The Benefits of Switching Utility Suppliers
If you have never shopped around for your energy supplier, you could be missing out on saving yourself money. Research for Ofgem shows that 62% of households have never switched their energy supplier with 45% of those not believing they would save enough money by switching to make it worthwhile.
According to MoneySavingExpert.com, many people could save £100’s simply by switching. Changing energy suppliers was once a very confusing task, however, with new regulations from Ofgem in place to make the process straight forward, it is now easier than ever to save on your energy bills.
Price Comparison Claims
|Utility||How much you can save|
|USwitch||Up to £412 a year|
|First Utility||Up to £213 a year|
|Moneysupermarket.com||Up to £199 a year|
|Comparethemarket.com||Save Up to £347 a year|
Comparing energy prices and switching suppliers is an easy task. Most comparison websites are easy to navigate and all you will need is your post code and latest energy bill.
First of all it’s important to check with your current provider to find out if you are tied in to a fixed term contract. You may have to pay a cancelling fee for terminating your contract early. If your contract is nearing its end, you will receive a notification from your supplier 42 - 49 days before the end of your plan. Shop around earlier than this to find the best deals to avoid rolling over into another contract with your current provider.
Work out how much you are actually spending on your gas and electricity. Using a comparison site such as Comparethemarket.com will allow you to simply enter the details of your energy bill to view the best deals and tariffs around to suit your energy consumption. For peace of mind, compare prices using a comparison website that has been accredited by Ofgem.
For a more accurate comparison, have your latest bill to hand so that you can enter the meter reading. It is possible to compare prices without your latest bill.
Once you have decided what tariff is the most suitable for you, you can then switch your supplier. Some comparison sites will even do this part for you, making the process even simpler. Remember to cancel your direct debit with your old supplier as you don’t want to keep paying for a service you are not receiving anymore.
Don’t forget, you can also compare and save money on your other household bills such broadband, TV and household telephones.
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