Ever since the deregulation of the energy market in the United Kingdom, energy consumers have had more choices when it comes to their energy suppliers. While this offers consumers more flexibility and options, it can also be confusing and daunting when it comes to switching suppliers.
Switching your energy supplier is a big decision that can save energy as well as money in the long run. However, it’s important to be aware of the process and what to expect before you switch. Ensure that before you start this process you get an electrical Inspection done. Here are five tips to keep in mind while switching your energy supplier.
Do Your Research
Before you switch suppliers, it’s important to do your research and compare prices. When conducting your research, there are a few factors to consider.
The first is the type of tariff you are on. There are three types of tariffs: standard, fixed and variable. Standard tariffs are the most common type of tariff and are usually the most expensive. Fixed tariffs are where you agree to pay a fixed price for your energy for a set period of time, usually one or two years. This can be a good way to protect yourself from price rises. Variable tariffs are where your energy prices can go up or down, depending on the market.
The second factor to consider is whether you want to switch to a green tariff. Green tariffs are tariffs where a proportion of your energy comes from renewable sources, such as solar or wind power.
The third factor to consider is whether you want to switch to a prepayment tariff. A prepayment tariff is where you pay for your energy in advance rather than through monthly bills.
Choose Your New Supplier
Once you’ve done your research, it’s time to choose your new supplier. There are a variety of suppliers to choose from, so make sure you shop around and compare prices.
When choosing a supplier, be sure to ask about the tariffs available and what’s included in the price. It’s also important to read the terms and conditions of the contract before you sign up. This will help you to understand the terms and conditions of your new contract.
You must also provide your current supplier with your new supplier’s details so they can transfer your account. This will enable you to continue using your current energy supply without any interruption.
Also, make sure you provide your new supplier with your current meter readings. This will help them to accurately bill you for your business energy switch usage.
It’s also important to note that you will not be able to switch suppliers if you are in debt to your current supplier. If you are in debt, you will need to contact your supplier and arrange a payment plan before you can switch.
Make Sure to Check All of Your Energy Rates
Before you switch suppliers, check the following to avoid any unpleasant surprises later:
Do you have to pay an exit fee if you terminate your policy? Some suppliers charge an exit fee if you terminate your policy before the end of your contract.
Are you on a fixed or variable tariff? If you are on a fixed tariff, make sure you know when it expires and what the prices will be after it expires.
What is the standing charge? The standing charge is a fixed fee that you pay regardless of how much energy you use.
What is the price per kWh? The price per kWh is the price you will be charged for each unit of energy you use.
Are there any installation/activation fees? Some suppliers charge an installation/activation fee.
What is the contract length? Make sure you are aware of the contract length.
Are there any hidden fees? Some suppliers charge a connection fee or a meter reading fee.
What is the cancellation policy? Make sure you are aware of the cancellation policy. If you cancel your contract before it expires, you may be charged a fee.
Sign Up for Your New Contract & Update Your Contact Information
Once you’ve chosen your new supplier, it’s time to sign up for a new contract. This can be done online, over the phone, or in person.
You will need to provide your new supplier with your name, address, contact details, and meter readings.
You will also need to provide your current supplier with your new supplier’s contact details. This will enable them to transfer your account to your new supplier.
Towards the end of your new contract, be sure to contact your new supplier to renew your contract. This will ensure that you don’t experience any disruptions in your service.
It’s also important to keep your contact information up-to-date with your new supplier. This will help to ensure that you receive important updates and notifications about your account.
Check Your Energy Usage Regularly
It’s important to check your energy usage regularly to ensure that you are on the right tariff. You can do this by checking your meter readings.
If you find that you are using more energy than you expected, you may need to switch to a higher tariff. If you are using less energy than you expected, you may need to switch to a lower tariff.
It’s also important to monitor your energy bills and try to use energy saving home appliances. This will help you to identify any irregularities in your energy usage.
If you notice any discrepancies, be sure to contact your supplier and request a meter reading. This will help to identify any errors in your billing.
Regularly checking your energy usage and bills can help you to save money on your energy bills. As a result, you’ll be able to do more with less. Your overall household cost will decrease as a consequence.
Conclusion
Switching your energy supplier can be a hassle-free process if you keep the following tips in mind. By following these tips, you can ensure a smooth transition to your new supplier.
Please feel free to contact us if you have any queries. Thank you for taking the time to read this post. Good luck!
