Energy prices are constantly fluctuating, but anyone can guess when or if suppliers pass price changes on to customers. Regularly rotating tariffs can make stuff even more complex, making it almost impossible to know when the best time is to find the best energy conversion deals.
That's where we come into action. To make sure you get the
cheapest gas & electricity supplier UK deal, we recommend that you shop around every six to nine months, or at least a month before your current supply expires, to find deals on cheap electricity.
It is always worth changing the energy under the following circumstances:
1. Haven't changed in over a year: If it's been a year since the last change, chances are your flat-rate contract has expired and you have moved to a more expensive variable rate.
2. Prices go up: When an energy supplier increases its prices, others usually do so soon after. So when you hear about price hikes on the horizon, switch to a fixed price deal to get the lowest prices for 12 months or more.
3. Winter is approaching: We all use more energy in the winter to light and heat our homes, which means our energy bills are higher during the darker, colder months. But you can cut those winter bills by switching to better sources of energy before the temperature drops.
4. Your current offer is about to expire: Most fixed charges set prices for 12 months and often charge you a penalty if you cancel the offer and change it prematurely. However, you can compare energy-saving plans and switch to a new offer without being charged a prepayment penalty, 49 days before your current plan ends.
It should also be noted that there are times when you should avoid changing your electricity supplier. If you're tied to a fixed-price deal with an early exit fee, avoid switching providers unless the savings you can obtain are greater than the exit fees. If the penalty exceeds your potential savings, you must wait until your fixed price offer is valid for 49 days, then it can be changed for free.
You may also have difficulty switching utilities if you owe your current provider money and may need to pay off the debt before you can switch.
And when you change, it's not just about finding the cheapest electricity supplier. If you're unhappy with your current provider's customer service or are having billing issues, consider another provider.