Was switching my energy supplier worth it?
Posted by Gabby Mallett on 21 November 2016 at 11:05 am
OK, so I switched a little while ago and I wanted to tell you how painless it has all been.
The new supplier, Bulb, wrote to me almost immediately to welcome me to their new community. They introduced me to their website where I will be able to post meter readings to keep track of my usage (with some nice graphs) and there is a forum to post questions and comments. Then basically they did all the work. They contacted my existing supplier and told them about the move. Between them they worked out a final reading.
It turned out that I was hugely in credit on my gas account; just over £185 and a little in debit on my electricity account; £27. My existing supplier sent the £185 straight back to my bank account and I had to send a cheque for the £27. That meant that I was £158 better off than I had expected to be. Of course one of the reasons that I was so much in credit on the gas account was that the suppliers try to build up credit during the summer months to help offset the big rise in costs during the winter months. The new supplier won’t have that credit buffer and they may need to put my direct debits up quite soon to cover the additional winter usage, but let’s wait and see.
There’s not much else to report. I had a good few emails from Bulb and my existing supplier, but they were really just keeping me posted on what was happening rather than asking me to do things (other than send a cheque for £27). I have already logged on to put my first meter readings online with Bulb and I am generally a happy little bunny and so pleased that I decided to switch.
The interesting thing will be what happens next year. I think I am going to be a ‘rate tart’. I have always shopped around for the best interest rate for my savings account, which probably only makes the difference between £10 and £12 at the end of the year and I wonder why I haven’t done this before to save £225 over the year. It just makes sense to switch.
Image credit: David Dodge
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