When to Switch Energy suppliers

Lochstyle

Hi

I manage the gas and electric accounts for my cricket club and i wondered if anyone has any advice on what time of year it would be best to switch suppliers.

I think that it would be best to arrange the accounts so that the deals run out during the summer months as i would think that prices would be better in July than in December. Is this likely to be the case or would it not make any difference when i do the switching?

Cheers
Loch

System

Lochstyle wrote: »

Hi

I manage the gas and electric accounts for my cricket club and i wondered if anyone has any advice on what time of year it would be best to switch suppliers.

I think that it would be best to arrange the accounts so that the deals run out during the summer months as i would think that prices would be better in July than in December. Is this likely to be the case or would it not make any difference when i do the switching?

Cheers
Loch

Hi. If we could all see into the future, life would be very simple. The early signs are, imho. that energy prices will soon begin to rise. The £ has fallen against the USD (oil is purchased in USDs); the price of oil is rising on World markets and ........

Personally, I would fix now but I am sure that there will be others along that disagree.

Blackbeard_of_Perranporth

I am a switcher with my supplier, they are constantly within £5 a year for both Gas and Electricity. For the last 4 years I have switched about once every eight weeks to their best one year fixed by DD. In the future prices could start to go up, and as they now pop an exit fee should I change supplier, I would guess that within the next few months, I will be looking at a two year deal.

But then again prices could fall when we leave the eu!

backfoot

I don't think taking out a fixed term contract should be influenced too highly by seasonal demand. Most fixes cover a minimum of one year and therefore the Supplier's have factored in their view of forward prices and have already advanced purchased their requirements.

This winter saw quite considerable price falls across the Board and flexibility was key to take advantage.i.e. avoiding contracts with exit fees.

Perhaps that downward pressure on prices has now run its course and oil prices have largely stabilised so expect the Supplier's to start to reverse the recent trend.

My advice would be to fix now but still try and avoid exit fees for now as there are some new market entrants pushing for market share and still competing well on price.

Also consider using separate Suppliers for gas and electricity as some of the best rates can be found that way.

I am assuming the Club is classed as a domestic supply but that may not be the case?

Let us know what you go for?

Lochstyle

Hi all

Many thanks for your helpful replies.

I will be switching the clubs gas today, electricity will have to wait a little while longer or we will face exit fees. probably looking for 1 or two year fixed depending on the deals on offer. I will let you know how i get on.

Backfoot - just to let you know, unfortunately sports clubs are classed as businesses so i can only get separate supplies for the gas and electric.

Cheers
Loch

Lochstyle

Hi Folks

Just to let you know I switched this morning through the MSE link to Energylinx. Having checked out all the other comparison companies on MSE and haggled with our existing supplier Energylinx offered the best deal.

I have taken a 2 year fixed contract with Flo Gas. rates as follows: 15 per day standing charge and 2.28 pence per Kwh.

Hopefully should save us around £150-200 per year over current contract.

thanks again for your help.

Cheers
Loch

Bark01

There is some logic around timing a price switch, but its not the season you sign up it’s the number of winters that the tariff covers. As consumption is more over the winter suppliers will make more margin so can potential utilise lower prices.

I.e. Sign up to a 1 year fix in August and you will have one summer and one winter consumption period i.e 100% of annual consumption
Sign up to an 18 month fix in August and you will have one summer and 2 winters and as consumption is more in the winter you will end up with ~180% of annual consumption in a period that its 150% of a year.

Not sure I’ve explained that too well.

Anyway wholesale prices have started to increase. It’s too early to know if it’s going to be sustained but I personally think the market has bottomed out. Non energy cost rises should mean that an Electricity increase is due towards the end of the year.