Advice on Switching Energy Suppliers – When and How to Do It?
Nowadays, you will find that almost every area has multiple energy suppliers to choose from. With the increased options, people should always strive to find the best power deals. But some people often wonder – what’s the need to change their energy supplier? Is it worth the hassle?
Usually, a rise in energy bills will trigger people to switch to a new supplier. However, some people worry that changing suppliers might increase their expenses. But with the advent of free services like Glimp, it has become easier to compare and find cheap energy plans.
Follow this guide to understand when and how you should switch to a new power supplier.
When Should You Switch to a New Power Supplier?
The primary reason behind making an energy supplier switch is to ensure that you are not paying unnecessarily extra for your internet, electricity or gas. If you are on a fixed deal, you automatically get moved to the supplier’s standard variable rate tariff at the end of your plan. The tariff will usually lead to increased charges on monthly bills if you don’t make the switch at the right time.
The best times to change your power supplier are as follows:
When You Move House
If you have recently changed to a new place, it’s a great time to opt for a new power supplier. You might be shifting to a different part of the country. You might also have a smaller or bigger home and have new electrical appliances. All these factors will bring changes to your energy needs.
When There are Frequent Issues
We cannot afford internet downtime in the digital world as it disrupts our day-to-day work. If you have been facing frequent power outages from your internet supply, it’s time to quit.
When There’s a Change in Your Life Circumstances
Your energy needs might change according to your stage of life. For instance, if your kids left for college, you might need the same amount of electricity and gas as before.
If you now work from home instead of from the office, you might need a bigger internet package.
Maybe you have retired, and you will stay more at home, leading to increased electricity consumption even during the daytime.
When the Prices Are About to Go Up
If you are charged based on a standard variable tariff, you will receive a warning regarding a price rise. At this point, it is quite sensible to opt for a more cost-effective power supplier.
Particularly if you switch to a cheaper tariff rate, your expenses will be lowered considerably.
When You Are Changing the Meter Type
People on a prepayment meter enjoy a restricted range of tariff values. But anyone with a regular meter can access different energy tariffs. The energy tariffs on a regular meter can help people save money in the present as well as in the long term.
Switching to a cheaper power supplier and obtaining a regular meter can be even more beneficial.
When the Demand Is Low
Energy prices are on the higher side during peak demand as the heavy demand causes a scarcity of power supply.
During this time, the local utilities depend on secondary sources to meet customer demands. Therefore, the energy prices will be high, and switching suppliers won’t help reduce your bills due to the high demand.
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When the Weather Is Moderate
During the hot summers, you will be heavily reliant on the cooling systems. During the harsh winters, the heating systems will come to your rescue. Due to the heating and cooling systems running round the clock during extreme weather, the energy demand is quite high. But when the temperature is moderate, power suppliers become competitive and offer quite attractive deals to customers.
How to Switch to a New Energy Supplier
People who want to switch their power supplier should abide by the following steps:
Look for a New Power Supplier
Since all power suppliers are not available everywhere, you should look for one using your Zip code. You will find quite a few energy suppliers, but luckily you don’t have to make a manual comparison to find the best one, thanks to Glimp.
Pay Off Debts to Your Current Supplier
You won’t be able to switch power suppliers if you owe a debt of over 28 days against your current supplier. Therefore, clear all your debts before making a switch to a more cost-effective energy supplier.
Apply for the Switch
Once you pay all your debts and decide which plan you want from the new supplier, you should contact them. They will, in turn, inform your current supplier about the change of service. You will receive a confirmation message to ensure that the switch has been successful.
Switch and Save!
Changing your power supplier can help you save money and even receive better customer service. However, beware of extra charges if you are switching your power supplier before the end of a contract.