Is Black Friday the best time to switch your energy?

There are some great deals out there but don't just wait until Black Friday to switch.

Is Black Friday the best time to switch your energy?

Both Black Friday, which is due to take place on 29th November, and the days leading up to it will see huge discounts placed on pretty much anything you can think of.

Switching seems like the obvious choice if it’ll allow you to save on your energy, but is Black Friday really the best time to change supplier?

This guide will take you through the answer to this question and reveal some of the other circumstances in which it’s a really good idea to think about switching your energy.

Is Black Friday the best time to switch your energy?

Both yes and no. It’s possible to find a good energy deal on Black Friday, you just need to take your time with it.

Just remember to treat Black Friday like any other time of the year and don’t jump straight into buying the first deal you see.

Instead, use our free comparison service to see what energy deals are on offer and how they rank in terms of price.

You shouldn’t exclusively wait until Black Friday rolls around to switch your energy however.

How often should I switch my energy?

We recommend that you should compare energy prices every six to nine months to check whether or not you’re still on the cheapest deal.

What about exit fees?

Some suppliers will charge you for leaving your fixed-price energy deal (so one which sees you pay the same price per unit of energy during your contract) early. How much this will be really does vary from provider to provider.

It’s important to consider your exit fees when you’re thinking about whether or not to switch your energy. Take a moment to do some calculations, it might actually be worth paying if you’ll save more in the long run!

Alternatively, exit fees don’t apply if you switch within the last 49 days of your contract so you can always wait a while.

Certain providers will also wave your exit fees if you switch to another one of their own deals, be sure to check with them.

Can I get cashback from switching with energyhelpline?

Yes, you can make up to £50 back from us! Simply click here and enter your postcode to start comparing energy deals.

 

When should I switch my energy?

There are some other situations in which you could potentially save quite a bit of money by switching your energy.

If you’ve never switched your energy

Once your energy contract has expired your supplier will automatically place you on what’s known as a standard variable tariff (SVT). Ofgem estimate that around 53% of consumers in the UK currently receive their energy this way^.

While it sounds convenient, SVTs don’t charge a single price per single unit of energy meaning that the amount you pay can vary quite a bit month to month.

Protect yourself against these potential fluctuations in price by switching to a fixed price energy deal.

Just before winter

Your energy bills are likely to increase during the winter months because you tend to use more electricity keeping warm.

Switch to a fixed price deal in the autumn before the cold weather strikes to avoid overpaying for energy during this time of the year.

If you move home

It’s quite likely that the energy supplier to your new property will have automatically placed you on an SVT so really is in your best interest to spend a little bit of time comparing what’s on offer in your new area!

Just before your current deal expires

If you let your current energy deal come to end without taking any action your supplier will simply roll you onto an SVT. While this definitely sounds convenient, SVTs are often the most expensive deal on offer.

Your supplier is obligated by law to notify you when your current contract is about to end. This letter will arrive between 49 and 42 days before its end date, a period where exit fees thankfully don’t apply, leaving you with plenty of time to switch.

Before energy prices are due to increase

Unfortunately, energy suppliers do put their prices up from time to time usually to reflect the higher wholesale cost they’re having to pay for oil.

The announcement will generally come a few months before anything’s due to come into effect so you’ll have a good amount of time to find a better fixed-price deal.

Small print

^Ofgem’s State of the Market Report - October 2019. The proportion of domestic consumers on a default tariff, not including prepayment meter tariffs.

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