Switching energy suppliers! it is a lot of hassle and is it really worth it?
By Fortis Living Home Energy Advisor Karen Adam.
No it isn’t a hassle and yes it really is worth it!!! Switching is pretty straight forward now and will only take about 10-15 minutes using a price comparison site and either doing it online or on the phone. The price comparison site does all of the work for you, all you will need is a copy of your latest bill or annual energy statement to hand and have your bank details ready if you want to pay by direct debit. (Don’t worry if you don’t have that information, you could still switch but it will be based on guesstimates so might not be as accurate and you may have an exit fee on your current tariff that you aren’t aware of.)
Once the switch is complete all you will need to do is give your new supplier a meter read when requested which is usually after about 2 weeks. Simple!! The comparison site sorts out everything else with the suppliers.
I am regularly doing price comparisons for colleagues and our customers and haven’t come across anyone that wouldn’t save money by switching. The average saving is about £300 a year. I use the Uswitch site as it is Ofgem accredited but there are many other price comparison sites which are also Ofgem accredited. Uswitch will show you the whole market, even suppliers that they can’t switch you to and have given me excellent customer service so far. They also do fantastic Uswitch Exclusives that aren’t available to the rest of the market.
Here is an example of a switch that I completed this week.
My customer was on a standard tariff monthly direct debit plan with British Gas. Annual energy costs £1188.20
Switching to Eon Go online Fix 12 Months V12 (U switch Exclusive )annual energy costs £977.94 saving £210.
How does this work out?
This particular customer could have saved even more if she was able to switch to a small supplier. Avro would have saved her £309.40 a year but they don’t do the Warm Home Discount.
Avro Energy Simple & Glory Fix 12 months.
Gas 2.905p kWh, daily s/c 17p day
Electric 11.28p kWh daily s/c 17p
Annual spend £878.80 potential saving £309.40
Outfox The Market were also offering a deal that could save £409 a year but this was a variable plan with no price protection which is risky with increasing oil prices although there wasn’t any exit fee with this supplier so could be worth a look.
The Big 6 Energy Suppliers have just increased their prices so even more important to think about getting a better deal now.
Well what have you got to lose? Get switching now!
Written by Fortis Living Home Energy Advisor Karen Adam.