Many of us switch energy suppliers in order to get the best deal on our gas and electricity.
With some energy companies now beginning to tie in their customers to 18 month contracts, more and more people are switching to a cheaper supplier while they still can.
It normally takes about a month to do this, but there is no gap in service during the switch.
However, it's not always problem free, as some people have reported long waits for refunds from their old suppliers when they've been in credit at the end of their contracts!
There have been some interesting stories doing the rounds as you can see:
- Reclaim hundreds of pounds from your supplier
The most common complaint occurs when users find out how much they are in credit with their supplier.
This happens when customers pay their bill by direct debit and the amount taken by the utility company is higher than the cost of the energy consumed.
If you want your money back you must be firm with your supplier. It's your money, which they have not yet earned. If a call doesn't work, write to them. If that doesn't work, follow their complaints procedure, which should be on their website, or switch to another provider.
When you switch, they'll have to refund you. But a threat to switch will normally be enough to get the refund.
- Ensure you don't pay other people's debts when you move home
When you move home, it's vital that you give a new meter reading to the existing supplier.
One consumer said that his supplier had tried to make him pay a debt left by the former occupant.
If you want to make doubly sure, you might want to send your meter reading by post or email, in addition to a telephone call. This should sufficiently cover your back.
- Use the most accurate comparison tool on the Web
Many people get frustrated when they're trying to use comparison tools to find out which supplier is cheapest.
The two main complaints are that, they believe:
1. The tools don't show them what the actual tariff will be (e.g. how many pence per kWh).
2. You can't enter the details of your existing tariff, so you have to rely on less accurate information, such as your past usage or how much you've been billed.
However, regarding complaint #1, most comparison tools do show you what the tariff will be.
In The Fool's tool, for example, all you have to do is run your search to get the table, which is in order of best tariff to worst. Then, click on the tariff name and it'll show you the details.
Regarding complaint #2, typing in your usage or bills is good enough most of the time to save money, so it doesn't matter.
However, typing in the tariff is undoubtedly the best way. What most people don't know is that you can actually do this through The Motley Fool's own tool, which we believe is the most accurate utilities tool on the Web.
- Consider a not-for-profit supplier
EBICO is a favourite of as it is not-for-profit and it has simple tariffs.
Many people believe that it is always very competitively priced. Sadly, this isn't true. Sometimes its tariffs are off the mark.
However, it is probably the most consistent, and you can be pretty sure it's not ripping you off, because of its not-for-profit status.
It's certainly suitable if you'd rather sacrifice bill savings for a reasonably consistent supplier which gets good feedback.
The Fool's comparison service does include EBICO in its tables, as usual!
Why not see how EBICO compares and find your cheapest provider through The Motley Fool's gas and electricity comparison tool?
Sounds like a bright idea to us!
© www.fool.co.uk 2007
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