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Is it worth Bothering to Switch Utility Suppliers?

If we own or rent our own home then we will be paying for utilities. These days there are lots of different utility suppliers and it is possible to switch between them. However, it can seem like a lot of hassle to do this and so many of us do not bother. It is worth understanding why it could be worth doing it.

Advantages of switching

There are big differences between utility suppliers. This is not just in price, but in the service that they provide as well. Of course, you will still get the same electricity and/or gas delivered to you in the same way. Therefore, the main service will essentially be exactly the same. However, you will find that the cost will be different between different companies and the customer service will be as well. These can be important.

If you look at a comparison website for utility companies you will find that the costs differ quite a lot between them. However, it is important to make sure that you are comparing the costs carefully. For example, you need to think hard about what you are actually paying. You will find that most providers will have a standard charge each day and then they will charge you for each unit that you use. These prices will vary a lot and if you use a lot of power, then one that has a largest fixed rate and cheaper unit rate could be cheaper compared to one that has a lower standard rate compared with the usage charge. Luckily you will not normally have to work this out. You should be able to get a quote based on your current usage and this will allow you to compare each supplier to work out which one will be the cheapest for you. Of course, if we have a cold winter will spend more or a warm winter we will spend less, but as long as we compare them all like for like it should give us a good idea of what we will be likely to have to pay and which will be the best deal for us.

You will probably find that you will be able to save some money by switching. There is so much competition that there are lots of small suppliers which tend to be cheaper than the larger more well-known ones. Of course, you may feel more confident in using companies that you know, but it is a good idea to be open minded and to read reviews because you might find that if you do go with a company you do not know, that you will save a significant amount of money. You could always contact your customer service department to ask questions and find out what they are like. You may even find that they provide a better service than your current provider.

Ease of switching

It might seem like a hassle, but it is normally very simple. You will never have a break in supply and all you will normally need to do is to read your meter(s) so that you can have a settlement bill from the supplier you are leaving and your new supplier knows when to start charging you. This should be straight forward as most of us are used to reading out meters anyway. You will also need to submit those readings to both suppliers which could mean two phone calls or just sending the details online. That will be all you need to do on top of initially applying to the new provider with some basic information which is usually done online or over the telephone.