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A Helpful Guide To Changing Energy Suppliers

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It is a wise idea to consider changing your electricity supplier, especially as energy prices continue to increase, to get an excellent deal on electricity and gas. It is quite simple to switch energy providers, and you will never be deprived of your supply in the process.

You can either change electricity or gas-only or even both of them. As a consumer, you may take advantage of the competitive energy markets today, allowing you to choose the supplier that meets your needs deliberately.

Here’s a quick guide to switching energy providers. 

What You Should Know

Before anything else, you need to be knowledgeable enough if you want to choose another energy provider. You can begin by comparing different suppliers. In this way, you will know which provider is worth your time and money.

Also, it is wise to compare tariffs to see if you can get a much better deal from your existing supplier. The New York electricity Rates and Prices comparison website can allow you to compare tariffs easily. Additionally, so that you can obtain the most precise quote, you will need to provide as many details about your existing energy use as possible.

For instance, how much you pay for your electricity and gas and who your provider is. With this information, potential energy providers can offer you a better deal. 

When is the Right Time to Switch

It can be a challenge to choose the perfect time to change energy suppliers. Perhaps, switching energy providers may not come into your mind, or you know that there are other options where you can pay less. 

The following may be the right reasons to switch:

  • Moving to a new home. When you move home, it is the best chance to re-examine your energy needs. Different heating systems, a change in the number of rooms, etc. may change your usage. Thus, choosing a different tariff could be your best option.

  • If energy prices continue to rise. Undoubtedly, you hear the predicted price increase in the news. When one supplier declares a tariff rise, then the other providers will typically follow. If you think prices are about to increase, a good option is to take out a fixed price tariff.

  • Once you have repaid a supplier debt. A few energy suppliers will not allow you to change if you are still in long-term debt. Therefore, if you have paid it off, it might be the best opportunity to shop around for a better deal.

How Much Can You Save

According to The Guardian, switching electricity and gas providers takes only a couple of minutes and is the easiest way to save money. In fact, based on their figures, some households can save at least £400 per year.

Isn’t it great? At £400-saving for minimal work, wouldn’t it make you switch right now? The most excellent way to find out how much you could actually save if you switch suppliers is to compare energy prices. 

What Tariffs Should You Choose

Energy providers offer many different tariffs. That said, there is likely one out there that will suit your home. With regard to the tariff type, think about what is essential or critical to you. For instance, what’s your biggest issue, is price less-important than flexibility, or do you have a fixed budget?

Moreover, do not presume that obtaining your energy from one of the mainstream suppliers means getting the best service and prices. As such, it is surely worth looking around to get the best deal.

Can You Change Your Energy Provider if You Rent

Yes, you can. As a renter, you have the privilege to change your energy supplier if you pay the provider directly for the energy you consume. The owner of your apartment or home might have added a preferred energy provider in the agreement.

If it is in your contract, then you can let your landlord know that you want to switch energy suppliers. However, if the owner pays your bills and then charges it to you, then you have no right to change your energy provider.

When is Not the Right Time to Switch

If you have to pay an exit fee or a penalty to resign from your existing contract, then you should not switch suppliers. Keep in mind that the penalty is higher compared to any savings you could potentially make.

Takeaway

Before you can decide to switch energy suppliers, there are a few factors to consider. Also, there are questions you need to ask yourself. Once you have the answers to these questions, you can easily make a switch today. Moreover, be sure to compare energy prices to know if you can save money by changing your energy provider. If you are not sure what to do, consult an expert. 

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