You probably know about these two resources, but having an electricity and gas provider from different locations will help save you money in the long run.
Switching providers can seem intimidating, especially if you don’t know where to start, but we’ve compiled a handy guide explaining what you need to do.
A new era is upon us, one in which your gas and electricity supplier can be just as important as the website you use or the products you sell. No matter what your business looks like, if it hasn’t switched in a while, it should consider doing so now.
Your recent energy bill and your postcode are all you need to switch. Using a comparison website should take only a few minutes, making this process easy for consumers. Let’s learn more.
Content to explore
- When’s the best time to change energy suppliers?
- What do I need to switch?
- When can I switch energy suppliers without penalty?
- How to switch energy supplier
- How do I compare energy prices?
- Transition period
When’s the best time to change energy suppliers?
The only time I ever changed my energy supplier was when I switched to a fixed-term contract. I was under the impression that any change in circumstances was an excellent reason to switch. Still, some special circumstances when switching suppliers are even more important.
If you’ve remained loyal to the same supplier for more than a few years, changing energy suppliers is hugely likely to save you a significant sum. You might be able to find a cheaper deal than the one you’re on now, but be careful. If you’re on a prepayment meter or smart meter, you can still switch using an Ofgem-rated comparison website.
What do I need to switch?
The process will run much more smoothly if you collect the following bits of information first:
- Your name
- Your address and postcode
- The name of your current moving electricity connection supplier
- The name of your plan/tariff
- The amount you spend on gas and electricity
- Your bank details
Once you have all the info, you can begin. But before that, gather up your invoices and any other relevant information from your utility company or current supplier.
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When can I switch energy suppliers without penalty?
Checking your current energy supplier can be confusing, but there are some important things to consider. For example, is there an exit fee? If you’re on a standard variable tariff, you’re free to terminate your contract without paying an exit fee. If you’re on a fixed-term plan, it’s good to be aware that you may be subject to one. As of right now, it looks like variable rates are the least expensive option!
How to switch energy supplier
- Visit an energy price comparison website.
- Enter the requested information
- Compare your options
- Select your supplier and tariff
How do I compare energy prices?
When offered a long list of results, comparing energy prices can seem like quite a daunting task. Use the filters on sites to narrow down your search further, compare plans with no exit fees, or hide everything but fixed-rate plans. This usually helps reveal the cheapest deals on offer.
You’ve selected a supplier and sent over your information to start the switch. What happens next? You enter a transition period while your details are processed, and your new supplier arranges the switch-over. I’ll get in touch to confirm a date, which can take up to 21 days. There’s no disruption to moving electricity connection service during this period, and there’s no need for an engineer to come and fix new cables or pipes.
You’ve probably heard it before, but it is worth the hassle. With no penalties, you have a 14-day cooling-off period to back out of the switch. Speak to your new supplier first to ensure that you’re still interested in it. Keep an eye on the cheapest energy plans to avoid missing a good deal. Follow all the instructions carefully for the best chance of switching successfully.