Can you switch energy providers? Yes, absolutely! Changing your energy provider is a straightforward process designed to help you find better deals and save money on energy bills. If you’re wondering how to swap energy suppliers, you’re in the right place. This guide will walk you through everything you need to know about switching gas and electric, from comparing deals to making the switch.
Why Swap Energy Suppliers?
The energy market can seem complex, with many companies offering different energy tariffs explained. However, the ability to switch providers is a powerful tool for consumers. Think of it like shopping around for groceries or a new phone plan; by comparing options, you can often find better prices or services.
Here are the main reasons to consider changing your energy provider:
- Lower Prices: This is the most common driver. Different suppliers have different pricing structures, and you might be on an expensive tariff with your current provider.
- Better Customer Service: Some people switch because they are unhappy with their current supplier’s customer service, or they’ve heard good things about another company’s support.
- Greener Energy: If environmental concerns are important to you, you might switch to a supplier that offers 100% renewable energy tariffs.
- Novel Features or Plans: Some suppliers offer smart meter services, app-based account management, or loyalty rewards that might appeal to you.
- End of a Fixed-Term Contract: Once your fixed-term contract ends, your prices usually revert to the supplier’s standard variable tariff, which is often more expensive. This is the perfect time to look for best energy deals.
Fathoming Your Current Energy Situation
Before you start moving electricity provider or finding a new gas supplier, you need to know what you’re currently paying for. This involves a little bit of detective work.
What You Need to Know
- Your Current Supplier: This is the company you pay your energy bills to.
- Your Tariff Name: This is usually found on your bill. It might be a fixed rate, a variable rate, or a specific promotional tariff.
- Your Annual Usage: The best way to compare is by knowing how much energy you use. Look at your last year’s bills. Suppliers usually state your annual consumption in kilowatt-hours (kWh) for electricity and cubic meters or kilowatt-hours for gas.
- Your Direct Debit Amount: While not as precise as usage, it gives a general idea of your current spending.
- When Your Contract Ends: If you’re in a fixed-term contract, there might be exit fees for leaving early. Check your contract details.
Finding Your Usage Data
Your energy bills are the best source of information. Look for sections that detail:
- Electricity Usage: Typically shown in kWh per year or per billing period.
- Gas Usage: Often shown in cubic meters or kWh per year.
If you don’t have your bills handy, you can often log into your account on your energy supplier’s website. They usually provide historical usage data. If you’ve recently moved into a property, ask the previous occupants or the estate agent for an estimate of typical energy usage. You can also use smart meter data if you have one.
Comparing Energy Suppliers: Your Roadmap to Savings
This is where the real magic happens. Energy supplier comparison websites are your best friends. They allow you to input your details and see a range of available tariffs from various companies.
How Comparison Sites Work
These websites act as intermediaries. You provide them with your postcode, your estimated annual energy usage, and whether you want gas and electricity from the same supplier or different ones. They then scan the market for you and present a list of available deals.
When using a comparison site, you’ll typically see information like:
- Supplier Name: The name of the energy company.
- Tariff Name: The specific plan they are offering.
- Unit Rates: The price you pay per kWh for electricity and gas.
- Standing Charges: A daily fixed fee that covers the cost of supplying energy to your home, regardless of how much you use.
- Contract Length: How long the tariff is fixed for.
- Exit Fees: If applicable, the cost to leave the contract early.
- Estimated Annual Cost: Based on your usage, this is what the supplier estimates you’ll pay per year.
- Renewable Energy Content: Whether the electricity is from renewable sources.
What to Look for in a Deal
When sifting through the results, focus on these key elements for switching energy plans:
- Annual Cost: This is the most important factor for saving money on energy bills. However, don’t just pick the cheapest one without considering other aspects.
- Unit Rates and Standing Charges: For heavy users, unit rates might be more critical. For low users, a high standing charge can make a big difference.
- Contract Length: Do you want to fix your prices for a short period (e.g., 12 months) or a longer one (e.g., 2-3 years)? Longer fixes can offer more price stability but might mean missing out on market drops.
