When was the last time you have reviewed and switched your gas and electricity supplier?
According to Which? 1 in 3 people have not changed their provider for the past 5 years, consequently overpaying for their energy.
I know, changing supplier isn’t the most exciting thing to do, but it can save you quiet a bit of cash! In my case the money I saved, pays for 2/3 of my car insurance. Thankfully switching energy supplier is quick and easy.
Anyway, here is how I have saved £155 of my energy bill by switching.
How I switched energy provider
I have just recently switched from my supplier from Scottish Power to Bulb.
- I’ve checked what tariffs I was on for each gas and electricity. If you only use electricity, then you will only need to find your tariff for electric. The Tariff information can be retrieved from your last energy bill and through your online account with your current supplier. I found these ways the quickest, as it takes too long over the phone.
- Then I checked my previous meter readings to see how much energy I have used in a year to give me a more accurate quotation from potential future energy providers.
- I then compared energy suppliers. Though I like using this comparison site, I would not switch to the very cheapest available. This is because I base my choice on several factors including:
Customer Service: Approachability and reliability is very important to me.
Price: Of course we want the best Price possible.
Exit Fees: Shouldn’t have any exit fees to tie me down. So that I can easily switch when ever I want, without having to think of exit fees.
Warm Home Discount: Need to be part of this government scheme. Some providers such as Octopus Energy provide great service and price but don’t offer the £140 towards your winter bills if you are on a low income.
And a great referral Scheme.
- I found Bulb ticked all my boxes. And the fact that they supply 100% renewable energy is a bonus. On top of that, if your current tariff has exit fees, Bulb will pay for your exit fees. Therefore it is free to switch even if your supplier tries to tie you down. It took me less than 5 minutes to switch.
As you can see including the cashback MSE offers I will save a total of £130, BUT with the referral code I saved £155. Without the referral code or cashback, I would save £105 over a year.
To save more money on your electric or gas bill, check out whether you are entitled to £140 Warm Home Discount.
Save some money on your energy bills with these money saving tips and tricks: 30 Top tips to keep warm this winter & save money