How to save money on your energy bills when you move home
Moving home can be a stressful time – with fees mounting up for estate agents, conveyancing and removals. To add to that you also have to consider the admin involved and sometimes it can be hard, with everything else going on, to remember what you need to tell your energy suppliers and when.
Here we have put together a handy guide to what you need to let your suppliers know when your moving, and we have added some tips to help you to be smart with your energy costs to help reduce some of the financial pain.
Research has found that the most expensive tariff from a Big Six Supplier could cost an average of £313 more than the cheapest deal on the market.
Chances are that you’ll automatically be put onto a pricier, standard tariff when you move home. Five of the Big Six raised the prices of their standard tariffs this spring.
The firms commonly known as the Big Six are:
So, if you are with one of the Big Six it may be worth shopping round for alternatives to get a better deal – switch energy supplier now.
Another trick you could be missing out on is making your home more energy efficient – by installing insulation and putting in place other energy-saving measures you could save well into the £100’s.
If you’re moving home, it can sometimes be difficult to remember exactly what you need to do, and by when. Here is a short guide to make sure you’re covered for all things energy.
Tell your gas and electricity supplier before you move home
Before you move home, tell your energy supplier(s) the date that you are moving and provide your new address so that they can send you a final bill.
Take a meter reading on the final day in the property and send this to your supplier – most suppliers let you do this online – and keep some proof for yourself. Your energy supplier should then send you a final statement to settle your energy account once you have moved.
If you were renting, make sure your landlord has the same meter readings as you.
Most energy companies let you do everything online. E.ON have recently launched “Sam”, a virtual adviser which makes it “simple and convenient” to share information about your move.
It will help the new occupants if you let them know which energy supplier you were using.
As soon as you move in…
If you don’t know the supplier for your new home then phone:
- Gas – meter number helpline 0870 608 1524
- Electricity – check the Energy Networks Association website to find your local electricity network operator and then contact them, asking for the meter point administration service (MPAS)
- Take gas and electricity meter readings as soon as you get access – this will ensure you only pay for your usage, not the previous tenant. Keep proof.
- Contact the existing energy supplier and give your details and meter readings – they will then set up an account for you.
Now you’ve moved in and set up an account with your supplier, here are some tips on how to reduce your costs:
Switch your tariff
Most energy firms will put you on their standard tariff when you first move in. Don’t be fooled by the name, standard tariffs are usually the more expensive deals. By asking your supplier to put you on their cheapest deal you could save, but you will save more by shopping around.
Comparison sites are a great way to do this, if you have an idea of your typical energy usage. If you don’t know how much you use (in kWh), you can give as many details as you can about your home to make the quotes as accurate as possible.
Make sure that you look for tariffs which have no exit fee or minimum contract length, particularly if you want the flexibility to switch your supplier or tariff again in a few months’ time. It is definitely worth looking to switch again when you know more accurately how much energy you’re using.
When you switch, you do not need to let your current supplier know that you’re switching – your new supplier will tell them for you.
Use your EPC
Check the properties Energy Performance Certificate (EPC). This gives you a good guide on how to make your home more energy efficient, and the more energy efficient the lower your bills. Some common recommendations from an EPC include:
- Installing insulation
- Topping up existing insulation
- Replacing lightbulbs with LEDs
The EPC gives you the estimated costs for making these changes, and also how much you should save over three years.
EPC’s should always be handed over free of charge when you move into a new harm, regardless of whether you are buying or renting.
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