Should you switch energy suppliers?

Last year, 6.4m people switched energy companies in the UK. Our partner Energy Helpline says that 10% of those that have switched suppliers have saved on average £461 through switching their gas and electricity suppliers.

There are definite savings to be had, and you should use an energy comparison service that compares the whole market of energy suppliers.

According to a survey from the Energy Switch Guarantee (ESG):

  • Over a third of those who haven’t switched energy supplier say they are happy with their current supplier’s service (39%) or with the price of their tariff (34%);
  • Of the over 65-year olds that haven’t switched supplier in the past four years, two in five (41%) said they would only switch if current supplier’s customer service deteriorates;
  • For the majority of consumers (79%) price was the main reason for them to switch;
  • Over eight in 10 (83%) consumers who have switched energy supplier in the last four years are happy with the process.

Whilst 39% of consumers are happy with the price and their tariff, Energy Switching UK recommends that people should still look to compare energy providers to identify savings – as almost 80% are consumers will switch to identify cost savings.

The Energy Switching Guarantee service makes switching easy, and contrary to popular belief, it’s as simple as switching contracts rather than any sort of physical pipes being changed.

It’s really simple and hassle-free – and if you are concerned then read on:

  • No disruption to existing services. Even if you’re getting a new smart meter ore pre-payment meter, your new energy supplier will work with you to arrange a good date to get that installed without any disruptions.
  • Switching energy suppliers should not take anymore than 21 days.
  • New supplier will not need to make any visits to your home to make the switch.
  • Your new supplier will be the ones to tell your old supplier the bad news that you are switching to hopefully a more competitive tariff.

In the current climate, it might be sensible to switch suppliers to see if you could save.