Switching energy suppliers is one of the easiest ways to save money.
By taking the time to check the energy market and compare providers and tariffs, you can take advantage of the latest special deals – suppliers usually offer their best deals to new customers – and ensure that you pay the lowest price possible for your gas and electricity.
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Use our energy price comparison calculator to find the cheapest provider and tariff for you.
How much you can save depends on a number of factors, including which supplier and tariff you switch to, and the way you pay for your energy.
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Paying by direct debit is generally recommended as it gives you control over the amount and date you pay and guarantees payment to your supplier, removing the possibility of late payments and penalty fees. Discounts are also usually offered to customers who pay by direct debit.
If you currently pay for your energy with a prepayment meter you should definitely consider switching to a standard meter system, if possible, as you will be able to take advantage of online energy discounts and tariffs with cheaper direct debt payments.
Another way to reduce costs is to go for a dual fuel tariff (both gas and electricity) from one supplier and use an online-only account, if you don’t already.
Online account management allows you to enter your own meter readings over the internet and therefore removes the risk of being over-charged through the estimated billing process. You’ll also be helping the environment as you won’t receive any paper bills.
Green energy tariffs are now offered by almost all energy suppliers in the UK.
These eco-friendly tariffs promise to match your energy consumption with renewable energy such as solar power, wind turbines and wave energy.
Although they can cost a little extra, some suppliers offer financial incentives for making the switch to green energy so it’s definitely worth looking into.
Energy efficiency grants
Another benefit of switching energy suppliers is that you may become eligible for energy efficiency grants and discounts on various things like new boilers, energy saving light bulbs and cavity wall insulation, which according to the Energy Saving Trust can cut heating bills by up to £90 a year.
Before you decide on a new energy provider, check to see if they offer any grants or discounts on home efficiency.