When it comes to taking care of your finances and making sure that you are doing everything that you can to care for your money, you need to review your spending. The first step you should take when trying to improve your finances is review what you current spend at the moment and look to see if any improvements can be made. It is likely that there will be ways in which you can make savings without compromising on quality and in the present day, a lot of people are making a positive change by switching electricity provider.
We all need electricity at home but sadly in recent times, the cost of electricity bills have been rising. The amount of gadgets and electronic devices used in the common home means that more energy is being used but the rise of prices is enough to put a lot of people off. This is why you need to review how much you are spending because you may be able to save money by switching to a different energy provider. You shouldn’t feel as though you need to be loyal to an energy provider, and if there is a more affordable option for you to switch to, this is an option that you should take.
A lot more people are switching energy providers
A recent report suggests that a greater number of people are making a switch and the volume of consumers who have changed electricity suppliers in the past year has risen by 14%. For the 12 months leading to July of 2017, more than three million households change their electricity supplier. This report was undertaken by Energy UK, which is a trade association for the energy industry, and they said that one in five people have signed up to small or medium sized suppliers. This sort of movement may catch people’s attention and it will certainly capture the attention of the major companies in the industry. If a greater volume of people make their move to a smaller firm, it may be that the big companies alone will finally take notice of how unhappy people are with the cost of energy and electricity these days.
For July 2017 alone, a total of 385,000 people switched and this was a 16% increase on the number of people who switched in July of 2016. There is a growing awareness that there is no need to accept high energy bills and that there is a genuine opportunity to switch to a supplier who offers a more attractive option.
There are many energy suppliers to choose from in the UK
The fact that there are now more than 50 energy suppliers in the United Kingdom makes it more likely that people can find a supplier that is right for them. Cost will always be a huge factor when it comes to finding the right supplier but there will also be people looking to find a company that provides them with innovation, with energy efficient services and the right outlook with respect to business. There are many different reasons to consider when choosing a company so if you are looking a decision that is right for you and your household, you need to take steps and find out what is best for your needs.
There are people who will switch from one major company to another, and this is understandable. A lot of people only want to use a big name because they believe this will be safer, more reliable or more secure. There is a peace of mind that comes from choosing a major company and it is likely that many people will go from big name to big name when they move to a different energy supplier. However, the fact that 34% of people who moved did so from a major to mid-tier or small supplier is interesting and this should spark interest and debate in the industry.
Being hit with a large energy bill is annoying, and if it is a one-off, help is available to deal with unexpected bills. However, if you feel that you are paying too much in energy bills every single month, there is a need to take action.
With many different energy suppliers fighting for your attention and money, you should be able to find a more affordable option by looking around. When you want to make changes in your budget, switching energy suppliers is a smart move.
Andrew Reilly is a freelance writer with a focus on news stories and consumer interest articles. He has been writing professionally for 9 years but has been writing for as long as he can care to remember. When Andrew isn’t sat behind a laptop or researching a story, he will be found watching a gig or a game of football.