Energy is energy, right? So why switch?
When it comes to switching energy supplier, it is important to remember that you won’t be getting better or worse energy. What you could be getting though, is a better deal. In 2017, the big six energy suppliers announced that they were going to raise their energy prices. As a result of this, energy switching became more popular among people. Energy UK stated that over three million people have already switched supplier since the beginning of 2018.1
How does switching energy supplier help me?
The main reason for switching your energy supplier is saving money. In a study conducted by Ofgem, they found that around 57% of people were still on standard variable tariffs (SVT’s).2 This meant that their ‘fixed tariff’ ended and the supplier decided to put them on their ‘standard tariff’. In their recent report, Ofgem stated that these standard variable tariffs are around £300 more expensive each year for an average household.
But, why does switching save me money?
When you first sign up to an energy supplier, in order to get ahead of the ever increasing competition, that energy supplier will entice you in with a very good deal. But this “good deal”, often with heavily discount prices, won’t last forever, and when your contract comes to an end, the supplier is likely to hike up the prices and put you on their standard tariff. This standard tariff will more than likely be more expensive than the first year deal, therefore, by staying with the same supplier you are losing out on getting a cheaper tariff elsewhere.
So, annual switching saves you money by always keeping you off the standard tariffs, meaning you can take advantage of a better deal elsewhere.
What do I need to switch energy supplier?
If you are thinking now, “I really need to switch my energy supplier” but are unsure of how to do it. We are here to help you. There are several bits of information you will need to switch your supplier:
- Your postcode
- The name of your energy supplier.
- Your energy usage (kilowatt hours), which can be found on your recent bills or on the annual statement sent by your supplier. However, if you don’t have this to hand, an estimated total ‘saving’ will be calculated in line with Ofgem’s protocol.
- Finally, your bank details.
Once you decide to switch, it’s best to just check over your latest bill to see when your current tariff ends. Sometimes if you leave before your contract ends you can be subject to penalty fees.
With Migrate you will never be at risk of incurring a penalty for switching before a contract ends when we automatically re-switch you in the future. This is because we don’t switch customers when there is a chance that a penalty may occur.
How do I find the best deal?
Next step it is time for you to find the best deal and there are a variety of ways to do this. There is the arduous task of doing this all yourself, or like most people in the UK, you will probably use a price comparison website. A price comparison website will scan the market and compare lots of different tariffs for you. Then it is up to you to choose the best deal. Once the best deal has been found, it’s time to make the switch.
So if it’s this easy why don’t more people switch?
There is a reason why more than 50% of people are not switching their energy supplier. That is because most of us don’t want to spend our precious time crawling through price comparison sites every year to find the best deal. Switching energy can be a laborious task, especially if you’re not energy savvy, or are daunted by the task of switching. It can be a confusing time for people, and that is why some people would rather just forget about switching. What makes it worse as well is that this is an annual task. If you want the benefit of the savings of switching, you have to switch supplier every year.
Is there an easier way to switch?
There is indeed an easier way to find yourself the best deal. We developed our algorithm to do all the hard work each year for you. So, no more scrolling through comparison sites, or searching for the best deal. We will find it for you for free. Also, using our automatic switching service means that once we have found you the best tariff, we’ll switch you over automatically. All you need to do is sign up, and we’ll do the rest. Switching energy supplier can be that easy. Join Migrate, and be part of the energy switching revolution, saving time and money every year.
No more scrolling through price comparison sites searching for the best deal. We do that for you for free.
All you need to do is sign up, and we’ll do the rest. Switching energy supplier can be that easy. Join Migrate, and be part of the energy switching revolution, saving time and money every year.
1. Energy UK ‘Energy Switching – August 2018’ available at https://www.energy-uk.org.uk/publication/293-research-and-reports/switchingreports.html
2. Ofgem ‘Ofgem publishes supplier standard variable tariff league table’ available at https://www.ofgem.gov.uk/publications-and-updates/ofgem-publishes-supplier-standard-variable-tariff-league-table