Switching your energy supplier. Just the sound of it is enough to trigger feelings of hassle and stress. We’ll be honest, there is a little legwork to be done, but the impact of being proactive when it comes to switching can be huge, especially when it comes to your monthly outgoings. In fact, by switching your gas and electricity supplier, you could save upwards of £200 a year, and even more so if you haven’t switched your energy in the past 5 years. So, what do you need to do in order to begin the switching process?
Well, to start with, you’ll need the following information:
- The name of your current supplier
- Either how many Kilowatt hours (or kWh) you use (you can find this out on your bill), or your monthly spend– if you can’t find this information, energy comparison sites have calculators that can assist you with your estimated usage - Your bank details
After you’ve got all this information together, it’s time to start thinking about your exit to another supplier. At this moment, you might consider whether there is a cost attached to you leaving. This is more likely to apply to you if you’re looking to switch supplier a few months before the contract end date; all suppliers, however, provide you with the option of switching your contract 49 days out without incurring a fee. We’d recommend checking with your supplier before making your decision on when you leave.
If it’s your first time switching, it might be a bit of a minefield if you’re unsure where to look for the best deal. One of the most popular and quickest ways is via an online comparison site. Our partner, energyhelpline, have scoured the market looking for great rates for customers, and at ClearScore we can provide you with a range of deals, personalised to you. Simply log in to get started and see your latest offers. So, let’s say that you’ve found a new tariff that’s right for you and saves you a nice chunk of money. There are still a few things that need to happen. Let’s take you through them one by one:
- If going through a comparison service, they will contact your new supplier and let them know of your intention to switch to their tariff- Agree to the new contract and its subsequent terms and conditions
- At this point, you will also agree to a 14 day ‘cooling off’ period
- Your new supplier will then contact your existing supplier and let them know that you’re looking to switch to them
- Your new supplier confirms start date and requests a meter reading from you
- You receive your final bill from your current supplier (based on your initial meter reading for your new supplier) and settle any outstanding money (or if you’re lucky, get a refund from the supplier reimbursing you for any overpayment)
Switching your energy supplier - whilst it requires 15 minutes of your time and a couple of bits of information, it’s a small price to pay for potentially saving hundreds of pounds a year. Don’t forget to log in to ClearScore and get a range of personalised deals on gas and electricity, courtesy of energyhelpline.