Each of these, and any other reason you might have, is a valid reason for shopping around.
There is no limit to how many times you can switch supplier to make sure you’re on the cheapest tariff, although there may be penalties for leaving a contract early. Make sure you have read and understood the contract. Reviewing annually is sensible, as you might for car or home insurance. When you make your gas and electricity comparison, you might find that you are able to save hundreds of pounds over the course of a year.
Even a small monthly saving can soon add up to be a significant sum. Don’t forget to consider the overall value of a tariff as well as the listed cash price. Some suppliers will offer their customers ‘added value’ by way of other discounts and vouchers and it will be up to you to establish whether or not that is something that is of interest to you. Perceived value may differ from one person to the next.
Service is important to many people, sometimes even ahead of price. If you have been unhappy with the service from your current supplier, you may decide to shop around and compare gas and electricity suppliers. Service can be more difficult to compare from a website so be sure to look at independent reviews.
There is a growing focus on environmental issues. For many homeowners, choosing a supplier which is able to demonstrate greener energy is key. When shopping around, suppliers should be able to explain how renewable their energy is, and the steps they are taking to make it more sustainable.
Renewable sources – such as wind, solar or wave power – are becoming far more mainstream as energy sources. They are continuing to grow as people want more alternatives to fossil fuels. ‘Green’ comes in various shades, and needn’t necessarily be more expensive. Currently, it is more common to have a renewable electricity source, although advances are being made on the gas front too.
Forgetting when your deal comes to an end is the quickest way of slipping into higher rates, so a regular review is imperative.