It certainly seems to be that way these days. There is no end of new suppliers wanting a piece of the pie. But, are all these new suppliers able to deliver the service and, can they sustain their business model?
It’s a sad fact, that some of them are just not able to carry out their promises to their customers. Whilst many may go on without too many problems, there are a few who are just not cutting it!
GB Energy opened the floodgates when they became the first energy supplier to go out of business in November 2016.
There will be more of course. New suppliers don’t have the same buying powers as the bigger established suppliers. Once they start to realise there are many more costs involved in running an energy company, they will see their profits starting to plummet.
When you get quotes through an energy comparison site, you will see suppliers they can switch you to and, suppliers who don’t offer a switching service through the comparison sites. In many cases, you will need to switch to the cheapest supplier through their own website. Whilst this may look good as far as the lowest price is concerned, it tells us the supplier is working within very tight margins. In other words, they don’t want to pay the comparison site any commission!
It doesn’t have to be. It’s your money, it’s your choice who you switch to. You never know, if you choose a new supplier, you just may be lucky enough to not have any problems.
Here’s a couple of new suppliers that have been around longer than the more recent ones. They have been around long enough now to receive plenty of customer feedback.
Like we mentioned before, it’s your money, it’s your choice. Okay, you can save more by switching to a new supplier. But for our money, we prefer to play it safe by going with one of the more established suppliers. You can still make a good saving by switching to one of the cheaper online tariffs. Just make sure you get a fixed price deal!
OFGEM are the governing body for the energy markets. Choose an OFGEM Accredited Comparison Site. They follow a strict set of rules which put the consumer first.
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