With energy bills constantly on the rise, it’s time to consider switching your tariff or supplier to get a great deal on gas and electricity. If you have decided it’s time to switch energy suppliers and save money, read on to find out how the switching process works.
We will need to know a bit about the details of your current provider. This includes the name of your tariff and how much you spend on electricity. You can find all this information on your most recent bills or the annual statement sent by your energy supplier. If you don’t have your latest energy consumption available to you, our estimation tool can work it out for you based on your household information. If you are moving or have recently moved to a new house, you can also use our energy comparison tool to get an accurate quote and switch energy suppliers online.
Once you have entered your information, you will be taken to a page that displays a list of suppliers that offer you the best deal than the one that you are currently on. Once you have decided to switch, and have chosen the tariff you wish to switch to, you will be directed to a page with an energy switching form. Once you enter your details, your new energy supplier will calculate your new bill and send the details of the new reading to your old supplier who will then send you the final bill.
Once the final bill is issued to you by your old supplier, you will be able to see whether or not you have a credit or debit balance, and how you much money owe them. Here comes the best part. If you have not paid enough to cover the energy you have been using, or if you have fallen back with your energy bill for whatever reason, you will still be able to switch as long as your debt does not exceed £500 and you will have to arrange a payment plan to pay your previous supplier what you owe them.
Confirming your switch takes only a few minutes, but the actual energy switching process takes 21 days. This also includes a 14 day cooling off period in the event you change your mind and want to cancel the switch. As mentioned, the changeover process is easy and does not need a plumbing or re-wiring. Your new supplier and the old supplier will schedule a date between themselves and will notify you of the date of the switch.
If you have a prepayment meter you can switch to a credit meter. The process is fast and straightforward. Realize that some suppliers charge to switch from prepayment meter. So be sure to contact your provider to find out if they charge for the prepayment meter change. If you can’t switch to a credit meter, consider switching to a prepayment tariff that offers a better deal.
You can switch energy suppliers whenever you like. However, you may be charged an exit fee (which can be up to £30 per fuel) if you are on a fixed-term deal, that is if the amount you pay for your energy is fixed for a certain length of time (usually a year). Some suppliers won’t charge you an exit fee, although you may be charged more for your energy as a result.
You will not be charged an exit fee in the last 7 weeks (49 days) of your deal. Plus, your energy company is obliged to notify you that your fixed-term deal is coming to an end. This is the best time to look for a new deal and avoid an exit fee.