Is now a good time to switch energy supplier?

One of the quickest and easiest ways in which you can save money on your household fuel bills is to switch energy suppliers. However, there is a little more to it than merely switching to whoever is offering the best deal at the time, as the energy market is very complicated and companies that can offer cheaper energy in the short term might work out to be much more costly in the medium to long term.

Picking the right time to switch suppliers is the key to saving the most money on your utility bills.In January 2009, Britain’s largest energy supplier, British Gas, cut their customers gas bills by ten percent, and since then four other leading suppliers have followed suit.
You might think that now would be the best time to change your supplier, but if prices fall again, as many predict that they will, then it might be better to play a waiting game. Energy prices are largely dependent on changes to the global price of oil, which itself is dependent on a number of political, military, and economic factors.

Wholesale energy prices have fallen sharply in the wake of the global economic downturn, and this has caused many customers and consumer groups to put pressure on energy suppliers to pass these savings onto the public. All of the major UK suppliers have now reduced their prices, but there have been rumours that they may cut them even further later on in the year.
There is no way of accurately predicting this however, and prices could just as likely rise if the price of oil starts to climb anywhere near the highs of last year.

You can save a lot of money by opting to pay your energy bills by direct debit and managing your account online, with a plan such as British Gas’ Websaver 3 tariff, although an internet connection is required in order to use these services. Bear in mind that the process of switching energy supplier can take as long as eight weeks, so be aware that even if you do switch to a cheaper tariff, you will still be paying at the old rate for around two months before the cheaper bills kick in.

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Switch to British Gas' cheapest gas tariff and on your gas bill. Make British Gas your cheaper gas supplier. For more info http://www.britishgas.co.uk/products-and-services/energy/gas.html

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