Delegate the search for the best energy deal

There is help to find the best energy deal for people who never get round to switching provider.

941_MW_P30_energyswitch
Put your feet up and let the auto-switchers find you the best energy deal

Most people's household bills will have gone up recently owing to price rises on everything from council tax to broadband. For example, all of the "Big Six" energy firms put up their prices in response to regulator Ofgem increasing the energy-price cap. In the region of 15 million customers will see bills rise by more than £100 a year.

The good news, though, is that this doesn't have to be the case. In fact, if you switch to a cheap fixed-rate energy deal, you could save £329 per year compared with the typical "Big Six" standard tariff, according to a round-up of the cheapest dual-fuel deals by comparison site Money Saving Expert. The cheapest fixed-rate energy deal available at present is from Outfox the Market.

The people who will feel the full effect of the energy-price rise are those on their provider's standard-variable rate (SVR). That's the price you get moved onto once your introductory deal has ended. So if you haven't switched provider for a couple of years, you're probably overpaying.

To ensure you're getting a good deal visit a comparison website such as moneysupermarket.com or uswitch.com and type in the details provided on your energy bills. Ideally, you need to switch every time your current deal runs out.

There's always a service

Weflip

Look After My Bills

Migrate

The biggest of the three is Look After My Bills. It promises to never switch you if it will incur exit fees; only to move you for a saving of more than £50; and that it will honour your wishes if you want to stick to 100% renewable deals.

Many of these sites also blacklist companies that are about to go bust, so you don't have to worry about being automatically switched to a firm that can't honour its low-price offers.

The drawback? It is still worth occasionally checking the whole market for the best energy deals. Auto-switching services don't necessarily search all the tariffs available, only the ones signed up with them. You can get around that with Flipper, which searches the entire market, but there is a £25 fee for its service.

Recommended

More upside to come for the oil price
Oil

More upside to come for the oil price

The Brent crude oil price its highest level since last February this week. And there could be more gains to come.
14 Jan 2021
The price of this commodity has almost doubled since the start of the year
Gas

The price of this commodity has almost doubled since the start of the year

Liquefied natural gas (LNG) is fetching record prices in Asia, almost doubling in the last two weeks alone. John Stepek explains why this is so import…
12 Jan 2021
Where to find sustainable growth in renewable energy
Renewables

Where to find sustainable growth in renewable energy

The renewable energy sector has come a long way, but there is still plenty of momentum in funds and utility stocks.
21 Dec 2020
Political hot air lifts hydrogen stocks: here's how to profit
Renewables

Political hot air lifts hydrogen stocks: here's how to profit

Boris Johnson is committed to a green revolution. Hydrogen, long touted as the obvious answer to our energy woes, will have to be at least a part of t…
19 Nov 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The world’s fund managers are getting very bullish – be careful out there
Stockmarkets

The world’s fund managers are getting very bullish – be careful out there

The latest survey of fund managers shows them to be extremely bullish on all the same things. And that, says John Stepek, means the market is in dange…
21 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021