How to compare prices for moving to a new home

Sncjw

Hi everyone 

I currently rent a flat and I am on untilita pre payment. So when we move to the new house tommorow can we check the comparisons for savings before we hook up the energy back on again. 

Are we able to start with a. New supplier tomorrow or do we need to call the current suppliers. 

Thank you 

Talldave

You must sign up with the current supplier(s) at the house. Once that's done you're free to shop around and switch. 

matelodave

You must read your energy meters as soon as you take possession and register with the existing supplier. You must open an account with them and tell them the meter readings, otherwise you wont be able to swap suppliers. You will still be liable to pay the existing supplier (hundreds of posts from people who have problems because they haven't done this). Make sure you keep this info safe - take photo's of the meter as well just in case the previous owners/tenant have told fibs when they moved out.

You can use the comparison sites to check prices - you just need your postcode and can guess an annual amount - use something like 3500kwh for leccy and 12500kwh for gas as a starter.

It's more complex if you've got all electric or storage heaters.

You are interested in how much its going to cost, not how much you'll save. Once you've chosen your new supplier contact them and sign up. They will sort out the transfer and will ask you for meter readings on the transfer day (it usually takes around three weeks) Send them the readings and again save the info yourself. The new supplier should contact the old supplier (you dont have to and it can sometimes confuse it all if you do)

After a period of time (could be 6-8 weeks) you should get a final bill from the old supplier - check it carefully to ensure that it has used the readings that you gave when you moved in and the same readings that the new supplier has used when you transferred.
Then the really really important bit - read your meters yourself every single month (even if they are smart) and then send the readings through to your supplier and CHECK your bills and statements to ensure that they are using the correct readings and that your direct debit is on track to cover your consumption.

Personally I always download my monthly bills and statements and save them as PDF files (it can save a lot of hassle in the future if you keep your own records)

Its really easy if you do it right and a nightmare if you don't

Sncjw

Thank you . Does this mean I will be tied into a contact with the new supplier and pay exit fees. 

Sncjw

I meant the supplier of the house now

tim_p

You’re tied in initially but you can switch away immediately, although it will take a few weeks to complete.  Make sure you record and photograph the meters as soon as you have access. 

mac.d

When you register with the current supplier of the house you are on a deemed contract with them, which is a standard tariff with no exit fees. It's only if you then decide to pick a cheaper tariff with the current supplier that you may end up with a fixed term deal that has exit fees. 

The idea is to register with the current supplier, but then immediately look at the price comparison websites and look for the best deal, and start a switch to that supplier. That way you'll only have a few weeks of paying the old supplier on the deemed tariff before you are on a better deal with the supplier of your choice.

See the following guide on citizens advice for more information:
https://www.citizensadvice.org.uk/consumer/energy/energy-supply/moving-home-your-energy-supply/moving-home-dealing-with-your-energy-supply/

Talldave

When you call the incumbent supplier, they will probably try to get you to sign up to their "Bargain Tariff 2020 v3" or whatever tariff which will probably come with exit fees.  So if you're wanting to shop around, don't let them push you onto a tariff with exit fees - be very clear that you want to be able to switch without exit fees.

matelodave

There's nothing to stop you looking for another supplier today if you've got the time and inclination - just don't sign up with them until you've sorted out the existing one after you've taken possession.

As said, just go onto their standard tariff, it will be their most expensive but as it's only for two to three weeks it wont make much difference and you wont have any exit fee's.