Switching energy suppliers can save you money and is usually an easy process, once you know how to do it! But for those who’ve never switched before – here’s our step-by-step guide. We’ll show you how to compare tariffs, switch energy contracts and secure the cheapest gas and electricity for your home!
Check Your Current Contract #
Before switching energy suppliers, review your current energy contract to check if any exit fees or notice periods apply. If you’re on a standard variable tariff you can switch at any time. If you’re on a fixed tariff with more than 50 days left on your contract – you may have to pay to leave early. You can determine your contract end date from your latest statement or your online account.
Although not all tariffs have exit fees – most do! Some can even be as much as £150 per fuel type. For this reason, it’s important to check how much you might be paying to leave. And whether this impacts the overall saving you’ll make by switching.
Switching energy suppliers is still a possibility – even if you’re a tenant. If you rent a property and pay your own energy bills – under consumer protection law you are entitled to choose your own energy supplier.
However, if your landlord pays the bill; they will select the energy supplier. This often applies if your energy costs are included in your overall rent fee. If you’re unsure, your tenancy agreement should state who is responsible for paying your energy bills.
Gather Your Information #
Collect your latest energy bill. Take note of your current tariff, energy usage and supplier information. These are some of the important details you will need to keep handy to secure the best energy deal for your property.
Use Comparison Websites #
Visit reputable energy comparison websites like Uswitch, MoneySuperMarket, or Compare the Market. Using precise information printed on your energy bill will give you the most accurate quotes.
Energy prices vary per region, so it may mean that some deals are only available in certain areas. By supplying your full address, you’ll ensure you only get quotes that apply to your location.
By providing the name of your current supplier and tariff, you will be able to find the most accurate savings you can make by switching energy suppliers.
Entering your gas and electricity usage for the past year will also help to generate an accurate quote. Usage is generally shown in kilowatt hours/KwH’s for electricity and cubic metres for gas on your annual energy statement or online account.
If you don’t know your exact usage figure; you could try to estimate it. Sometimes comparison websites will ask for certain information to do this. Such as – how many people live in your home, your property type, and the number of bedrooms you have. This will generate a rough calculation – however, you may receive less accurate quotes by using this method.
To pay by direct debit – you will also need to provide your bank or credit card details at this stage.
Compare Tariffs #
Review the tariffs offered by different suppliers. But, also remember to compare the alternative tariffs your current supplier service offers – especially if you’re satisfied with their service. They may have cheaper deals than the one you’re currently on. So you may not even need to worry about switching energy suppliers!
Consider important factors such as unit rates, daily standing charges, contract lengths, and any additional rewards or incentives.
You may also need to check if certain tariffs require you to have a smart meter installed. If this is the case, it may be worth considering if fitting one could be worthwhile. Especially if it also secures you better energy deals in the long term!
Remember to check for upfront fees. Some tariffs may require one or two months’ payments or a security deposit in advance before they will supply energy to your property.
Most tariffs last for 12 to 24 months. Energy price caps rise and fall on a regular basis – so, it’s important to consider how long you want to stay locked into your contract.
Fixed Vs Variable #
Most fixed tariffs deals are cheaper than variable ones. However, if energy prices go down you might make longer term savings on a variable. As it’s impossible to predict how energy prices will fluctuate, you’ll need to consider which kind of tariff is most likely to suit your personal circumstances best. If you are sticking to a budget – a fixed tariff may work out better, as you will know exactly how much you’ll be paying.
Also, consider how you’ll be paying for your energy bills. Paying by a fixed direct debit means the yearly cost will be spread out, so you pay the exact same amount each month. With a variable direct debit, you pay for the precise amount of energy you use, meaning your monthly payments will probably fluctuate. This could make budgeting more tricky!
Check Supplier Reviews #
Research customer reviews and ratings for the suppliers you’re considering. This guide can help you compare energy companies for good customer service and reliability.
Choose Your New Supplier #
Once you’ve weighed up all your options and found a tariff that suits your needs and household budget – select the new supplier you want to switch to.
Start the Switch #
Visit the website of your chosen supplier or call their customer service to start the switch. Provide them with accurate personal details, current energy supplier information, and energy usage details.
