You are thinking of changing your energy supplier, but you don't know when the best time to do it is? Is it possible to do it at any time or is there a right time? How exactly does one proceed to change energy suppliers? Here are all the answers to these questions...
When to switch energy suppliers?
It is perfectly possible to change energy suppliers at any time, regardless of the type of contract you have signed, i.e. whether it is a permanent or fixed-term agreement. However, it is important to bear in mind that there is usually a one-month notice period for doing so. Not to mention that there are better times to change supplier. It is good to do so the moment you realise, with the help of a simulator, that you can save money by switching energy providers. You can also do this when wholesale electricity and gas prices fall. Note that it is ideal to take those steps immediately if your consumption is negative because the meter resets to 0 k Wh, resulting in the loss of the excess production.
How much do you have to pay to change energy suppliers?
Switching energy suppliers is usually free of charge as there is no fee to pay for terminating the old contract and taking out a new offer. You only pay the balance of the consumption up to the date of termination with the old supplier. On the other hand, you should take into account joint offers that may contain separate services that could, for instance, require you to pay a tax when you terminate the contract. It is therefore important to check the contents of your contract to see what conditions are included.
How do you choose your energy supplier?
There are two ways to choose your energy supplier: using comparison tools or making the choice yourself. Indeed, several online tools and comparators are available to you to compare energy supplier rates. In order to make the best pick, you should use comparators that are part of official bodies. You can also look at those provided by commercial companies that offer interesting promotional rates. If you have decided to choose yourself, there are some key points to consider; check the terms and conditions of the contract carefully to see if additional services or fees are included. Also, check the response time of the customer service as well as late payment charges.