Why Switch Energy Suppliers?

By  //  April 14, 2021

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Undoubtedly utility bills make up for most of our household expenditure. With the prices of electricity and gas rising every year, it has become quite essential that we find a way to cut our costs.

The easiest and quickest way to go about it is to switch to a new energy deal.

Comparing the energy deals offered by different suppliers can help you assure that you are not overpaying for your energy needs.

You can always get both electricity and gas from the same supplier, which is known as the dual fuel tariff. One thing that you should know is that although discounts are offered on dual fuel deals, this might not always be the case. This is when energy comparison comes to the rescue!

How can we compare energy?

The process of energy comparison is quite easy and there is no reason why you should think that switching to a different energy deal is a hassle. The first step is to enter your postal code in the energy comparison tool, which would help you filter out the deals that are available in your region. This is an essential step since different suppliers provide energy in different areas, hence deals may vary across various regions. 

Once you enter the postal code in the energy comparison tool, a list would come up that shows you several energy deals available in your area. So now, you need to compare energy deals that are given in order to choose the best one. The list helps to do an energy comparison by showing you the names of the energy suppliers in the area and the prices they have to offer for the deals.

Once you decide what deal to go for after the energy comparison, you need to contact the relevant energy supplier and make a switch! You can either take the help of a switching company that takes care of the whole process of energy comparison and making a shift towards another energy supplier, or you could go through the whole process on your own.

If you choose the latter, you need to take care of a few technicalities. For instance, you need to check for any arrears on your current utility bills and clear them out before making a switch. However, if after running an energy comparison, you end up finding a deal that is well suited for you, and if it is provided by your current supplier, you can submit an application for a switch.

What is the Exit Fee?

Another thing to keep in mind before making a switch is to check whether or not there is an exit fee on your current fixed tariff deal. If you choose to switch to a new deal after running an energy comparison before your set term is over, you are certainly liable to pay an exit fee. The value of the fee varies from supplier to supplier, the exit fee is set at 30 pounds per fuel on average.

If you are a tenant and find a better deal after running an energy comparison, the first thing that you need to look into is to ensure that it is you who takes care of all the bills. If that is the case, you should not have a problem while making a switch, however, contacting the landlord is advised. In case, it is the landlord taking care of the bills or is covering it in the bills, you must go over the contract signed before renting out space. 

Once you successfully switch to a better, cost-effective deal after running the energy comparison, all you need to do is sit back and enjoy lower rates on electricity and gas! It is advised that you run an energy comparison every year or two to make sure that you don’t miss out on cheaper energy deals. 

What are some of the best energy suppliers?

Through a survey conducted, we got to have an idea of how the customers rate different energy suppliers. The following are listed in order of the most preferred to the least in terms of the value of money:

  • Octopus Energy
  • Utilita 
  • Shell Energy 
  • Bulb
  • OVO Energy
  • British Gas
  • SSE
  • E.On
  • EDF
  • Scottish Power
  • npower

A reminder: Not everyone has the same energy suppliers in their area, This is why efficient energy comparison tools can help you get the best deals in your region.

How can an energy comparison tool help you?

Energy comparison tools effectively compare the prices of different deals and help you provide value for money. The information required by most of the energy comparison tools consists of your postal code, your current energy plan, and your consumption. 

All of this information is given on your energy bills. If you cannot get a hold of them while running an energy comparison, you can put in estimated values too, on the basis of your household and the number of people that reside with you.

While doing an energy comparison, you must keep in mind the intended energy usage. Once you know how much gas and electricity you intend on using, you can be in a better position to choose between different deals given in the list derived after energy comparison.

There are some plans which have a set rate for the fuels, which do not fluctuate with usage. This is something that comes in handy for a household with a high consumption of gas and electricity.

If you find a suitable plan that is offered by a smaller firm after running an energy comparison and are wondering if you should go for it, the answer is yes. The smaller companies have a tendency to offer more competitive deals in comparison to the Big Six. 

In case, you are concerned that the small firm you are opting for goes out of business at some point, leaving you without gas and electricity, you should go over the rules set by the regulator called Ofgem. 

According to Ofgem, in such a scenario you would continue to get the energy fuels and would get a new supplier. 

Energy comparison is a vital process that helps you choose the best deal for you. So, don’t hesitate and start comparing deals in order to save as much as possible!