Why you should switch electricity providers

If you have been with the same energy provider for years, or haven't done a comparison recently, now could be the time to switch electricity suppliers.

Here are a number of reasons why you should consider making the switch.

A better deal

The different energy suppliers around the country have a variety of unique deals, and by shopping around you might be able to find a plan that suits your individual household better than your current tariff.

It might pay to check the fine print though, and remember that even small savings add up over the year.

Even if it doesn't sound like much, see if you can calculate your savings over the course of a year - you might be surprised by how much it works out to be.

This money could be saved for something special, such as a holiday or an extra appliance or tucked away for a rainy day - it's entirely your call.

Create competition

Looking around at your options and moving your feet might demonstrate to your supplier that you are interested in changing over to another company.

This in turn might encourage them to reconsider their pricing plans. If more people do this, then electricity prices could decrease over time, which is only a good thing.

Tips for switching electricity suppliers

Use old bills

It might seem like a better deal if you are comparing your electricity savings in summer, but make sure you also calculate what the savings will be in the cooler winter months to ensure you are getting a good deal.

Some households have higher bills in the cooler months while others use more power in the summer, so make sure you account for all eventualities.

Check your plan

In order to know if you are comparing apples with apples is to make sure you are aware of what plan you are currently being charged under.

You could be on a single flat rate at all times or you might be charged different amounts depending on what time of day you use your electricity.

Make sure you use the appropriate plan to compare so you don't get confused. However, it might be more economical to switch over to a new type of plan.

If this is the case, it might be worth talking to the experts or doing an online switchover so all elements can be considered.

Posted by Tim Wolfenden