The Ultimate Guide to Switching Energy Suppliers
By: John Garcia | Date Posted: July 1, 2022
Table of Contents
Switching energy suppliers is easier than you think. Itâs as simple as going online and searching for a couple of options in your local area.
Once you have the best picks, head to a comparison website where you can sift through the options and find the best deal suited to your business.
Start saving on your gas and electric bills today so you have more money tomorrow.
Learn more about switching energy suppliers below.
Choose An Energy Supplier
The first thing you need to do when switching energy suppliers is to shop around for the best deal.
The easiest way to do this is by comparing quotes, which most suppliers offer online. This will give you an idea of how much each supplier charges per kWh or unit of gas or electricity.
You can also get a quote from your current provider by asking them what they charge per unit.
When shopping around, look at the price per kWh rather than just the overall monthly bill price because itâs important that you get value for money on every kWh of electricity used in your home or business.
Just paying a large amount upfront with no guarantee that it will be cheaper over time is quite a risky approach so always ask for the per-unit cost when comparing suppliers.
How Long Does It Take To Switch Energy Suppliers?
The time it takes to switch depends on whether you are switching to a new supplier or to a different tariff.
Switching can be done in minutes, and your supply should begin the next day. However, if the new supplier has an agreement with your existing one, this may not be possible and could take longer.
To find out exactly how it works, you should contact both companies for more information about switching suppliers.
For any changes to take effect, the new supplier needs access to all of your meter reading data so that they can monitor exactly how much electricity is being used.
This process usually takes anywhere between 7 and 28 days, depending on how often readings are taken at your business property.
Switching To A Fixed-Rate Plan
Fixed-rate plans are a good choice if youâre looking for predictability and consistency.
If you have low usage, the fixed rate will be less expensive than the variable rate, and if you have high usage, the fixed rate will be more expensive than the variable rate.
However, if your usage significantly changes from month to month or season to season, then switching to another plan type that better suits your usage needs might make sense.
If youâre unsure about whether or not switching energy suppliers is right for you, find out your current rates and compare them to other businesses in your area.
Switching Business Gas Or Electricity Supplier
You can switch at any time, and your supplier will usually give you an ECA (Exemption Certificate for Change of Supplier) to fill in.
You can then send it back to them with a copy of your meter readings, and theyâll take care of the rest.
Is Switching Business Energy Suppliers Easy?
The short answer is yes! If youâve ever signed up for a new service online, then the process of switching your energy supplier will be fairly simple and familiar.
The difference lies in the requirement to provide your details over the phone or in person at your local home office or business, rather than simply entering them into an online form.
You can sign up with a new supplier in just five minutes, and there are no costs involved.
The only other step required is gathering some information about your current provider, which will help the new supplier find out what plan would be the best to suit your needs.
Canceling Contracts Before They End
You can cancel your contract at any time. The best way to do it is by going online and following the instructions on your energy supplierâs website.
Some providers may charge a fee for switching away from them or even refuse altogether if they see too much movement in their customer base.
If this happens and you need help professional help, contacting a new energy supplier to assist is the best way forward.
Conclusion
We hope this post has reassured you that the process of switching energy suppliers is relatively simple and could save you money in the long run.
While we canât guarantee that every supplier will offer a cheaper deal, itâs worth taking the time to find out.
If you do decide to switch, make sure to let your current supplier know as soon as possible so you donât end up with two energy bills come month-end.
FAQâs
Is it easy to change power companies?
You can begin the switching process once youâve decided on the best company and plan. Your new electricity company will handle the transfer. Usually, it is free to switch electricity companies. It takes an average of three to four days for the switchover to take place.
Is it wise to switch energy suppliers?
A penalty or exit fee for leaving your current contract should discourage you from switching energy providers if it exceeds any potential savings. It is advisable to change your energy provider only after youâve found better deals from other providers.
Is it cheaper to get gas and electricity from different suppliers?
According to a recent study, getting gas and electricity from separate suppliers can be cheaper than getting them from the same supplier. Even though many suppliers offer a dual fuel discount â this means you get a discount if you get both gas and electricity from the same provider.
What happens when you change energy companies?
Either you will receive two bills, one for the electricity you use and the other for the delivery, or you may receive a single bill that includes both charges. You will continue to buy your electricity from the same company if you do not switch to a competitive supplier
Thank you for reading!
