ENERGY: the best time to switch!

If you’re one of the 60% of people on a standard energy tariff, you’re being ripped off! take a look at the table (right) – it shows how much bills have risen or are set to rise by.

the prices are for dualfuel deals for someone with typical use, based on paying by direct debit. compare that to the cheapest one-year fix, where the rate’s guaranteed for a year (that’s not the price you pay – that depends on how much you use). and of course, if your bill is higher or lower, so is your saving.

Switching is easy. it’s the same gas, same electricity, same safety – all that changes is customer service and billing.

Your CHEAPEST deal your winner depends on your location and how much you use. the easiest way is to use a comparison site – enter your details and it finds you your cheapest deal.

it takes five minutes with my tool at cheapenergyclub. com – it lets you see tariffs across the market, and then monitors afterwards in case a new deal launches. Plus, as these sites get paid around £60 (dual fuel) if you switch through them, cheap energy club gives you £30 cashback. alternatively, use any comparison site approved by ofgem.gov.uk.

Q Can I still switch if I’m on a prepayment (key or card) meter?

yes, though the savings tend not to be as large. Far bigger savings are possible by switching to a standard meter, as there’s more competition. if you’re with a big six firm, you won’t be charged for switching meter, but you’ll usually have to pass its credit check. See mse.me/switchprepaid.

Q I’m electricity-only – what should I do?

you can do an electricity-only comparison, and the savings can still be substantial. But if you’re on an economy 7 or 10 tariff, comparing is trickier.

Q

I switched to a fix, but my price went up. Have I been conned?

if you switch to a tariff with a guaranteed cheaper rate, you will save on the energy used. yet if the firm estimated you’d use less energy than you are, the initial direct debit can rise. this may feel like a price hike, but you’re still better off than before as it’s a cheaper rate.

Q

I switched, but my bills haven’t dropped by the predicted saving. why is this?

When you do a comparison, the ‘saving’ is compared to what you would’ve paid if you did nothing. But prices are rising – if you paid £1,000 last year, it would be £1,100ish this year, so a £200 saving cuts what you really pay by £100.

Q

Is paying by direct debit cheaper?

yes. Suppliers charge around 6% less if you pay by monthly direct debit. and always give regular meter readings to get accurate bills.

Q I rent – can I switch?

landlords can’t stop you changing supplier (unless your rent includes the energy bill). But you do need their permission to change the meter – eg, switching from a prepayment to normal meter.

Q I’m moving home. Is it worth switching?

yes, get a ‘portable’ deal that can move with you.