Have you ever wondered how to determine the right time to switch gas and electricity suppliers? Finding the right time may look like an impossible task, but the truth is that there are a limited number of factors in play. The three things you should follow are the season, the market and the length of your contract.
When you are nearing the end of your contract with your current supplier -it is time for a change. This is a period when you can leave a supplier without paying any penalties, so a switch is just common sense. If your current supplier does not offer any loyalty discounts or bonuses, it all comes down to simple mathematics.
Keep in mind that suppliers can change your tariff to their default one if your contract has already expired. This default tariff is usually not favorable, so you do not want to be stuck with it even for a day. Those who use the Luminext services never encounter this problem, as our team keeps a close eye on your contract expiration date.
Users usually react to price drops, but it is even more important to react when the prices are expected to rise. If a large price increase is expected on the energy market, seek refuge in a long fixed rate contract. This tariff might slightly increase your bill at first, but it also ensures that your bill will not escalate to a point where you cannot cover it.
The rates of the fixed tariffs will rise with the energy market price, so it is important to switch gas and electricity suppliers fast. Choose the best offer and tailor the length of the contract to completely avoid the high price period. If your contract ends before prices return to normal, you will find yourself at a disadvantage.
Another good time for a switch is when winter starts approaching. Gas and electricity usage is at its highest during the winter, so there is a lot of money to be saved. Find the energy bills from the previous winter and use them to anticipate your consumption for the following period. Check all tariff options available on the market and find the one that saves you the most money. This is also a good time to negotiate delayed payment plans and distribute the winter energy expenses throughout the whole year.
Winter is unavoidable so start planning for it at the end of the summer or at the beginning of autumn. In the colder regions, autumn is also a period when energy bills are higher than usual, so you may save additional money by switching gas and electricity suppliers earlier. Considering an earlier switch also prevents you from making a rushed decision. If the tariffs currently offered on the market cannot make big improvements on your monthly bill, you can wait a while and see how things develop.
Our Luminext consultants can always determine the best time to switch gas and electricity suppliers. Moreover, we are capable of getting you the best rates at any given time. Give us a call and let us examine your current contract. We can advise you on the right time to switch and we can provide you with a rough estimate on how much money you can save with our help.