Our Cheap Energy Club is designed to keep you constantly on the cheapest tariff – fighting the fact most cheap deals only last one to two years before their rates rise. It does this by...
1-Finding you the cheapest deal. If you're already on it, great. If not, it'll help you switch. You usually get £25 cashback on top for a dual-fuel switch or £12.50 cashback for switching just gas or electricity.
2-Then monitoring your tariff constantly. Each month, without you doing anything, we do a background comparison to check yours is still cheapest.
3-Alerting you when it's time to switch (again). If you can save money switching either because your rate's changed, or others have, we'll tell you.
We've been swamped with positive feedback, such as:
Got to say thanks. I'll be saving a whopping £800 per year on my dual-fuel bill after using your Cheap Energy Club. Was hoping for £300 so this is amazing (a tad annoyed with myself that I didn't do it sooner!)
Consider myself money-savvy, but just done your energy supplier swap and saved £548 a year.
@MartinSLewis saved me £552/year + £30 cashback – my first switch in 15 years!
Cheap Energy Club also let you filter which tariffs will be eligible for the Warm Home Discount. This is a Government discount of £140 you can get during winter – if you qualify. It also shows which tariffs are made of 100% renewable electricity.
And finally, in the past our alert emails went just to the person who registered, but lots of you said you wanted somebody else copied in, so we've added that function too. Do it when you register, or add them to the account details page if you're already a member.
Try it, and let us know what you think at energyclub@moneysavingexpert.com
Comparison sites don't always show all tariffs by default
It's also possible to get cashback for switching from comparison sites. Bear in mind though that some comparison sites by default only show you tariffs you can switch to via them (ie, where they're paid commission). This filters out some results – Cheap Energy Club shows you ALL those available by default.
If you do use a comparison site always make sure you've selected the option to show all available tariffs to get the full picture before making a decision.
What about automatic switching?
There are a number of auto-switching companies – such as Flipper, Labrador, Lookaftermybills and Weflip – which promise to continuously switch you to cheap deals, without you having to do anything.
These services use computer algorithms to constantly track and identify potential savings based on your energy use, meter type and current tariff.
When you can save a certain amount – usually factoring in any exit fees on your current deal – they will automatically switch you.
Most are free to use, though Flipper charges an annual subscription – which you only pay if you can save by switching.
Automatic switching is something we've been looking at and lobbying regulators about for a couple of years now, and we hope to offer it ourselves some point soon.

No comments:
Post a Comment