Important things to consider before switching energy suppliers

Switching energy suppliers can save you money on your monthly bills,, but unless you can take the time to shop around, you might miss out. If you’re thinking about switching provider, now could be a good time to start looking as energy tariffs are set to rise. So, to help you assess your options, we’ve put together a simple guide on the important things to consider before you switch.

 

What is my current energy tariff:

Check what your current provider is offering you and workout if an alternative energy tariff could save you money. If you decide to go ahead, there are a few things to consider first:

  • Exit fees, how much would your current company charge you for switching? It’s quite possible that your current energy provider might offer you a different tariff in order to keep your custom.
  • You would need to contact your current energy provider and check your account details to see if your account is in debt or credit. If your account is in debt, your energy provider will require you to pay this off before switching.

All this information will be available from your current energy provider.

What kind of energy tariff do you want:

There are various energy tariffs available, so you need to think about the best one to suit you and your needs. Whether this is a fixed tariff, online tariff or if you’re on a budget and would prefer working to a flexible pay-as-you-go model, there is a tariff suitable for everyone. Make sure you do your research first, before you make the final decision to make the switch.

Making the switch:

Your new energy supplier will sort the switch for you, it’s as easy as that. Once you sign up with your new energy provider and create an account, you will agree a date the switch over will happen and the date your bills will be paid. Your new provider will request all the information from your old provider which usually takes around 21 days. The only thing you will need to do is share your most recent meter readings with your new provider.

What if I change my mind:

If you change your mind, you usually have a 14 day cancellation window from the start date outlined by your new provider. This 14 day window is also known as the ‘cooling off period’. If you do change your mind after 14 days you are liable to pay an exit fee which will be decided at the discretion of your provider, but should be outlined in your contract upon sign up.

 

To read our top tips on how to save energy, please click here