Energy prices are rising and you’re not sure you’re getting the best deal anymore, but switching energy supplier seems like too much of a stress, right? Well, you’re in good company: nearly 40% of customers that haven't switched before are put off by the perceived hassle of it all. But you’d be wrong! Changing your energy supplier is actually pretty straightforward, and definitely worth considering: according to new figures, consumers are paying an astonishing £3.9 billion more than they have to simply be not being on the best tariffs.
Let’s start by clearing up some common myths.
Nope. Despite 46% of consumers believing they have to sort out all the nitty gritty themselves, all you have to do is make the call, and your new supplier will take it from there.
This is an understandable worry given the high prices of energy, but you’ll never have to pay more than one supplier at a time, since your old supplier will pass over meter readings to your new supplier on the day of the switch. Just make sure you supply accurate meter readings on the day!
It won’t be! This is one of the biggest switching myths around, but you can be rest assured that your supply will be continuous regardless of which company is doing the billing. You won’t notice any change at all, except to your bills!
Nope. No workmen, no pipe changing, no digging. Your original pipes, meter and wires will all stay in place and gas and electricity will be delivered in exactly the same way as before.
So before you start looking for a new energy deal, it’s helpful to gather together the following information:
There are several ways you can find out about other suppliers and their offers.
It’s usually quickest and easiest to use a price comparison website to see what deals will suit you best. Simply input your information and the site will calculate applicable offers. You can then see how they compare to your current supplier and make a new choice if you wish (remember, choosing a new deal could save you hundreds of pounds a year!)
The comparison site will either guide you through the switching application process, or you could ring the new supplier directly. They’ll manage everything for you, and you should be completely switched within four to six weeks. The only things you’ll need to do are:
It’s worth noting that if you have outstanding bills or debts with your current supplier, you may not be able to switch until these are paid off.
There are a bamboozling number of tariffs available, so usually the hardest part of switching is picking the right one. Here are a few things to keep in mind:
Then take a look at our awesome infographic on switching energy suppliers.These stats might convince you that making the switch is the best thing you can do for your wallet!
OVO Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879
Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3% interest rewards, exit fees and saving claims.
1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount. All rates correct as of 23/08/16, but may go up or down.
2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas). All rates correct as of 23/08/16, but may go up or down.
3Pay Monthly Savings are based on the average estimated annual costs for new PAYM OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.
33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.
3% interest: Calculated at 3% per year, paid monthly based on number of days in credit and the amount left in your account after you’ve paid your bill. OVO Interest Reward is capped at 12 times the amount of the current direct debit amount and is available to customers paying by advance direct debit. Terms apply: http://www.ovoenergy.com/terms/
95% of new customers save when switching to OVO: Based on all new customer signups between 01/02/2016 and 31/07/2016
94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.
Britain's top rated energy provider: Britain's top rated energy provider in the Which? 2015 satisfaction survey. Survey conducted in October 2015. Awarded in January 2016.