The best times to switch energy
Finding the best time to switch energy suppliers can be simple once you understand where to look and what to look for. There are different tips for both households and business energy users - which will be broken down in this guide.
Best Time To Find A Cheap Energy Deal
There’s no exact time of year to switch energy suppliers but there are several circumstances that could present themselves which lead to cheaper gas and electricity tariffs.
First of all, we’ll talk about finding cheaper energy deals for UK households. We need to acknowledge that we’re in times of rising energy costs, therefore, our attitude has changed to ‘saving money’ on energy. At this moment, we cannot find a cheaper fixed-rate energy deal cheaper than our previous tariff. What we can do is save money against the predicted future cost of energy.
For example, new predictions released by Cornwall Insights suggest that the price cap is expected to increase by 70% (£3,359 typical use) in October 2022.
We’re not sure when the energy market will return back to normal. But when things start to look more positive, here are some tips for finding an energy deal that works for you.
Before Your Fixed Contract Period Ends
If you’re on an energy tariff that can expire after a certain length of time, you’ll want to switch away from it before it ends. If you wait until your fixed period ends, you will be put onto your supplier’s default tariff, usually, the most expensive one they have to offer.
The Wholesale Energy Market
Monitoring wholesale energy prices takes effort, but if you see they’re expected to rise, you should look to switch your tariff to one that protects you from price hikes. If you can find an energy tariff that is cheaper than the future price cap projections in October 2022, it is worth considering.
We’re currently experience a period of rining energy prices - so it is important to keep up with the latest news around wholesale energy prices.
Switch In The Summer
As winter approaches, we recommend switching to a fixed energy tariff if you aren’t already on one.
Moving away from a variable tariff in the warmer months could ensure you get a great fixed-term deal before the colder nights creep in, helping you save money throughout the winter months.
If you’re on a variable tariff, it might be a shock to the system when your energy usage increases two-fold due to the change in season, so be sure to be proactive before it’s too late.
When you move into a new home, you’ll automatically be put on the property’s current supplier’s most expensive default tariff. Look for a better deal with the current supplier or look to switch away altogether for a better-priced deal completely.
If you switch as soon as you move in, you’ll have to wait around 21 days for the change to take effect, so you’ll have to pay at least one bill with the current supplier.
Living Arrangements Have Changed
If your children have finally flown the nest or if you’re recently retired, you might be considering switching energy suppliers. Adjusting to a new way of life might mean how and when you use energy changes, which might lead to you choosing an energy deal that suits these adjustments best, such as an Economy 7 tariff, for example.
How Long Does It Take To Switch Energy Suppliers?
The Energy Switch Guarantee that most suppliers have signed up to, states it should take no more than 21 days for your energy switch to be complete.
How Does Switching Energy Suppliers Work?
Luckily for you, we’re here to do all the hard yards for you.
You simply enter your postcode on our main page to get started, enter some energy-usage details and we’ll compare some of the best value-for-money energy deals on the market right now. After that, it’s up to you whether or not you switch.
If you find the perfect deal and decide to switch, we’ll contact your existing energy supplier and get you changed over without any interruption to your current energy supply.
Want to know more about how to change your energy supplier before you go ahead and do it? Check out our guide to set some facts straight.