Energy

3 Top Reasons Why You Should Consider Switching Energy Suppliers

Energy bills are high for most of us here in the UK during the winter months, which makes switching energy suppliers that reduce your energy tariff all the more important

With the introduction of the new energy price cap from January 1st, 2019, households in the UK can save as much as £76 to £120 on utility bills depending on their tariffs. The new energy price cap might seem promising, but Ofgem aims to revise and raise it by April. However, officials from energy comparison sites such as Moneypug state that households in the UK can save a lot more if they considered switching their energy suppliers instead of relying on the price caps.

According to research, almost 50% of households in the UK are unaware of the benefits that come with switching energy suppliers. In addition to this, most households in the UK have no idea about their tariffs as well, which makes it a necessity to educate and create awareness about utility prices.

Mentioned below are a few reasons why you should consider comparing energy prices and switching energy suppliers:

You Can Save A Lot of Money

Did you know that you can save up to £500 a year just by switching energy suppliers? Most individuals haven’t considered switching energy suppliers possibly as many consider it to be time consuming. Research states that almost a fifth of the population in the UK has been using the same energy supplier for the past ten years.

It usually depends on the mode you use to pay your utility bills, the kind of tariffs you’re on, and whether you use both gas and electricity. Your location also comes into play when you consider switching energy suppliers.

Get a Better Customer Experience

According to MoneyPug, households in the UK tend to stick to a certain energy supplier for longer periods because they believe that they wouldn’t get the same level of service from other providers.

Households in the UK are often unaware that they can switch their energy companies without any inconvenience and additional fees. Most energy providers charge an arm and a leg when offering dual fuel tariffs, which we’ve found one-third of the population in the UK are unaware of. On the other hand if you decide to switch energy providers you can often find cheap fixed rates on duel fuel tariffs that help you save at least £329 a year.

You Can Switch Online

If you think that switching energy suppliers is difficult, with modern technology the entire process is so much easier. You can switch energy suppliers over the phone or via online sites including energy prices comparison websites.

To switch suppliers online, you need to confirm whether your preferred company is registered and approved by Ofgem or not. Check and confirm the company’s Ofgem Confidence Code and look for further information on energy comparison websites such as MoneyPug regarding the company’s standards.

Switching to a new energy supplier takes less than three weeks and as mentioned earlier is easy than most people presume. To speed up the process you will need to know information regarding your tariff and the amount of energy you use.

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Poppy
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Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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