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How to switch and save on your energy bills
Many experts say that switching your energy supplier can save you money but how exactly do you go about switching and how can it benefit you?
With hundreds of energy suppliers on the market, there are plenty of options available for households up and down the UK when it comes to finding themselves the best deal on their energy bills.
As long as you pay your own energy bills and you are not in debt to your current energy supplier, then you can look into switching your energy provider. Whether you pay by direct debit or pre-payment meter, you will be able to switch your gas, electric or both by searching the market for the best deal.
Why you should switch
The main reason for switching energy bills is to save money on your monthly and yearly expense for gas and electricity. Dependent on your circumstances and the offers available, some people have been able to save around several hundred pounds on their annual energy bill.
You may also be able to switch to a tariff which is more environmentally friendly or move to a provider which offers you a better service than you currently receive. For some people these things are important and a lack of either can push them towards switching providers.
How you switch
Whether by phone or online, you can switch providers by going direct to the provider you want to switch to or by using a comparison site which will show you the best deal on the market and you can purchase that deal through their site as well.
Before comparing providers or tariffs, always check which providers actually serve your postcode as some energy companies only supply to certain areas in the country. Once you know which providers will serve your house you can compare their tariffs based on the information you have provided to them.
The best way to get the most accurate results is to enter your current energy usage which you can find on your most recent energy bill or your smart meter. Once you have confirmed your switch, you will need to provide your new energy supplier with a meter reading and then you will be all set up. If you owe your old supplier money or you are due a refund, then you should get in touch with your old supplier to sort this.
What you should keep in mind
There are a few things to keep in mind when it comes to switching your energy supplier including:
- You are likely to have to pay a cancellation fee to your existing energy provider which is usually around £60 for dual fuel tariffs and half that for each service. However, if your contract is nearly up, you may not have to pay cancellation fees so the best time to switch is near the end of your contract.
- It usually takes around 21 days for your energy service to be switched from one provider to another. Providers will agree between themselves on the best date but this will not affect your supply or usage.
- Look into government schemes such as the Winter Fuel Payment and the Warm Home Discount Scheme which can help you save money on your energy bills if you earn a low income, receive a state pension or any state benefits. If you already benefit from these schemes, make sure they are taken into account on any new tariffs so you don’t lose out on what you are entitled to claim.