Although you may be tempted to switch to the cheapest, please be careful.
Some of the new suppliers are very new without much of a track record. Also, there has been a couple of disasters where new suppliers have ceased trading.
If you are happy to take a chance with a new supplier to get the cheapest price then, please don’t let us put you off. For our money, we prefer to play it safe by getting a cheaper online price from one of the more established suppliers.
There are around 70 plus newer suppliers. Most of which, have not built up any kind of track record yet. Some are off to a very poor start, where some have even gone out of business.
Ofgem, are the Governing body for comparison sites. All the comparison sites which are accredited by Ofgem are listed here.
There are many comparison sites out there. You have probably only heard of the ones which advertise on TV. But has your comparison site been accredited by OFGEM?
You may be surprised to learn that, the comparison sites that you are more familiar with, are not actually accredited by OFGEM. This is the Government Office for Gas and Electricity Markets. Many of the comparison sites don’t meet the criteria as set out for the OFGEM accreditation!
If you are going to switch to a cheaper online energy deal, then use one of the Ofgem Accredited sites. They are governed by a strict set of rules which put the consumers needs first!
This is a full list of the Accredited sites
|Comparison Site||Our Ratings||Status||Go There|
|uSwitch||Currently has exclusive deals in many areas for LUMO APP|
|The Energy Shop|
|My Utility Genius|
|Switch Gas & Electric|
It’s not without good reason that I wouldn’t sign up to a new energy supplier . New suppliers hit the market with low prices to attract customers. I’m not saying they won’t get everything right from day one, but here’s something for you to chew on. These are reviews from customers who joined another new energy supplier. New supplier reviews
The choice is yours. Are you tempted by the low price? Or would you rather play it safe and, go with a supplier with more of a track record?