Switching your gas and electricity supplier might be one of the best ways to save money on your energy bills, but it can be a real headache finding the best company for price and service.
Not only that, the cheapest company today could change it's tariffs and be one of the least competitive within weeks of you switching.
So, how do you beat the odds and find the best company for you?
The first step is to be clear about what you're looking for. Here there are three key goals in our search...
- Cheap prices
- Good service
- Consistently cheap prices and good service
Cheap Gas and Electricity Energy Prices
Gas and electricity costs have risen steadily over the last three years with some suppliers taking longer than others to give in to wholesale market pressure and raise tariffs. Whilst prices were rising there was always the risk that the cheapest supplier today could be one of the first to raise their prices tomorrow.
It's even a gamble when prices are falling. Wholesale market prices began to fall sharply at the end of 2008 with retail tariffs following in early 2009, but there was still a risk that following a switch to the cheapest supplier, your old company could apply greater cuts leaving you worse off.
So timing is an important factor in getting a good deal that's likely to stay a good deal. In general, it's not a good time to switch when the largest suppliers like British Gas and Npower have just raised or reduced prices as their competitors tend to follow suit shortly after. The best bet is to wait until the market has settled and then compare suppliers from a more level playing field. You can find a record of recent gas and electricity price movements at the UK Power website.
Good Service
Customer service standards can vary between suppliers but this is not currently factored into most comparison services, so you'll have to do your own research here.
Thankfully, customer satisfaction scores are avilable for most suppliers on the Uswitch website and statistics for the companies generating the most customer complaints on the Consumer Focus website.
Consistently Cheap Prices and Good Service
The only way to ensure you switch to a supplier with consistantly good prices and good service is to keep an eye on market movements, prices and service statistics before switching.
However, at the time of writing, one supplier which has consistently done better than most for both price and service is Scottish and Southern Energy. Remember though, the best price deal for you can depend upon other factors so it's essential to shop around.
5 Steps to a Good Energy Deal
- Wait for market competition to settle after significant price changes.
- Use a price comparison service to compare your energy usage with the various suppliers and tariffs. Try Energy Helpline, Moneysupermarket and Uswitch. Be sure to compare prices for dual fuel rates and getting your gas and electricity from different suppliers.
- Check out customer satisfaction and complaint stats on the Uswitch and Consumer Focus websites.
- If you don't already pay by direct debit you could save up to 10% by making fixed estimate monthly payments.
- If you're comfortable managing your account online, consider switching to your chosen supplier's internet tariff if available. It could save you as much as a further 10%.
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