Why switching energy supplier should be your New Year’s resolution

Published on January 11, 2021

Get your new year off to a fantastic start and save hundreds of pounds on your gas and electricity bills simply by switching your energy supplier! Not only can it help save you a big chunk of cash, but you may be in for a few other tempting treats too.

Why you need to switch energy supplier

You’ve been with your energy supplier for years and have never had a problem so why would you switch? Well, did you know you’re probably not on the cheapest tariff available and so you could be spending hundreds of pounds more on your gas and electricity than you need to?

For instance, in 2020 the average price of a standard variable tariff was £1,042 for the year while the cheapest was just £844. That’s a difference of almost £2001.

And this is just the average.

Let’s delve a little deeper and compare the price of one of the most expensive tariffs on the market with one of the cheapest. Switch to Ecotricity’s Green Electricity and Green Gas tariff and you’ll pay on average £1,380 a year2. Swap to Utility Point’s UP 12M Fixed Wk 52 v2 tariff with renewable energy and you’ll pay just £870.90 a year.

That’s a huge £509.10 difference!

Imagine if you had been with that same energy supplier for 10 years, you could have saved over £5,000 by now.

If you’re with one of the ‘Big 6’ energy suppliers: British Gas, EDF Energy, E.ON, N Power, Scottish Power and SSE, you could save well over £150 on your gas and electricity bills by switching. In fact, you could save on average £1733 when you switch to Utility Point.

woman with piggy bak

Important things you’ll need to make a switch

Switching energy supplier is easy but you’ll need to know a few things to help make the entire process go smoothly, including:

What type of meter you have

You may be charged differently for the energy you use depending on what type of meter you have in your home. You can easily find out what type of meter you have by reading our energy meter FAQs.

Your gas and electricity usage

When looking for new energy tariff quotations, you’ll be asked how much energy you use so the supplier can provide a quote that’s as accurate as possible. You can find out your usage on the energy statements sent by your provider or you can use an average based on a few questions about your home.

Please bear in mind, if you choose to quote based on average usage, your monthly energy bills may change from what’s originally quoted, to be in line with your actual usage. Using your actual usage is recommended so that you don’t receive any surprises further into your energy contract.

The best deals and tariffs

To find the best deals on your energy, you can use a comparison website or go directly to a supplier. Remember, not all suppliers and deals will be on every comparison site so if you have a specific company in mind or think you could get a better deal elsewhere, it benefits to go direct.

Your MPRN and MPAN numbers

Your MPRN (Meter Point Reference Number) and MPAN (Meter Point Administration Number) identify your meter, which is important as your new energy company will use them to make sure they switch your supply and not someone else’s. You can find these numbers on your energy bill or statement.

How to switch energy supplier

It’s easy to switch energy supplier and start saving – all you have to do is follow these 4 simple steps:

1) Research energy companies and the tariffs they offer

When you’re looking for a new energy company, you want to know you’re getting a great deal so it pays to shop around. Of course, price is going to be a big factor but don’t forget about other benefits on offer too.

2) Once you’ve decided on your perfect supplier and tariff, you can usually switch to them by filling out a few details online

Once you’ve applied to switch to your new energy company, you’ll be given a few simple instructions on what to do next. When you switch to Utility Point, you won’t have to do anything else as we do all the hard work for you.

3) Take a meter reading on the day you transfer to your new supplier

You’ll need to read your meters the day your energy is transferred so you don’t end up paying for your energy twice. You’ll need to send the readings to your old and new supplier.

4) Settle your account with your old supplier

Once your old supplier has your final meter readings, they’ll send you an energy statement so you can pay the outstanding balance or request a refund if you’re in credit.

woman happy to switch energy supplier

Choosing the right tariff

Before you decide on your new energy tariff, it’s worth thinking about the following to make sure you switch to the right one:

What type of tariff do you want?

Do you want a fixed tariff that has a fixed cost so you can plan and budget more effectively (and avoid any surprising price rises) or a tracker tariff that may get you a cheaper rate? It’s worth noting that with a tracker tariff the cost of your energy may go up as well as down.

Will you need to pay exit fees?

It’s common for energy companies to charge you a small fee for leaving your contract early. However, you can switch energy suppliers without incurring a fee if you switch within 49 days of the end of your current tariff.

Do you need a specific tariff for your meter?

Not everyone has the same type of meter so if you have a prepayment meter or ‘Economy 7’ meter for example, you may need a specific tariff in order to get the very best deal.

Why switch to Utility Point?

Don’t waste time comparing confusing energy tariffs and filling in your details for what feels like the thousandth time. Head on over to our easy to use, online quote tool to find out how much your energy could cost with Utility Point. We’ve recently been named one of the cheapest suppliers by Which?.

In fact, we’re so competitively priced, we’re confident you won’t want to go anywhere else!

Power UP your everyday and easily switch to rewarding energy provider, by just providing us with just a few details. We’ll do all the rest for you!

To find out how much you could save on your gas and electricity bills with one of the nation’s cheapest utility companies, get a quote today.



1
https://www.ofgem.gov.uk/publications-and-updates/infographic-bills-prices-and-profits

2 Data compares Utility Point’s 12M Fixed Wk52 V2 tariff with Ecotricity’s Green Electricity and Green Gas tariff based on typical average consumption according to Ofgem (2,900 Kwh electricity and 12,000 kWh gas) in the Southern region (as of 05/12/2021).

3 Data from Citizens Advice energy comparison tool. Tariffs based on typical average consumption according to Ofgem (2,900 kWh electricity and 12,000 kWh gas) in the Southern region (as of 05/01/2021).