Switching Utility Suppliers to Save Money on Utility Bills

Your utility bills are among the necessities that you need to deal with primarily. These include your gas and electricity and water bill. We suggest that you regularly review your contract and see if you got the best deals so far. 

Switching to an affordable utility supplier may help you save money even more. This is especially an option when you’re trying to budget and live within your means. So, regardless of whether your income is reduced or not, you should consider ways on how you can free up part of your budget

To find a good deal, you can use comparison websites that can guide you which providers to switch to. We would suggest, you consider one that holds the Ofgem confidence code. The website having this logo visible have the whole of market comparisons. This could guarantee that the offers you’re seeing are impartial.

Is switching utility supplier right for me?

You can possibly save money every year by finding the best energy deals. However, you must consider certain factors before switching to another supplier:

Fixed-term contract

Almost all utility suppliers impose an early termination or exit fee if you leave a fixed-term agreement ahead. Make sure you check how much you have to pay for an exit fee and compare the amount that it will costs when switching to another supplier.

Moreover, an Ofgem confidence code authorised price comparison site can advise you if it’s better off ditching your current supplier and paying the exit charge. You can find details on accredited cost on the Ofgem website.

Renting a property

There are tenancy contracts prohibits or restricts you from switching utility supplier. However, this is an unlawful agreement; hence, your landlord cannot dictate you which supplier to choose.

Besides, your landlord cannot diminish your deposit once you switch suppliers, in exempt to the administrative charges after your switch to a new supplier. This is just a small amount, so there’s nothing to worry about this cost. It can also be arranged under the tenancy contract.  

On the contrary, your deposit could be altered if you’ve swapped from a normal meter to a pre-payment meter without the consent of your landlord.

Having a prepaid meter

You can still switch energy suppliers and redirect debts of up to £500 if you have a pre-payment meter. You’ll bear on utilizing the prepayment meter with the new supplier at a minimum until you’re able to repay your arrears.

Can I get a better offer from my current supplier?

If you remain with your current utility supplier, there are several means you could save money. Most suppliers allow a discount for repaying through Direct Debit. You may contact your supplier to consult if this option is possible.

Can I change utility supplier even with arrears?

Though you have utility arrears, you can still switch, except if:

  • you have outstanding arrears amount to over £500 on a pre-payment meter
  • you have outstanding arrears on a normal meter for over 28 days

There are few exclusions to this guideline, for instance, circumstances where your arrears aren’t your fault but the lapses of your supplier. 

Other measures to save money on gas and electricity costs

Government help with winter gas and electricity bills

You may be qualified to get Government assistance with your winter gas and electricity bills if you’re receiving regular benefits or when your income is low. In fact, some schemes offer up to £300 towards your winter heating from September to March.

Switching Utility in Northern Ireland

Energy comparison sites across the UK won’t be accessible in Northern Ireland. You can check the Consumer Council website. To compare electricity and gas should you wish to compare tariffs on gas and electricity.

Available Help in Managing My Budget

If you’re on the verge f giving up on your monthly expenses and obligations, call us at  0800 193 1024. You may find it hard dealing with your debts and trying to manage your available money, especially when you can’t control your spending. We have an online debt advice tool, which you can use for free. This can help you weigh your choices and understand how you can deal and gain control over your finances.

Here are the options that we can offer:

The Different Debt Management Solutions