How to Switch Energy Suppliers

Switch

What’s in this guide?

Introduction

Many people think that when you switch energy supplier, it’s confusing, complicated and painful.

While that may have been true in the past, thanks to both the law and the increase of comparison websites, switching is actually a lot more simple than you’d think.

Plus, you could be saving over £100s a year on your energy.

Yes, really.

Things to check before you switch

Before you switch, there are things you need to check before you do.

For instance, many energy suppliers will charge you an exit fee if you try and switch before your tariffs end date.

These exit fees are most common when you have a fixed energy tariff, which is when your energy costs are fixed per kWh oppose to the variable tariffs which increase or decrease depending on the open energy market.

Your supplier will inform you 42 – 49 days before your contract is meant to end.

To find out when your contract ends:

  • Find your most recent energy bill, as it should be detailed in the section dedicated to your key information
  • Call your current supplier
  • You’ll receive an end of tariff notification

What you’ll need to switch

To switch, this is the information you’ll need to hand.

  • Current postcode
  • Name of your energy supplier
  • Your tariff
  • Your energy spend
  • Up to date meter reading
  • Bank details
  • Your Meter Point Access Number or ‘MPAN’
  • Meter Point Reference Number ‘MPRN’

Compare suppliers

Once you have checked whether you have exit fees and you have everything you need to get an accurate quote, you can start comparing companies.

Many important factors should be considered when deciding which supplier would be best for you, plus some that you may not have thought of.

Price

The cost of your energy is understandably one of the most important things to consider when deciding whether to switch provider, mainly when your savings could be in the hundreds of pounds!

Using the EnergySeek comparison tool, you can see how much favourite energy suppliers charge for their electricity and gas, which can help you make an educated choice about which energy company might be best for you.

Trustpilot Rating

Excellent customer service is perhaps just as essential as a cost-effective price for many customers, and one of the best ways to gauge how customers feel about a company is to check trusted websites such as Trustpilot.

Although online reviews aren’t always accurate, there is usually truth in the amount of positive or negative reviews a supplier has, plus the content of those reviews will tell you what to look out for and the perks.

Digital Account Management

If you’re tech-savvy, using online account management or an app may be second nature to you.

But even for those who usually receive their bills via the post have started to prefer online account management, as energy suppliers invest a considerable amount of money into their online services to ensure that you’ll rarely run into any problems.

It also helps the planet, and you could even save money as often suppliers with paperless tariffs give discounts to their customers.

Cancellation Fees

Depending on the supplier, exit fees can range between £15 and £60 when you switch.

This could even mean that you will lose the savings you made by switching supplier, so it is essential to see whether your tariff end date is coming up soon, and if your new supplier has exit fees – so you won’t run into that problem again.

Some suppliers such as Bulb do not have any exit fees, plus they will pay for yours if you incur any.

Discounts

Sometimes suppliers will offer you discounts, either for things such as having a dual fuel tariff where you get both your electricity and gas from the same supplier, or for things like having paperless billing.

Top 5 energy suppliers

For an idea of the top 5 energy suppliers, see the table below.

This doesn’t just take price into consideration, but all of the points made in the ‘compare suppliers’ section as they are just as important to note.

Supplier Trustpilot Rating Discounts available Cancellation Fees Price per year

Digital account

Bulb ★★★★★ None None £855
Octopus ★★★★★ None None £931
Igloo Energy ★★★★ 3% reward on credit balances None £871
Pure Planet ★★★★ £30 dual fuel discount per year None £908

How long it takes to switch

Typically, switching energy suppliers can take from four to six weeks to complete, which includes the 14-day cooling off period that allows you to be able to cancel your switch without incurring a fee.

Thanks to new laws and regulations, your new supplier will take care of your switch for you, saving you precious time and likely money, taking all of the stress out of switching.

More often than not, all your new supplier will need from you is a meter reading a couple of weeks before your supply is switched over.

Conclusion

Are you ready to compare and switch?

Would you like to learn more about your energy?

Take a look at the EnergySeek guides to find out more about your energy, or see the top energy switching sites and compare.