will allow you to get quotes directly from their websites. Some suppliers offer exclusive deals for new members only if you check through their website. You would have to manually check each electricity and gas deal from each supplier. There are few factors to take into account when comparing suppliers and tariffs – from prices, green energy tariffs, customer satisfaction scores, to fixed deals with no exit fees. In order to know which supplier to switch your energy to, you would have to be very thorough in your research to make sure you get the best deal out there.
Your chosen supplier will transfer the account on to their standard variable tariff once your deal comes to an end. To ensure you stay on the best deal, regular reminders would need to be set up and the comparison process repeated every 6 to 9 months.
What’s the best (and easiest) way to switch energy suppliers and get a great deal?
There’s no doubt it is important to regularly review the deals on the market to pay the most competitive price. If you love saving, but hate the hassle of changing energy suppliers, auto-switching services are your best shot. You only have to sign up once and the company will make sure to constantly check the market and automatically switch suppliers for you. This way, you will avoid spending your valuable time comparing tariffs and dealing with the manual process of entering your details each time you switch your gas or electricity. It's important to choose a company that isn't influenced by commissions and truly looks after your interests / best possible options.
By opting for this service instead of comparison websites, charity advice or going directly to the supplier will ensure that you never get a disadvantageous standard variable tariff. You won’t have to worry about forgetting the date on which your tariff ends. There is a pre-established price cap for the standard variable tariff which stops suppliers from overcharging you, but it is nowhere closer to the best deal on the market.
So, what are you waiting for?
- We save you more time and money than comparison sites and our free competitors. And what’s more, you’ll only be charged for our service if and when we get you a saving of £50 or more.
- Its quick to sign up, then hassle-free thereafter.
- Auto switching is for those who want to save money, but don’t have the time or patience to keep switching. If you want to save money hassle-free, auto switching may well be for you.