Energy bills are at an all-time high with no real assurances they are going to be lowered anytime soon. They remain the biggest concern for most consumers as we all search for the best deals on the market.
The advice we receive from financial experts is always to search for the best deals available and switch energy providers in order to get them. Switching providers can also help you get new customer discounts, so there are definitely positives to doing it. However, changing energy providers can seem like a huge hassle which puts many people off changing as does the potential for incurring cancellation fees from your existing provider.
The good news is that switching energy providers is not as painful as you may think and it can definitely save you money. Here are some simple tips on how to change your energy provider with as little fuss as possible.
There are lots of comparison websites out there which can help you to compare prices from a range of energy companies so that you can find the one which is best for you. You will find all the big names on these types of websites, such as British Gas and Eon, as well as all of the tariffs available to you. Remember, you can often save money by switching the tariff you are on so take care to compare each tariff as well as each company.
You may also find that you will be offered a better deal if you decide to change both your gas and electricity to the same company. Dual fuel discounts are often offered to new customers as are discounts when you choose to pay your bill by direct debit each month rather than wait for your bill at the end of each quarter.
Don’t ignore the little guy
While it may be tempting to stick to one of the bigger energy companies due to the belief they will be more reliable and cheaper, there are many smaller energy providers able to offer you excellent rates simply because they are smaller.
Scottish Power and EDF Energy both started off as smaller providers but have become increasingly popular due to their lower prices- partly thanks to lower overheads. Figures released by Energy UK show that mid-tier suppliers are now accounting for 30% of all switches within the energy market, showing that people are beginning to realise the little guys often offer the best deals for consumers.
Once you have found a cheaper rate
When you have compared all the companies and tariffs, check with your existing provider to see if you will be charged any early cancellation fees. Most companies will let you cancel your contract with them up to 49 days before it is due for renewal but cancelling your contract before this time can lead to charges.
To avoid this, make sure you know the date of your renewal and begin to shop around about a month before this date. If you leave it too late, you will automatically be renewed into a new contract with your current supplier and be tied to them for a further year.
In order to switch, all you will need is details of your address, current provider, tariff and your energy consumption. All this will be contained in your latest energy bill. When you give all this information to your new provider, then that’s your part done. Your new energy provider will deal with switching your supply over to them, and all you need to do is await your first bill and enjoy the savings.