Switchd - Automatic Energy Switching to best tariff

MarkBiHome

Hello

Just come across this website: switchd.co.uk. It automatically changes your energy supplier every 6-12months and puts you on the cheapest tariff. It’s free until it saves you over £50, then it charges you £1.99/month.

Was wondering if there is anyone out there who has tried this and think it’s worth while doing or not?

footyguy

Why would anyone pass this to someone else, with the strong possibility of ending up paying almost £24 a year for the pleasure?

How does it calculate what is cheapest? Does it use the Ofgem mandated method of calculation, much despised by so many MSEers?

Join MSE's CEC, get entirely free alerts that highlight when you can save money (you can also set the saving achievable required before receiving such alert), and switch yourself for free.
Also you may get (rather than pay) £25 per dual fuel switch, and you stay in complete control of who your supplier is.


Edit: Other comparison sites are available, some with a similar type of free alert process.
Follow the link's in the MSE article on switching, and you could earn even more cashback than MSE pay :money:

Good luck!

footyguy

Switched Energy Ltd which is a private limited company incorporated in England and Wales with company registration number 10408051
Date of incorporation: 03/10/2016
So First accounts made up to 31 October 2017 due by 3 July 2018
Registered address appears to be a 1 bedroom, residential flat in London.
(only other contact information appears to be an email address and possibly some social media contacts)

From their website:

One customer has saved £1,500+ two years running.

:rotfl::rotfl::rotfl:
How is this even possible, unless this outfit put the customer on a really bum deal 12 months ago?

Also

Forget comparison sites....

We estimate you’re overpaying £325 a year!

The above savings are calculated by combining national average savings by house type and region for your property.

Shocking! :eek:
All the comparison sites suggest I can save about £2 on a dual fuel deal, or about a tenner if I switched to seperate suppliers (both of which which ignores the early exit fees I'd incur)

So who is right?
All the various, independent, Ofgem accredited comparison sites that all give the same results?
Or this new upstart?

:cool:

MarkBiHome

Only came across the site through billmonitor.com (mobile phone useage tracking site).

This was featured on one of the Martins Money Tips shows.

Switchd

Hello,

We came across this and wanted to reply properly from Switchd. We've followed the rules and got a verified account so, as far as I can tell, it is now okay to respond on the thread.

The postcode estimator:
This is very much only an estimate, we don't have your tariff information at this point so can't give you a more accurate estimate. We use tariff data bought from an OFGEM accredited source so our savings calculations will be just as accurate as theirs.

Our Algorithm:
Our algorithm is better than comparison sites as we take into account exit fees and only switch you when the time is right. We might switch you mid-tariff but ONLY if there is a deal that's cheaper for the remainder of the tariff (taking exit fees into account).

The benefit of using us rather than doing it yourself or using the other 'alert services' is that:
- We check you against every tariff EVERY DAY, rather than just monthly.
- We AUTOMATICALLY process the switch for you without you doing anything
- We switch to the ENTIRE MARKET, rather than just suppliers who pay a commission :j

I hope that makes sense, any questions please reply and I will be happy to get back to you.

Thanks!
Llewellyn

System

Switchd wrote: »

Hello,

We came across this and wanted to reply properly from Switchd. We've followed the rules and got a verified account so, as far as I can tell, it is now okay to respond on the thread.

The postcode estimator:
This is very much only an estimate, we don't have your tariff information at this point so can't give you a more accurate estimate. We use tariff data bought from an OFGEM accredited source so our savings calculations will be just as accurate as theirs.

Our Algorithm:
Our algorithm is better than comparison sites as we take into account exit fees and only switch you when the time is right. We might switch you mid-tariff but ONLY if there is a deal that's cheaper for the remainder of the tariff (taking exit fees into account).

The benefit of using us rather than doing it yourself or using the other 'alert services' is that:
- We check you against every tariff EVERY DAY, rather than just monthly.
- We AUTOMATICALLY process the switch for you without you doing anything
- We switch to the ENTIRE MARKET, rather than just suppliers who pay a commission :j

I hope that makes sense, any questions please reply and I will be happy to get back to you.

Thanks!
Llewellyn

One simple question. What calculations underpin your savings? For example, if you are using the Ofgem approved 12 month cost calculation, then it is possible for you to come up with a £50 saving when a switch to a new tariff will cost the consumer more.

Switchd

Hello,

Thanks for asking.

In that case you mentioned, we would not switch.

We will ONLY switch someone if the new tariff is cheaper than their current tariff (or it's the end of their tariff). If it's not cheaper our algorithm will wait until the tariff ends or prices change.

We use the OFGEM approved calculation to quote the saving if we do switch someone, but we don't base the decision of whether to switch on this.

Hope that makes sense?

Thanks,
Llewellyn