Can smart switching reduce my energy bills?
First of all what exactly is smart switching?
We often hear the term ‘smart’ attached to new technology and sometimes used as an added touch of jargon, but what does ‘smart’ have to do with switching? Smart switching is a brand new service that operates directly through an app on your mobile phone or tablet, a handful of companies also accommodate an application for a desktop computer. The concept behind the service is that by allowing the app to monitor your properties energy consumption it can immediately pinpoint the most cost effective energy tariff on the market based on your consumption habits. The idea is that it will remove the challenging perception of switching energy suppliers to the 17 million UK households which refrain from switching despite the generous savings available.
Automatic switching
A lot of us have busy lifestyles and the hassle and fuss involved in switching is evidently a daunting and laborious process which is why less than 15% of properties switched energy supplier last year. The UK energy market has opened up over the last couple of years with most companies offering alluring low priced offers for new customers. Companies usually do this to entice you in the hope that you probably won’t be bothered to switch for awhile, why would you when you are on the best deal? Of course once the competitive deal has expired many energy suppliers revert you onto the notoriously expensive standard variable tariff which can cost you more than £320 annually.
For this reason there are now several emerging apps and services that can not only take care of the laborious task of comparing tariffs but will also automatically switch suppliers on behalf of the customer. All that is required is that your consumption data is extracted from your online user account, following this the app will locate the best available deal together with sending you an email informing you who your new supplier is and information on the deal. The system is designed to consistently study users accounts, if superior deals present themselves then the app will switch your supplier automatically.
Should I trust smart switching?
The energy market hasn’t exactly built up a fantastic reputation for it’s service so why should smart switching be any different? The energy sector is notorious for mismanaging accounts, over charging it’s customers and has even been reported to have some influence in comparison sites. This is down to the ‘handsome commission’ they present comparison sites with. These reports haven’t gone undetected with many newspapers informing customers of the matter. Recently developing apps such as Flipper are endeavouring to gain control of switching through removing the complex and painstaking process to an automated one have adapted this into their transparency policy. For this reason some apps will not take any commission from energy suppliers however they will instead charge an annual fee of around £20, this is to reassure customers that no energy company can persuade them towards any underhanded practices.
In essence no matter if energy suppliers are providing a comparison site with further commission than others if the final price isn’t competitive enough against other companies offering them less commission then they are not going to acquire the customers. At My Electric Radiators we consistently inform our customers to undertake a electric comparison search to ensure they are paying the best prices for their energy. While the new automated process of switching sounds attractive it is also important you you undertake your own independent searches, however for the mass UK market this service appears to tick all the boxes for the 15 million households than don’t bother to change frequently. If you are using electric central heating then you will benefit from frequent switching especially around the winter period.