- Exit Fees: If you’re currently in a fixed-term contract, check if there are exit fees and when they apply. Some comparison sites will show you tariffs that are available penalty-free if your current contract is ending soon.
- Supplier Reputation: While price is key, it’s also wise to consider customer service reviews. A slightly higher price might be worth it for a supplier with excellent support.
Top Comparison Websites
Several reputable comparison websites can help you find best energy deals:
- MoneySuperMarket
- Compare the Market
- GoCompare
- Uswitch
These sites are Ofgem-accredited, meaning they adhere to industry standards for fairness and transparency.
Deciphering Energy Tariffs Explained
The world of energy tariffs can seem a bit daunting at first. Let’s break down the common types to help you make an informed decision when changing your energy provider.
Types of Energy Tariffs
- Standard Variable Tariffs (SVTs): These are the default tariffs offered by suppliers. The price per unit of energy and the standing charge can change, usually in line with wholesale energy costs. They often have no exit fees, making them flexible, but can be more expensive than fixed tariffs.
- Fixed-Term Tariffs: With these tariffs, the price per unit of energy and the standing charge are fixed for a set period (e.g., 12, 18, or 24 months). This means your bills won’t change even if wholesale energy prices go up or down during that period. They often have exit fees if you decide to switch before the contract ends.
- Dual Fuel Tariffs: This is when you get both your gas and electricity from the same supplier. Many suppliers offer a small discount for taking both services from them.
- Economy 7 / Economy 10 Tariffs: These tariffs offer cheaper electricity prices during off-peak hours (usually overnight) and more expensive prices during peak hours. They are best suited for homes with storage heaters or other appliances that can be timed to use electricity during these cheaper periods. You’ll typically have two meter readings for electricity with these tariffs.
- Green Tariffs: These tariffs guarantee that the electricity supplied comes from renewable sources, such as wind, solar, or hydro power. Some suppliers offer 100% renewable electricity as standard.
What Are Exit Fees?
If you’re in a fixed-term contract and decide to switch suppliers before the contract ends, you will usually have to pay an exit fee. This fee is typically around £30 per fuel per supplier, but it’s important to check your contract for the exact amount.
There is a “cooling-off period” when you first switch. This is usually 14 days from when you agree to the new contract. If you switch within this period and change your mind, you should not be charged an exit fee by your new supplier. However, your old supplier might still try to charge you if you’ve started using their energy.
Your current supplier cannot charge you an exit fee if you switch within the last 49 days of your contract. This 49-day window is often referred to as the “contract end window.”
The Switching Process: Step-by-Step
Ready to make the move? Switching gas and electric is surprisingly simple.
Step 1: Gather Your Information
As mentioned earlier, have your postcode, annual usage figures (in kWh), and current supplier name ready.
Step 2: Use an Energy Comparison Website
Enter your details into a reputable comparison site. Take your time to review the options presented. Don’t just look at the cheapest upfront cost; consider the unit rates, standing charges, contract length, and supplier reviews.
Step 3: Choose Your New Supplier and Tariff
Once you’ve found a deal you’re happy with, click through to the supplier’s website to finalize the switch. You’ll need to provide a few more details, such as your contact information and bank details for direct debit.
Step 4: Your New Supplier Contacts Your Old One
You don’t need to tell your old supplier you’re leaving; your new supplier will do this for you as part of the switching process.
Step 5: The Cooling-Off Period
After agreeing to the new contract, you’ll have a 14-day cooling-off period. During this time, you can change your mind. If you do, inform your new supplier immediately.
Step 6: Meter Readings
Before your switch takes effect, you’ll be asked to take a meter reading. This is crucial for ensuring you’re billed accurately by both your old and new suppliers. Your new supplier will tell you the exact date the switch is due to happen. Take a photo of your meter readings on that day for your records.
Step 7: Final Bill from Your Old Supplier
Your old supplier will send you a final bill based on your last meter reading.
