Written by Having a shop around for a new gas and electricity provider is one of the best ways to make sure that you’re getting the best deal on your energy, especially in today’s current market. However there are a lot of untruths and misconceptions related to the industry that could hinder your search.
So to help make sure you have all the facts here’s our list of the 7 most common energy myths.
Myth 1: Switching is a long difficult process.
This one is particularly wrong as since deregulation the energy companies have been warned to play nice. In order to switch gas and electricity supplier all you need to do is contact the company you wish to switch to and give them a meter reading; from there they will contact your current supplier and tell them you’re moving. The whole thing takes between 4 and 6 weeks but it’s the suppliers that deal with it all so there’s really no hassle.
Myth 2: You can only get your energy from your local energy supplier.
Up until the 90’s British Gas supplied the country with gas and electricity was from a local supplier. The gas market was deregulated in 1998 and the electricity market in 1999 this gave consumers the choice to receive their gas and electric from whomever they liked.
At the moment there are over 20 gas and electricity suppliers in the UK and you are free to switch to any of them.
Myth 3: Both your gas and electricity must come from the same company.
These days the majority of fuel suppliers do offer a dual fuel tariff and whilst in most cases it’s usually quite a bit cheaper to look at dual fuel tariffs and get your gas and electricity from the same company, this is not always true. So we would definitely suggest that you shop around.
Myth 4: Each payment method only has one tariff option.
To be honest I wish this one was true – a recent Ofgem review of the current energy market has shown that there are more than 300 tariffs available just now. Ofgem is consulting with the suppliers to greatly reduce this. If you’re curious about what tariff your on just check one of your bills.
Myth 5: I am only a tenant so I can’t switch.
This depends on your tenancy agreement but because the switch is all done behind the scenes it won’t make any difference to the property. However your agreement may state that you either can’t or that you must notify your landlord before doing so.
Myth 6: Your gas and electricity will be switched of whilst your switching.
These days your gas and electricity all come from the same place, the only difference between suppliers is the amount you pay. So you can keep the same pipes and the same meters etc. it’s just your bills that will change.
Myth 7: How I pay doesn’t affect the amount I pay.
This one is becoming less common now as most people are paying the same way, but the way you pay can dramatically affect how much your pay.
Recent figures taken from the Big Six energy providers have shown that your bill can be up to £91 cheaper if you choose to pay by direct debit. This is because suppliers feel they are more likely to get their money if it is being paid to them automatically.
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