There is no specific ‘best’ time to switch energy supplier, as it depends on various circumstances. However, here are 8 instances when it is best to switch energy suppliers:
1. When you have come to the end of your present contract
When your presently contract with an energy supplier has ended, then that’s the best time to switch your supplier. When your contract ends, you are able to switch to another supplier without facing any penalty charges for breaking your contract. You are free to look for deals to see if you can find a better tariff with another supplier.
If you don’t switch and just stay on with your current supplier, as your contract has expired, they might put you onto their standard contract which is not good value.
2. You have moved into a new home
Another ‘best time’ to switch energy supplier is when you have moved into a new home. The energy being supplied in your new home might not be on a good tariff, so you should check this and switch for cheaper energy tariffs. If you don’t do this you might be overpaying for your energy, up to a few hundred pounds a year.
If the previous occupants were on a contract, and it is not of good value, it does not affect you from changing suppliers as that contract was not with you.
3. You are on a standard contract with your energy supplier
If you are on a standard contract with your energy supplier or their equivalent contract, then you are not getting a good deal. There could be many reasons why you are on a standard contract. If you were on a contract previously which had ended, and you did not go onto a new contract, the energy supplier might have put you on their standard contract.
Another instance would be customers who have just been with the supplier for a long time and have not gone onto any specific contracts or deals.
You might not have to switch your energy supplier to get a cheaper tariff, contact them and see what is available. If you don’t get a cheaper tariff, then that’s the best time to find another supplier for a cheap energy tariffs.
4. There are good deals being given by energy companies
Sometimes, energy companies might be offering deals or special prices. If that is the case and you are not bound by any contract with your energy supplier, that is a good time to switch.
5. Energy prices have gone up
If energy prices have gone up across the board because of factors. That is a good time to see if you can find another energy supplier which might work out slightly cheaper for you. Even, if prices rise across the board, there might be still slight differences in the prices of suppliers.
6. Energy companies are offering a special deal for new customers
There are times when energy suppliers will offer special deals to attract new customers. Sometimes, companies might not be making much profit from an offer, but they are thinking about the long term. They are anticipating that many of the new customer who they attract will continue to stay with them.
They can then start making profit by transferring remaining customers on to another tariff. If you find any of these deals, it is a good time to switch energy supplier.
7. If you are on a Pre-paid meter
A pre-paid meter has the worst tariffs and do not provide good value. If you are on a pre-paid meter, get your energy supplier to take you off it. You might not be able to come off a pre-paid meter if you are in debt with your energy supplier. When you have paid back your debt, then you can switch. When you are on a pre-paid meter, this is the best time to switch energy supplier for cheaper energy prices.
8. Before winter starts – when energy companies sometimes give good priced tariffs
Before the winter starts, people are not using much energy for heating, so sometimes, energy companies will give deals to attract new customers. That is a good time to switch energy supplier.
If you want to know how you can reduce your energy bills read out article: How to reduce energy bills.
if you are having difficulties paying for your energy bill read our article: Getting help with energy bills.
Read our article: Switch energy supplier for a better deal.
For free money and debt advice go to: Citizens Advice.