Switching supplier

shopbot

I would like to switch energy supplier as the best advice seems to be that if you have not switched before you can make significant savings. I have not switched before so now seems like a good time.

I pay a fixed amount to my current supplier each month by direct debit. I put this amount into several comparison websites and they all said I could save approx 20%. How will this work in practice though? When I joined my current supplier they specified how much my monthly payment would be and I did not really get much choice about it. If this happens when I change then how will I realise the saving? i.e if the supplier makes a decision say to charge me for example only 5% less than I currently pay?

I hope this makes sense - if not I am happy to clarify!

Thanks
SB

Cardew

There is no point in putting in your monthly direct debit into these comparison sites as they usually do not reflect your consumption.

You really do need to get hold of you last year's consumption in kWh and feed that in to the sites. Or better still find out the tariffs and calculate exactly the annual bill at today's prices, taking into account any discounts for dual fuel etc. It is really just simple arithmetic to do this.

When you have found the total annual bill it will be easy to work out your monthly payments.

shopbot

Thanks Cardew - I'll start digging out last years statements tomorrow!