Step 8: Welcome Pack from Your New Supplier
Your new supplier will send you a welcome pack detailing your new tariff, terms, and conditions.
Step 9: Start Enjoying Your Savings!
Your new energy supply should now be active. Keep an eye on your first few bills to ensure everything is correct.
Tips for Successful Switching
- Don’t Be Afraid of Variable Tariffs (with caution): If you’re in a fixed-term contract that’s ending soon and prices are expected to fall, a standard variable tariff with no exit fees can be a good short-term option. You can then switch again if better fixed deals become available.
- Factor in Exit Fees: If you’re still deep into a fixed contract, calculate the total cost of staying versus switching (including exit fees). The comparison site should help with this.
- Consider Dual Fuel: Often, you can get a better overall deal by keeping your gas and electricity with the same supplier.
- Read the Small Print: Always check the contract length, exit fees, and any specific terms and conditions before committing.
- Be Aware of Price Cap Changes: In some regions, there’s a price cap on standard variable tariffs. While this protects you from extreme price hikes, it doesn’t stop suppliers from increasing prices within the cap. This is why comparing and switching remains vital for saving money on energy bills.
- Know Your Usage: The more accurately you can estimate your annual usage, the more accurate the comparison results will be.
- Don’t Stick with the Default: Suppliers rely on people staying with them out of inertia. Actively comparing and switching is the best way to ensure you’re not overpaying.
- Trust Your Instincts: If a deal seems too good to be true, it might be. Always research the supplier and read reviews.
Common Questions About Moving Electricity Provider and Finding a New Gas Supplier
Here are some answers to frequently asked questions about changing your energy provider and switching gas and electric.
What happens if I have a smart meter?
Smart meters don’t prevent you from switching. In fact, they can make the process smoother as they send meter readings automatically. Your new supplier will be able to read your smart meter remotely, so you won’t need to provide manual readings.
Can I switch if I have a prepayment meter?
Yes, you can switch if you have a prepayment meter. However, the range of tariffs available to prepayment customers might be more limited than for those who pay by direct debit. Some suppliers have specific prepayment tariffs. You’ll need to use comparison sites that allow you to filter for prepayment options.
What if I owe money to my old supplier?
If you owe money to your current energy supplier, you may still be able to switch. However, you might need to clear your debt first, or the new supplier might agree to take on the debt as part of the switch. This varies by supplier, so check with your potential new provider.
How long does the switching process take?
The entire process, from choosing a new supplier to your supply being transferred, usually takes around 17 days. This includes the 14-day cooling-off period.
What if my new supplier goes out of business?
If your new energy supplier goes bust, your supply will not be interrupted. Ofgem, the energy regulator, has a safety net in place. They will appoint a new supplier to take over your account. Any credit you had with the old supplier will usually be protected and transferred to the new one.
Do I need to inform my old supplier?
No, you don’t need to inform your old supplier. Your new supplier will handle the termination of your contract with your previous provider as part of the switching process.
What are the benefits of switching energy plans?
The primary benefit is saving money on energy bills by finding a cheaper tariff. Other benefits include potentially better customer service, access to greener energy options, and more convenient account management features.
Can I switch if I’m renting?
If you are a tenant, you usually have the right to choose your energy supplier, even if the bills are included in your rent, provided you are responsible for paying the energy bills. If your landlord pays the bills, you’ll need to discuss it with them.
What if I have no credit history?
Some energy suppliers are more lenient with credit checks than others. If you’re struggling to find a supplier willing to offer you a credit account, a prepayment meter might be the only option initially. Building a good payment history with them can help you switch to a credit-based account later.
How often should I compare energy suppliers?
It’s a good idea to compare at least once a year, especially when your current fixed-term contract is coming to an end. This ensures you’re always on the most competitive energy tariffs explained and not defaulting to a more expensive standard tariff.
By following these steps and tips, you can confidently navigate the process of changing your energy provider and unlock significant savings on your energy bills. Happy switching!