Should I switch Energy providers to save money?
If you are unhappy with your current energy provider for any reason whether that is the price or customer service then you could think about switching.
Switching Energy providers
It is recommended to keep an eye on deals from energy providers so you can find the cheapest deal for your home. Use comparison site such as, Money Supermarket or Uswitch to find the best deals.
It typically take 5 days to switch providers so timing is key.
If you pay direct to the supplier then you have the right to switch providers, even when renting. If you are on a fixed deal you will have to wait until the end of the deal to switch or pay exit fees.
Fixed Term or Variable deal
You can choose between having a fixed term or variable deal with your energy provider.
With a fixed term your price will be set from the beginning, the price will depend on the energy provider as well as the Ofgem price cap at the time you sign the deal. This price won’t change for you even if the price cap does. If you want to switch but you are on a fixed term them you will have exit fees to pay unless you manage the switch at least 49 days before the end of the deal.
With a variable deal the price of your energy will change with inflation, as Ofgem changes the price cap and as the energy provider changes their prices. This could mean your price could decreases as this July Ofgem had lowered their price cap for providers to match. Your bills can also go up as the price cap is set to rise before the winter months.
Paying your energy bills
If you are struggling to pay your energy bills then contact your provider. There are lots of ways to cut down your energy usage which can reduce the cost each month. You can ask your provider for a smart meter and learn how to use it efficiently.
Don't put it off if you want to switch energy providers.