By switching, energy customers can move to a new tariff offering better value for money, or to a new supplier for better customer service.
Moving to a new energy supplier or changing tariff is straightforward and you can switch online, or by phone. Once you've signed up with a new supplier, the switch should be complete within a maximum of three weeks.
Should I switch?
Most energy customers are currently on a standard variable tariff (SVT) and pay at a level set by the price cap for each kilowatt hour (kWh) they use.
However, wholesale prices have recently fallen and suppliers are now beginning to offer fixed rate energy tariffs. These allow you to lock your energy price per kWh for a specified period of time.
Fixed tariffs can offer benefits such as knowing what your unit rate will be in advance, and this can help with household budgeting. They also offer protection if prices start to increase again. However, you won’t be able to take advantage of cheaper prices if they continue to fall.
If you’re thinking about switching to a fixed-rate energy tariff, there are some important things to consider:
- Fixed deals can involve exit fees. If prices continue to fall and you want to leave before the end of your fixed tariff, you could face high costs
- If a deal is below the current Price Cap, it may not be when the price cap is reviewed
- Energy prices are still unpredictable. They may fall in the short term but there’s no way of knowing if this will continue or whether they’ll increase again
The best energy deal for you will depend on your usage and circumstances, so if you’re thinking about switching it’s important to make sure you get a deal that’s right for you.
You can assess the different deals from suppliers using an Ofgem-accredited price comparison website. See our list of links below.
Ofgem-accredited price comparison websites
How to switch
First, make sure you have the following information:
- Your postcode.
- The name of your current supplier.
- The name of your current energy tariff.
- Your annual energy usage or costs.
You can find your tariff, supplier and annual information on a recent energy bill. Log into your online account if you don’t get paper bills. If you aren't sure about your current supply details, see Finding your energy supplier or network operator.
Once you've chosen the tariff and supplier you'd like to move to, you can then confirm your contract and payment method with them. Paying by Direct Debit usually saves money.
Your new supplier will contact you with a switching date. It can take up to 5 working days to complete a switch, though you can specify a later switch date if you wish.
If you change your mind You have 14 days to cancel from when you agree to a contract.