Over the past few years, switching energy supplier was becoming an increasingly difficult task. There were so many different tariffs available that it was tough to see what the best deal was for you.
Combine this with the rapidly and haphazard increases in gas and electricity prices, and the logistical difficulties of actually swapping providers, and finding a better deal just wasn’t worth the hassle.
Fortunately, Ofgem (The Office of Gas and Electricity Markets), an independent body in the UK, are out to make these problems a thing of the past. Their new website will help you find a better energy deal.
What Ofgem stand for
Ofgem are a non-ministerial government department and an independent National Regulatory Authority, recognised by EU Directives. Their principal objective is to protect the interests of existing and future electricity and gas consumers. They do this in a variety of ways including:
- promoting value for money;
- promoting security of supply and sustainability, for present and future generations of consumers, domestic and industrial users;
- the supervision and development of markets and competition; and
- regulation and the delivery of Government schemes.
For more information on what Ofgem does, see the site below.
How can Ofgem help you find a better energy deal?
As the above video shows, Ofgem have recently launched a new website that will help you switch and shows how to compare prices. The website also has a list of Ofgem approved price comparison websites.
Related site: Go Energy Shopping
This site works in three easy steps:
- It helps you determine how much energy you are currently using and what you are paying for it
- It provides a list of Ofgem approved price comparison sites to allow you to compare all energy tariffs from UK registered suppliers and show you how much you can be saving
- It walks you through, step-by-step, the actions you need to take to switch tariff or energy supplier
It also provides you with a free downloadable guide to help you through the process:
Related Article: Go Energy Shopping Guide
How much could you save if you find a better energy deal?
After rent/mortgage and council tax, energy bills are usually one of the most substantial regular expenses you’ll see in your budget. However, especially for renters, it is one of the least addressed areas of expenditure.
Ofgem estimate that you could be saving up to £200 a year by changing energy supplier, but three quarters of households never do.
Given that the switching process can usually be done in under an hour, that’s not a bad hourly wage is it?? 😉