Before switching to a new energy retailer, consider the key points below to ensure you’re getting a good deal: competition among energy retailers may lead to enticing offers that may not be as cost-effective as they seem.
Keep these key considerations in mind to avoid being swayed by misleading deals.
9 Top Tips Before Switching Energy Retailers
Know Your Current Energy Rates
Compare The New Rate to Your Current Energy Rate
Compare the new rate to your current rate. If the new is lower, consider further examining the new offer.
Check The Monthly Admin Fees
This is a fixed monthly amount that retailers charge for managing your accounts. Many customers don’t pay attention to this. Some retailers may show lower energy rates but charge more in admin fees to make up for potential lost revenue. You need to pay attention to this!!!
If Considering a Variable Plan, What Are The Applicable Service Fees?
The service fee for variable plans is an extra charge on top of the retailer’s variable rate for energy. This fee can significantly raise the overall energy rate, but it does not apply to fixed plans. To choose the best plan, consider the service fees per energy unit and compare them to the fixed rate.
What Tariff Options Does The New Retailer Offer?
Consider the other tariff options offered by the retailer. Some small retailers only offer variable rates, which can lead to monthly changes in energy rates. If the retailer offers multiple tariff options, you can switch your plan to take advantage of market conditions
Does The Retailer Have A Fully Functioning Customer Service Centre
Make sure your prospective retailer has a functioning customer service center, as small retailers may only have email support that may take more than 24 hours to receive a response. If you prefer to speak with a live agent, clarify this before choosing a retailer. Visit our price comparison page to see which retailer operates live/ web customer centre.