UK energy suppliers must now adhere to the Energy Switch Guarantee which came into force on 1st April 2024. Under these guidelines – if your switch is not completed within 5 days, you will receive £30 compensation. This begins the day you agree a contract with your new supplier, and is separate to the two-week ‘cooling off’ period that allows you to cancel your contract free of charge if you change your mind.
As of April 2024, all of the companies listed below have now signed up to the Energy Switch Guarantee:
- British Gas
- EDF Energy
- E.On Next
- Octopus Energy
- Outfox the Market
- Ovo Energy
- Scottish Power
- Shell Energy
- So Energy
Confirm the Switch #
Your new supplier will handle the switch process for you. They will notify your current supplier and arrange the transfer of your energy supply. You’ll then receive confirmation of the switch and a switch date. However, you may also be given an opportunity to choose a switch date yourself.
If you choose to switch energy suppliers as soon as possible after agreeing your new contract – it could take up to 5 working days. You can also choose to switch 5 working days after your 14-day ‘cooling off’ period has ended. This can take up to 21 days after agreeing your new contract. You could also check with your new supplier if it’s possible to switch on a specific date that’s convenient for you.
Provide Meter Readings #
Before the switch date, provide meter readings to both your old and new suppliers. This will ensure accurate billing during the transition. If you have a smart meter, this part of the process will have been done automatically for you as your readings are continually updated in real time.
Providing accurate meter readings will also ensure that you aren’t charged by your new supplier for any energy used before the switch has taken place.
Finalize the Switch #
Once the switch is complete, you’ll receive confirmation from both your old and new suppliers. As soon as your new tariff takes effect, you’ll start receiving bills from your new supplier.
Your old supplier will usually send their final bill within 6 weeks. Once you have paid this – your account will be closed. However, if your final bill is not sent within this time frame – you may be owed compensation.
Although there’s usually no need to cancel any direct debits with your old supplier – if you want to make sure you don’t occur any extra charges, you could cancel it with you bank once you have paid any outstanding amounts. It’s also important to note that if you still owe money to your old suppler after 28 days – you may not be able to complete your switch until this is settled. This also applies if you are on a prepayment meter and owe £500 or more.
If you are in credit with your old supplier, you will be refunded any amount left on your account. The refund must be completed within 10 working days, or you could be entitled to compensation.
If you haven’t been switched within 15 working days of agreeing your contract and you have not been notified of any reason for this – you should contact your supplier to check that they have your correct details. If everything is in order and it’s found to be the supplier’s mistake – you should automatically receive £30 compensation within 10 working days via cheque or bank deposit. You are also entitled to raise a further complaint if this doesn’t happen.
Cancelling the switch #
You must contact your supplier as soon as possible, if you decide to cancel your switch for any reason.
If the switch has not been fully completed, you will stay with your old supplier.
If the switch has taken place but you’re still within your ‘cooling off’ period – contact your new supplier and tell them you wish to cancel.
You will then be given 15 days to choose from these three options:
- You can rearrange another contract with your new supplier.
- You can return to your old supplier on a similar contract to the one you’ve just left.
- You can negotiate a new contract with a different suppler.
If you do not choose any of these options within the 15 working days, you will be automatically put on a standard variable tariff with your new supplier.
If you choose to return to your old supplier, they must offer you a similar contract to the one you were previously on within 16 working days.
The 15 working day time frame begins on the day that you switch energy supplier. Until you rearrange a new contract with them or switch to a different supplier, your new supplier is obligated to supply your energy. You will of course need to pay for any energy supplied at this time. It’s also important to note that if your ‘cooling off’ period has expired, you may also have to pay an exit fee.
Review Your Bills #
After successfully completing you switch, make sure to regularly monitor your energy bills from your new supplier to ensure they reflect the agreed-upon tariff and your usage accurately.
Enjoy Potential Savings #
Hopefully, you are now enjoying savings on your energy bills with your new, more affordable tariff!
By following these steps, you can make switching energy suppliers easy! Helping you to compare energy tariffs effectively and save money on your gas and electricity bills all year round! For more tips on how we can help you to make your home more energy efficient – check out our Energy advice Helpline support hub.
