Energy at the movies, why switching energy supplier isn’t a horror film
Like many of you, our family finds itself in the midst of the school summer holidays. For us this creates the usual ongoing challenge of continuing to work whilst spending time as a family and juggling the variety of childcare support options we need to use.
This week it meant I needed simple entertainment for a couple of hours for two young boys, the obvious choice: a trip to the cinema to watch Captain Underpants! At this point your thinking where is this going and how can this in anyway be linked to the world of energy suppliers. Well, I see it like this, Captain Underpants is no regular superhero, he is blessed with an infinite amount of undergarments to flick at his foes and his call to action is “Tra la la”. Both of which feel as effective as the interventions being proposed to the energy market this week – see what I’ve done there!
In what appeared to be a response to the price rise by British Gas the government announced an independent enquiry to look at the “cost of energy”. In reality this is a broad ranging review and is more focused on the make-up and structure of the market in the face of significant change, rather than a view on the competitive nature of the market and the tariffs customers pay. Remember in this regard a number of enquiries and reviews have found the market to be very active and offering a wide range of choice for customers.
Over three million customers switched energy supplier last year
Conversely in the same week Energy UK, the body that represents the UK Energy Industry released data that shows switching energy supplier continues apace. In fact already this year three million customers have switched, which is a 14% increase versus this time last year. Energy UK also noted that domestic customers now have more than fifty suppliers to choose from. When you think about the handful of providers you can pick from in the world of mobile telephones, fifty feels dynamic, exciting even…..
However, what these figures perhaps don’t show is that a high proportion of those switching are likely to be serial switchers – those savvy customers who are always ready to move once their fixed rate deal ends. Think of it as you would your mortgage: you lock into an interest rate for a fixed period, once this ends you either move to default rate or you switch to a new product, possibly with a different provider. I believe we should think of our utility bills in the same way and if more of us adopt this view we can get those in the most need of a better deal looking at the market and switching.
I hear many customers saying that they are anxious about switching as they fear losing power or being without a gas supply if something goes wrong. In reality this a myth and in the majority of cases switching goes smoothly with the only action you as a customer need to do is to take meter readings on the day you formally switch from one supplier to another. In fact to drive confidence in the process an “energy switch guarantee” has been created, you can read more here: https://www.energyswitchguarantee.com, but in short the energy switch guarantee should give you the confidence in the process you are looking for, if your are first time switcher.
Why not start that journey now and get a quick quote here: http://www.switchingenergy.co.uk