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:
Here are instances of the best times to switch your energy supplier:
1. When your contract expires
When the contract you are presently on expires, then that is a good time to look around, compare energy prices from suppliers and switch to the best deal.
If your contracts ends you are free to switch to another supplier, without having to pay a fine for leaving your contract early.
If you don’t look around and stay with your current supplier when your contracts expires, then they will most likely put you on their standards contract. Standards contracts are not very good value.
2. You are on a standard contract
When you are on a standard contract with your energy supplier, you are not getting the best deal. Standard contract do not represent best value for money. There are many reasons why you could be on a standard contract.
When you contract expires and you do not go onto another specific contract, then your energy supplier might just move you to their standard contract.
When your contract expires, you might not necessarily have to move suppliers to get a better deal. Talk to your present supplier and enquire about their deals and tariffs. They might have something good. But, if not then look around and see if there are any better deals and tariffs.
3. You have moved into a new Home/Property
When you move into a new home/property, you don’t have to keep the supplier that is presently there. Even, if the previous occupants have to come to the end of their contract. They will have to sort that out, as it’s in their name. You can look for a new supplier or stay with the same supplier, depending where you get the best value.
4. Energy prices have risen
If the energy prices have risen because of economical factors, then that is a time to compare energy prices and switch supplier. You ability to do this will depend on if you are still in a contract and how long it has to go before it ends. If you leave your contract early, then you might have to pay a fine. Talk to your energy supplier about this.
5. There are good deals being given by energy companies
Energy companies often offer special deals to market themselves. If that is the case and you not bound by an existing contract, then that is a good time to switch energy supplier.
6. Energy companies are offering a deals to new customers
Sometimes, energy companies offer special deals for new customers. They are offering this to gain new customers. Energy companies get a reduced profit from this, but hope make more profits from new customers in the future.
7. you are on a Pre-paid meter
If you are on a pre-paid meter then you are not getting the best deal or a good deal. Get off the pre-paid meter to get better value tariffs.