What to look for in a new energy contract

meter-types

There are many factors to consider when looking for a new utility supplier. For most people, the main concern will be the tariff associated with the contract. You’ll want to know exactly what you can expect to pay per kWh for electricity and per MJ for gas. If you have a solar panel system installed, inquire about any feed-in tariffs available for energy you generate and send to the grid.

Beyond this, keep an eye out for “hidden” fees and charges that may mean that you’ll pay more than you first anticipated. Common examples include charges for setting up or closing down your account, late payments, disconnections and reconnections, and processing payments.

Don’t forget to check the length of the contract and the cooling off period in case you’re not happy and want to opt out. You may also want to examine any discounts that are available for good customers who pay bills on time.

How long will it take to switch energy supplier?

Although the process of arranging the switch is usually fairly quick, however, in some cases it can take up to three months for the actual switch to take place. This will depend on the type of meter installed. The delay is due to scheduled meter readings, which usually only take place every three months. A final meter reading is necessary to close your account and give your new supplier accurate information about your usage.

Note that although the switch may take up to three months, it could take less time if you are towards the end of your billing cycle. The switch will also be fairly speedy if you have a smart meter, which provides up-to-date data about your energy use

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