Gas Electric Start
Gas Electric Start
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US $439.99
The Best Time to Switch Gas and Electricity Suppliers
Although loyalty is an admirable quality when it comes to choosing your friends, when it comes to choosing your utility supplier being loyal is rarely the smartest thing you can do. Being loyal to your gas and electricity supplier denies you the opportunity to take advantage of the best prices on the market. Gas and electricity companies depend on the loyalty of their customers to continue providing them with revenue that they do not always deserve.
The astute customer may be able to wrangle some sort of loyalty discount out of their supplier for staying with a company for a number of years. However, more often than not, the gas and electricity companies cannot match some of the excellent online discounts and introductory offers that their rivals can to lure customers away.
Switching supplier then is all part of the energy game but deciding upon the best time to switch can be difficult. There are six main suppliers of gas and electricity in the UK, and they tend to alter their prices at roughly the same time of year. It makes sense to hold off switching supplier until all of six have adjusted their tariffs. This way you can appraise the situation with the fullest understanding of the market and make the most informed decision by comparing which of the six contenders offers the cheapest gas and electricity.
Although the logic of this method is sound, the reality is that waiting for each of the suppliers to show their hand can end up costing you a lot of money. For a start, the time delay between the first supplier changing their prices and the sixth supplier changing their prices can be several months.
Let’s assume for the sake of argument that the time between the first supplier announcing their changes and the sixth supplier is three months. Even if the last supplier to change ends up eventually working out the cheapest, by choosing not to switch with the first supplier, you have wasted three months of time where you could have been saving money. In the three months spent waiting, the amount of money you might have saved could outweigh the benefit of eventually opting for the sixth supplier three months down the line.
If the first supplier makes a price alteration in January, the last supplier typically won’t make their change until March, which means you won’t be benefiting from the change of tariff until early April. By that time, spring has arrived and is blossoming into summer, when your gas and electricity consumption is going to be much lower than it was when you needed to switch in the cold winter months. The seasonal variation in your gas and electricity requirements should change your priorities about how long you can afford to watch the market.
Ultimately, the best advice is: if you find a good deal (particularly in winter) then don’t delay on your switch. Getting an even appraisal of the market is a good idea but not if it will be at the cost of your energy bills. Seize the moment, and switch your supplier to reduce your <a href="http://www.uswitch.com/gas-electricity">gas and electricity</a> bills.
About the Author
Olivia has written various articles about gas and electricity and has researched the subject thoroughly. She also enjoys writing various other topics
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