Moving House? Switch Energy Supplier

Moving house is a great time to start fresh with a new energy tariff, and put some extra money in your pocket to help you kit out your new home. In fact, you could save hundreds of pounds by switching—recent Ofgem reports indicate that consumers who switch from a default tariff can save an average of £263, but this figure can vary depending on market conditions (consult Ofgem's latest publications for current data).

Drop in Energy Quality?

Your new energy will be the same as your old energy. One concern people have when it comes to energy switching is wondering if they will face some drop in the quality of their energy. Will the lights dim and the washer stop mid cycle? The answer is no!

All energy comes through the National Grid. By changing energy providers you are only changing the service company you deal with for bills and any customer service issues that may arise. You'll get the same gas & electric into your house (even if you switch to a "green energy" company).

Think of your gas & electric like a Samsung TV. If you want a new TV for your new home and decide on a Samsung LRD Full HD 32", you’d shop around for the best bargain. It doesn't matter if you buy the Samsung TV from John Lewis, Curry's, Argos or Amazon—you'll get the same TV in the end. But if Curry's is offering the TV for £20 off, you'll probably buy from Curry's. Energy is the same principle. Regardless of your energy supplier, you're getting the same energy into your house; you're just paying a different price and dealing with a different company for billing and customer service issues.

Energy Prices Rising

Energy prices are on the rise in the U.K. Knowing how to price check the energy market and switch is more important than ever.

The more energy we import from abroad, the more susceptible our home energy costs will be to currency fluctuations. The UK imports a significant portion of its energy, with more than half coming from abroad, reflecting changes in domestic production levels and global market dynamics (for the latest figures, see the Digest of United Kingdom Energy Statistics).

Can you Switch Energy Suppliers if you Rent?

As a renter, you can switch energy suppliers if you directly pay the energy bills to the company. However, it's essential to consult the latest Ofgem guidance to understand any obligations related to switching suppliers. And read your tenancy agreement carefully because you may be required to let the landlord know you’re switching and you may have to return to the original supplier when you move out (your landlord may have a preferred supplier listed in the tenancy agreement).

The same applies to your method of payment. You are permitted to switch, from say a prepayment meter to a credit meter, but you may need to return the meter back to the original at the end of your tenancy.

You won't be able to switch if your energy is included in your rent/paid for by your landlord.

Whether you are renting or buying, there are a few simple steps to remember when moving house. These steps essentially draw the line between your energy usage and that of the previous or next occupier, depending on whether you're moving in or out, respectively. Save yourself a potential headache.

With wholesale energy prices on the rise, it’s even more important to be quick to pull the plug on an expensive tariff. Switching may take a few weeks, but the steps are relatively simple if you know what to do. To learn how to switch and what to look out for, read the Energy Switching Guide from ValuePenguin UK. Perhaps you’ll save enough on your energy bill to pay for a new TV!

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