Energy switching is back. But apart from looking for the biggest saving, what else should you consider when choosing the best energy provider?
In recent years, we’ve seen energy bills soar, more than 20 energy firms go bust and deals on switching all but disappear. But the good news is, switching energy supplier to save money is now possible again.
But how do you choose the best energy provider when you switch? Here’s what you need to think about.
The main reason why most people switch energy provider is to save money on energy bills. So your first step will be to compare prices to find which energy provider offers the cheapest deals. We have a handy tool that let’s you compare energy deals instantly – see how much you can save by switching your energy provider.
You’ll need to decide whether to take out a fixed or variable rate deal. If you choose to take out a fixed rate deal now, you may not be able to leave your deal if the cost of energy falls unless you pay an exit fee. So check the energy provider’s terms. Likewise, if you choose to take out a variable rate deal, while the cost of energy may reduce in the future it could also go up.
The best energy provider for you may depend on your circumstances, such as:
Most energy companies say they have great customer service. The evidence says otherwise. In fact, the energy industry is famous for the poor quality of its customer service. There are exceptions to this. But how do you find them when you’re choosing your energy provider?
Citizens Advice produces reports on energy supplier customer service each quarter. However, Trustpilot is perhaps the most well-used online review site for energy suppliers. It allows energy customers to post their own, honest reviews about their experience with their energy company.
While Ofgem’s Customer Satisfaction Survey from August 2024, which looks at satisfaction levels at 9 major energy providers, found Octopus Energy had the highest rating for both overall satisfaction at 87% and satisfaction with customer service at 78%. The lowest scoring energy provider in both categories was OVO Energy at 63% for overall satisfaction and 55% for satisfaction with customer service.
There are several energy providers that offer part or all renewable electricity at no extra cost. So you can now do your bit for the environment without paying extra. You may want to choose a green or renewable energy provider or tariff. However, one complication of this is that there is no set requirement of what ‘green’ is. So make sure you check with the energy provider before choosing which one to sign up with.
Some energy providers sell smart home products and may offer them for free or at a discounted price if you sign up for various tariffs.
Some energy providers let you bundle in other services like broadband with your energy deal. Utility Warehouse is one of the energy providers that does this. So you may want to consider this when choosing an energy provider. But be sure to do your research on broadband too first to make sure you’re getting hte best overall deal. See our guide on what to consider when choosing a new package & the best providers
Smart tariffs require you to have a smart meter fitted and often give you cheaper electricity at certain times of the day.
The Energy Switch Guarantee is a voluntaryu set of promises that energy providers sign up to in an effort to provide a “reliable, hassle-free switch” to customers. One of these commitments is that it will take 5 days or less to switch, this is down from 21 days.
You’ll have a 14 day ‘cooling-off’ period during which you can cancel the switch to a new energy supplier without paying a fee. Your cooling-off period begins the day after you agree a contract with the new energy provider.
Once you’ve chosen which energy provider to switch to, it’s an easy process. After finding the deal you want via our handy tool, click through to the energy provider and follow the steps on the page. You’ll be asked to give details such as your Direct Debit details and meter readings.
Remember to check the balance on your existing energy account; if it’s in credit, this money should be refunded to you automatically when you switch. But keep an eye on it and follow up with your old supplier if you don’t receive it.
Then just wait for your switch to happen. If you’ve chosen to fast-track your switch it should complete within 5 working days. You have the right to cancel within a 14 day cooling-off period. If you haven’t opted to fast-track your supplier may let you choose the switch date up to 28 days in advance.
When you’re moving house, use our handy tool to instantly compare energy suppliers to check what’s available for you. Find out what else you’ll need to do in our Moving house checklist guide.
There are energy grants to help pay bills such as cold weather payments if you’re eligible. You may also be able to get help to make your home more energy efficient. Find more on these in our guide Energy grants and how to get them.
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