The latest announcement by Ofgem regarding the new energy price cap is considered to be far better news for consumers than suppliers. However, with the energy price cap set to a level of £1,137 per year, many people find it impossible for consumers to complain regarding their annual savings. However, plenty of websites that compare energy prices avidly such as ‘MoneyPug’ believe that both energy providers and consumers would be better off if the latter consider switching suppliers right away.

Households in the UK tend to stick to the same energy providers for years on end, and somehow miss deals and huge savings in return. Switching energy suppliers is no big hassle. Households on standard variable tariffs – those that actuallytake the time to read their bills and comprehend the terminologies cited on their utility bills – have benefited from switching energy suppliers in more ways than one.

Why Should You Switch Energy Providers?

Ofgem believes that consumers in the UK such as households can save up to 245 to 500 a year if they considered switching energy suppliers.

In order toreduce utility bills, try to make use of the cheapest tariffs because they come in handy while switching suppliers.

Moreover, you can always make use of makeshift energy comparison websites which not only allows you to compare energy pricesbut also helps you to switch providers hassle-free. Some websites also come up with a cash-back guarantee and bonuses that come in handy while switching suppliers.

You can also get a refund if you plan on cancelling your switch at least two weeks before it is complete. With such bonuses, refunds, and a lucrative sum in the form of savings per year, we think it’s about time you switched energy providers.

How to Switch Energy Providers?

Research

The first step is to research aboutvarious energy suppliers and their tariffs in detail. You can look up details regarding all of the 40 listed energy providers either on any energy comparison website such as MoneyPugor on Ofgem to find out about their standards.

Information

Before switching suppliers, try to gather as much information as you can about your previous energy suppliers. Make sure you have the name and details about your current tariff and supplier along with the postcode before you make the call or the switch online.

Compare Suppliers

With an addition to the savings you might run by the end of the year, what other bonuses does your new supplier have in store for you? Try to compare your shortlisted energy suppliers based on their customer service and satisfactory details. Judging an energy supplier based on its performance, gimmicks, tariffs, and other deals not only helps you to make the right choicebut also helps you to switch hassle-free and with guarantees.

Energy comparison websites believe that the new energy price cap is temporaryand only seems charming because of the fact thatit might work indefinitely. Thismight be proven otherwise when Ofgem revises its energy cap in February and unleashes a hike its price by April.