Myths in the energy market, do actually put people off switching their energy provider. Consumers end up overpaying for their energy because they believe switching providers is difficult and time consuming. In reality, switching your energy provider isn’t difficult at all, it can be done in a matter of minutes.
Here, business energy providers Green Energy discuss some myths circling the energy market and our thoughts around these myths:
- “My gas and electricity will be switched off when I switch”
There is never any disruption to your supply when switching energy providers. Your energy is supplied through existing pipes and cables, it is only the supplier of this energy that changes.
- “I can’t switch supplier as I am in debt with my current provider”
This myth is partially true, but only valid if you have been in debt with your supplier for more than 28 days. You will need to pay your debts before switching energy providers. The only exception to this is if the reason you’re in debt, is actually your energy providers fault.
- “I won’t save enough money to bother switching”
If you have never switched your energy supplier, you may find yourself on a standard variable tariff (SVT) – this is a tariff that you are automatically rolled onto by your energy supplier if you have not chose to switch to a different tariff or provider. SVT’s are usually more expensive than fixed rate tariffs. By switching to Green, on our cheapest tariff you can expect to save £300 per year compared to the Big Six standard variable tariffs.
- “Switching is difficult and time consuming”
Many people assume that switching their energy supplier is time consuming and complicated, however this is not the case. Switching energy is now one of the easiest financial products to switch and only takes a few minutes. Once confirming your switch to another supplier, the new supplier will take care of everything from this point. Meaning no hassle for you as the consumer.
- “I don’t want to be charged twice during the switch over”
You will never be charged twice when switching your energy supplier. Once you have submitted your switch, your new supplier will be in touch with your current provider, to let them know that you will now be a customer of theirs. Your current supplier will bill you up until this time, then your new supplier will take over the supply from your live date.
- “I can’t switch because I don’t own the property”
If you are responsible for paying the energy of your home, you have the right to switch energy supplier, whenever you like. You could check the terms of your tenancy to see whether it states you or your landlord is responsible for the energy bills or ask them yourself.