How to Switch to Another Energy Supplier
View more related buyers guides
Published by TOP4 Team
Just like shopping for clothes, cars or grocery items, today's homeowners have been given the power of choice when it comes to their energy supply and suppliers. In the past, you were practically left with no choice but to deal with your local utility company. With greater consciousness about the environment as well as new laws and regulations, homeowners can now choose from a wide variety of energy supply sources, from gas to electricity to renewable sources.
Homeowners shift from one energy supplier to another because of different reasons. Some simply want to enjoy greater cost savings while those who aim to lead eco-friendly lifestyles make the switch because they want to power their homes with clean and renewable energy sources.
In making a switch from one energy supply to another, one important consideration that you should take into account is the supplier which plays a crucial role.
If you are thinking of making the switch from one energy supplier to another, here are the steps that you need to undertake.
The first thing that you need to do is to determine how much you are currently paying for your energy supply from your current provider.
After that, you will need to obtain prices from potential energy suppliers. When looking at these prices, you need to compare these against several other critical factors including the contract terms and minimum bill amount. It is also a good idea to enquire whether the prices are fixed or if these change from month to month depending on usage. Check whether the supplier offers excellent customer service. To do this, try looking at the supplier's website, social media accounts and review sites. Finally, ask if there are termination fees that you need to pay for should you decide to switch to another supplier.
After obtaining the prices from all potential suppliers, the next thing that you need to do is to compare prices. The simplest way to do that is to subtract the supply cost of your current supplier from the prices offered by other suppliers.
The last thing that you need to do is to estimate any savings or additional costs that you may incur should you push through with the switch from one supplier to another. The simplest way to do this is to get your recent bill and find your monthly energy consumption in kWh. Multiply that by the potential saving or added cost and you will arrive at the total monthly savings or additional costs that you have to pay.