6 questions to ask when choosing an energy supplier

6 questions to ask when choosing an energy supplier

If you are thinking about switching gas and/or electricty suppliers, there are a number o factors to consider in order to get the best deal. Before you make a decision, ask the following six questions.

How much do they charge?

This is the biggest and most important question. Energy suppliers are required to publish their prices and they should give you a no-obligation quote if you ask. You will need to know your current usage in order to get an accurate quote – you can find this information on a recent energy bill.

What is their standing charge?

A standing charge is a flat daily fee you pay for having access to an energy network, and you pay the same amount regardless of how much energy you use. You then pay for your energy usage on top of this.

A higher standing charge is useful for high energy users, as it brings down your unit rate. The opposite is true for very low users. Some companies even offer zero-standing charge tariffs.

Do you get a Smart Meter?

Smart meters are modern, next-generation gas & electricity meters, designed to eventually replace traditional meters. They come with an in-home display – a small digital device that displays your energy usage and spending in near real-time.

Smart meters are usually installed for free by your supplier. They come with a range of benefits, including more accurate energy bills. You can find more information about smart meters here.

Do they charge an exit fee?

If you decide to switch suppliers again in the future, you don’t want to be hit with unexpected charges. Ask your new supplier upfront if they charge an exit fee, and how much it is.

Do they have a good reputation?

The energy industry is bigger and offers more choices than ever. Along with the established big suppliers, there are now many smaller independent companies offering very competitive rates. Before signing up with any supplier, check out their reviews on an independent website such as Trustpilot or Feefo.

What are my payment options?

How does the energy company let you pay? Monthly direct debit? Quarterly payments? Pre-payment meter? Decide which suits you the best and find out if the supplier offers that option.

 

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