It is recommended to compare energy prices every six to nine months to check if you’re getting the cheapest plan. However, many consumers think switching retailers is a load of work. As a result, some stay loyal with their supplier without realizing they’re paying more than they should.
It’s time to enjoy the benefits of switching retailers. But when is the right time to do it?
Here are the times when it’s worth comparing your energy plan or when you are in need of one.
WHEN CHANGING ADDRESS
Moving house is the best time for switching energy plans. It is possible to use the same plan on a new address by reconnection. However, if the new place is bigger or smaller compared to the previous house, it’s better to check for other available energy deals in the area. Change to a plan that is more suitable for the new house needs.
WHEN CURRENT DEAL EXPIRES
Most contracts run between 12 to 24 months. It’s the responsibility of retailers to remind their customers when the energy contract is about to end. Once a reminder is received, start shopping around for a new energy contract. Also, it’s a good idea to keep a note of the start and end date to arrange it on time.
Compare rates to check if it’s worth the stay with the current provider or better try other options. Make sure to ask the retailer if there are any exit fees to pay when choosing the latter.
WHEN RETAILER’S PRICE INCREASES
Another perfect time to consider switching is when prices are about to increase. Expect that if the energy market rates increase, the electricity bill surely increases too. Variable rate consumers are affected more during price hikes. The good thing is they can switch plans whenever they want without paying any termination fees.
Be smart and wait for all retailers to raise their prices before switching. It helps to identify who is the cheapest one. It also avoids the wrong decisions.
IF YOU HAVEN’T SWITCHED IN A LONG TIME
Staying with the same provider for more than a year or so is a good reason to switch provider. Prices may decrease and increase at any time during this period. There is a high chance that the current provider is not the cheapest one in the area or you can get a better offer from them.
Also, as part of the market strategy, if a consumer ignores that their deal has expired, some retailers move them into fixed rates. Comparing energy plans is definitely worth it to check how much you can save.
Read More: Fixed vs Variable Rates
BEFORE WINTER ARRIVES
Switching to cheaper deals before cold temperature approaches help lessen energy bills. Significantly more energy is consumed during winter. In this season, consumers use heaters and dryers more than summers. These devices are 2 of 6 appliances that consume the most energy. Switch to better plans to avoid an energy bill shock. Click Here to check about which appliances consume more power.
YOU SIMPLY WANT TO CHANGE PROVIDER
Being unsatisfied and unhappy with the current retailer are obvious signs that it’s time to switch. Thanks to online energy comparison tools like Econnex, there is no need to suffer from expensive energy bills.
We provide the most competitive energy plans. COMPARE, SWITCH AND START SAVING TODAY!
Click here to start.