How to get the best energy deal: top tips on switching suppliers after being moved to a new plan by Ofgem

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‘Cheapest price doesn’t always mean the best’, says money expert Kevin Mountford

Millions of households have had their energy supply switched to a new provider in the wake of the gas price hike, which has seen many companies go bust.

Independent energy regulator Ofgem looks for a suitable alternative to transfer accounts to in such an event - but what happens after you’ve had your supplier changed?

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Ofgem advises to take a photograph of your meter reading and not to switch to another energy supplier until a new one has been appointed and made contact with you.

But the change in provider often means a change to a higher paying tariff, so what can you do to get back on to a better tariff - here’s some top tips on what to do next...

5 top tips on how to get the best energy deal

Kevin Mountford, CEO of online savings solution Raisin UK, offers these tips to customers who are trying to get the best deal for themselves, and their wallets.

Don’t be afraid to compare

Firstly, don’t be afraid to compare gas and electricity prices, this is essential to get the best deal.

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Whilst price comparison websites work really well, you can also manually compare them yourself (on their websites or by ringing them up), or you can use an automatic switching services which works out the best deal for you.

Comparison websites don’t show all tariffs

Price comparison websites can give you special tariffs that are exclusive to that website but remember that not all tariffs are shown.

Some energy companies have their own tariffs if you switch direct, so make sure to not rely too heavily on these comparison websites.

Read the small print

As tempting as it may be to just let an automatic switching services do all the hard work for you, it may cost you more than it could.

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Make sure to read their terms and conditions, and understand how they pick the best tariff for you.

You may want to look into which energy suppliers they work with, as they may not be able to switch you to the cheapest one out there.

And finally, check whether it’s a free service or a paid service - why pay additional when you can do it yourself?

Fixed or variable tariff?

There’s no clear answer to the ‘which is cheapest, fixed or variable tariff?’ question!

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When Which? Last checked on 16 November 2020, 41 of the cheapest 50 widely available tariffs were fixed deals.

Energy firms compete to tempt customers to join, which is why they are attractively priced.

The risk of cheap variable deals though is that companies can change the prices as and when they want.

So that cheap deal may turn costly, and remember the ‘Energy Crisis’ that is causing all of this stress to begin with.

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‘Cheapest isn’t always best’

Remember, the cheapest price doesn’t always mean the best. Consider their reputation with customers. Are they likely to increase your bill?

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