Are you looking for a cheaper deal on your home or business energy? Or are you unhappy with the quality of service you receive from your current energy supplier? If so, you should consider switching energy suppliers to find a better deal for your needs.
So, how do you switch energy suppliers and when is the best time to do so? In this informative guide, we’ll be answering all your questions about switching energy suppliers and providing you with all the advice you need to make the best choice for your household or business energy.
When is the Best Time to Switch Energy Suppliers?
The best time to switch business or home energy suppliers is when your energy contract is coming to an end. Most energy providers offer cheaper deals during the spring/summer period, whilst tariff prices tend to rise during winter. So, generally, the best time of year to switch energy suppliers is just before autumn. We recommend locking in the cheaper rates on offer with a fixed-price tariff.
If you have a domestic energy contract, your supplier is legally obligated to inform you that your tariff is up for renewal at least 49 days prior to its end date. This reminder letter is not sent out to business energy customers, the onus is completely on the business owner to remember when the contract is ending and look for a cheaper deal.
Once your contract’s renewal window has opened, you are free to compare energy prices on the market and switch energy supplier without facing any early exit charges.
You should always aim to switch to a new supplier before your contract’s end date, as failing to do so could result in you being rolled over to a more expensive default or deemed rate energy tariff by your current energy provider.
It is recommended that you compare energy prices every six months to find out what new deals are on offer.
How Do I Find Out My Energy Tariff End Date?
It is important that you take note of your energy contract’s end date, as this will help to ensure that you are not switched over to expensive out-of-contract rates.
If you’re unsure of when your home or business energy tariff is set to end, you should be able to find this information on a recent bill. If you still struggle to find this information, you can simply call your supplier and ask when your contract term ends.
How do I switch energy suppliers?
Switching energy suppliers is simple, especially with a professional comparison service like Power Compare.
The supplier switching process typically goes as follows:
- Use our online comparison tool – Simply provide your home or business’ postcode and a few details about your energy requirements and in just a few seconds, we’ll get back to you with a quote for the best energy deals available on the market.
- Choose a suitable energy tariff – Select the best tariff for your needs. Our energy experts are on hand to help you with your decision.
- We’ll handle the rest – We’ll manage your energy supplier switch and ensure that everything goes ahead smoothly. We’ll keep you updated on the status of your switch every step of the way.
At Power Compare, we provide homes and businesses like yours with access to some of the cheapest deals for gas and electricity available. Find out how much you could save using our free comparison service.
What are the benefits of switching energy suppliers?
There are plenty of benefits of switching energy suppliers. Such as:
- Cheaper rates for gas and electricity
- The process is quick and simple
- Better service with a new supplier
- Avoid paying excessively for your energy
- More savings on offer
- Access a better tariff tailored specifically to your needs
Can I switch energy suppliers without a penalty?
You can switch energy suppliers without facing a penalty charge if you organise your supplier within 49 days of the contract end date, as outlined by Ofgem. If you switch suppliers any earlier than this, you may get charged an early exit fee.
You can also avoid exit charges by signing up to an energy tariff that has no exit fee.
Get in touch with us today to find out about energy tariffs with no exit fees.
Can I switch energy supplier if I owe money?
You are usually permitted to switch energy suppliers if you have owed them money for less than 28 days. Any debts existing longer than this may result in your current energy supplier placing a block on your energy switch.
You should always ensure that you have paid any outstanding balances to your current supplier to make sure that your energy provider switch can go ahead smoothly. If you are unable to pay off the debt in full before switching suppliers, you may be able to organise a repayment plan with your current energy supplier.
You will be required to send your final meter readings to your old supplier during your switching process. After this, you are likely to receive a final bill for the gas and electricity you used during that period.
Get the best energy deals with Power Compare
If you’re considering switching energy suppliers, Power Compare can provide you with all the help and advice you need to make the best choice for your home or business energy.
We’re a team of energy professionals and we can offer you access to the cheapest gas and electricity deals on the market – for both domestic and commercial properties.
Try our free online comparison tool today to kickstart your energy supplier switch.