Changing Electricity Supplier

[The Tinker]

My current plan with Scottish Power is coming to an end and surfing compare the market etc it looks like I could save a few pounds by switching to another supplier which can be done online at the click of a button.

Has anyone done this and does it all go smoothly or are there any pitfalls I need to look out for?

[GillD46]

We do it regularly, it's very easy and much quicker than it used to be. Go for it.

[david63]

Done it several times and no problem at all. The only thing that I have had to do is submit a meter reading on a given day.

The possible (minor) issues are that you may owe your "old" supplier some money if your payments are too low and your "new" supplier may not get your payments right (either too high or too low) for a few months.

One thing though before you choose your new supplier - check on several comparison sites as most (all?) comparison sites tend to have a bias in favour of who is paying them the most. And once you think you have found a new supplier check again on their site that you will be getting the savings that you think you will be getting. You will be surprised as to how much some of these savings can vary.

Finally before changing ring your current supplier and see if they will "price match"

[oldbluefox]

We have just changed supplier without any problems at all. It really is quite easy since they do all the work of changing direct debits, swapping accounts and sorting out any payments or repayments.

Before I made the change, however, I did Google the new supplier to check reviews and customer satisfaction ratings. Sadly loyalty means nothing nowadays. I contacted my old supplier to see if they could price match or offer me a better deal. Quite frankly they couldn't care less. It was only when I instigated the change over I started to get the 'Sorry you are leaving us' letters and phone calls trying to entice us back. Too late, mate!!!

It's always worth checking your supplier against other suppliers since there seems to be a roundabout of price reviews. The best buy today is not necessarily the best buy in 12 months time.

[Stephen]

As much as I agree with you all I always think that as soon as I swap suppliers they will go and up their prices as well, so you are constantly chasing your tail to save a few bob.

Better the devil you know.

[Dancing Queen]

We've changed in the last couple of months, the plan we were on has/is being discontinued and they couldn't come anywhere near to matching it so time for a change I thought.

It was very easy to do, I did it online although I did speak to the supplier by phone as I had one or two queries. I'm not sure there will be any huge savings but time will tell.

It's very true what Foxy says ... loyalty means nothing I have also recently changed our car insurance, the previous insurer did ask why but they were not prepared to price match .. their loss we had two cars insured with them and now someone else has that business, I am also in the process of checking out building/contents insurance ( which is with the same insurer ) the renewal is 'silly money' so it looks as if they will be losing that business too.

[Dancing Queen]

As much as I agree with you all I always think that as soon as I swap suppliers they will go and up their prices as well, so you are constantly chasing your tail to save a few bob.

Better the devil you know.

Oh I don't know Stephen .. in the case of our car insurance we saved £300 overall - not to be sneezed at

[royalprincess]

Changed last year - very simple. No problems in changeover. Original suppliers couldnt care less whether we stayed or went elsewhere. Despite poor reviews we went with Npower who have been extremely efficient.

[Stephen]

As much as I agree with you all I always think that as soon as I swap suppliers they will go and up their prices as well, so you are constantly chasing your tail to save a few bob.

Better the devil you know.

Oh I don't know Stephen .. in the case of our car insurance we saved £300 overall - not to be sneezed at

I must admit, I have checked out gas and electric comparisons several times but the small amount gained isn't worth it, or you have to go onto direct debit where they take X amount out of your account each month, which I don't particularly like.
I agree with car insurance DQ, we (Royal WE:) always shop around for car insurance. Yes, I think we will be shopping around next year for buildings and contents insurance, as you say, it's getting silly money. You just have to make sure you are getting the same cover and the excesses aren't sky high.

[towny44]

Unlike Stephen we do opt to pay by DD to ensure we get the best deals, which at present seem to be fixed price deals, and the prices do seem to be reducing, so you need to check the best deals regularly. Which is why we have stuck with Scottish power since their current deals do not impose a cancellation fee.

[Silver_Shiney]

There was an interesting article in the Daily Wail the other day about this, and apparently there are several smaller companies now emerging who offer far better prices than the traditional "big 6".

I would never do a direct debit plan, as I believe in paying what I owe, when I owe it, not building up a balance to be paid or repaid every so often. I'd rather get the interest(?!) on my money than the utility supplier.

[Stephen]

There was an interesting article in the Daily Wail the other day about this, and apparently there are several smaller companies now emerging who offer far better prices than the traditional "big 6".

I would never do a direct debit plan, as I believe in paying what I owe, when I owe it, not building up a balance to be paid or repaid every so often. I'd rather get the interest(?!) on my money than the utility supplier.

Exactly my thoughts. Get the bill, pay it, end of.

[oldbluefox]

Changed last year - very simple. No problems in changeover. Original suppliers couldnt care less whether we stayed or went elsewhere. Despite poor reviews we went with Npower who have been extremely efficient.

We have just left NPower. We had been with them for quite a long time as their prices compared well with the rest of the main suppliers. As Stephen says there's not a great deal in it. However we came across a company called Ovo and price comparisons indicated a reduction of £98pa in our consumption costs. Considering the easy transfer if we do save £98 it will have been worth it. The only difference between them and NPower seems to be they like a meter reading every month and I get an email to remind me. If that's the only hassle it's no problem to me and means my bills will be accurate. We will find out next year how good they are.

[Silver_Shiney]

I'm thinking of looking at Ovo.

One company I won't be considering is extraenergy - they've spammed me twice at work and won't respond to complaints.

[oldbluefox]

It's so far, so good with Ovo. They have a lovely clear website which is simple and uncluttered so navigation is simplicity itself. There don't seem to be too mant gimmicks and gizmos but, after all, all I want is an efficient energy supplier.

[Andrea S]

I have been with EDF for a number of years, usually on a 3 year fixed rate. They have a price promise where weekly they will notify us if there is a price saving.

Week after week they e mail and OVA consistently comes out as the cheapest provider.

As we spend a lot of time away during the winter months our annual bills are quite low so we havn't bothered to change but I do take notice for the future.

[Stephen]

Just had a look at Ovo and we could save £281 a year on our gas and electricity. The only reservation I have is they require a monthly direct debit payment which I'm not sure about. I need more answers before I commit, like how do I know if I'm paying enough or paying too much, and is it closely monitored.

The other thing is, my current supplier is advertising a price freeze on standard energy prices until 2016, which gets me thinking, do I stay where I am for now

I'll have to discuss it with my financial adviser (Juliet)

[towny44]

Stephen regarding DD payments, I have found that most eńergy suppliers will readily adjust the monthly payment if it gets out of line with your usage. To ensure they have a good idea of your usage it's best to provide them with regular meter readings.
As far as which direction the prices will go that's another matter, but we opt for a fixed rate and regularly check with Uswitch to see if we could do better.

[Andrea S]

Stephen, I do pay monthly by Direct Debit and with EDF it is monitored regularly. I presume other companies work in a similar way.

Initially they took the previous years total bill for gas and electricity and divided it by 12. Depending when you join this system it can mean you are in credit for quite a bit of the time but with EDF they do reduce the payment if this builds up to much.
My payments have just been reduced by £9.50 a month so I do feel that they are not taking advantage of me.