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Money Matters: Do switch energy provider – with care

Regulars | By ​Margaret Dibben

Margaret Dibben on the boons and risks of switching energy providers 

We have all heard the message ‘Switch to a different energy provider and save money’; and around 3.5 million people did in 2017. A quarter of them moved from the well-known big six providers to small or medium-sized energy suppliers. In future, even more will be signing up with companies whose names they have never heard of before. Energy price hikes, announced many months ago, are just now taking effect and over a quarter of a million customers are being automatically moved to expensive standard variable tariffs. It was difficult enough choosing between a handful of companies but now there are more than fifty wanting your business. These include supermarkets, small local concerns, online-only providers where you read your own meter, and several local authorities which have set up publicly owned energy companies for their residents. Many specialise in providing renewable energy, which is now competitively priced and increasingly significant. ...

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