Following years of banging on about when it’s time to switch energy provider in a far too enthusiastic way, Money Saving Expert Martin Lewis has now launched the “Cheap Energy Club“, a website which aims to notify you when you could switch energy providers to get a better deal.
Whilst the government dilly-dallies over the details of how it intends to cut gas and electricity costs, this new free tool from MoneySavingExpert.com promises to analyse your current tariff, suggest a cheaper one if there is one, and then will monitor all available deals on a monthly basis.
If there’s a switch which will make you a saving (and you can define what the minimum saving that you’re interested in switching for), the Cheap Energy Club will then help you to switch.
In the first few days since launch, MoneySavingExpert.com state that over 100,000 have signed up to the tool. Which? tried to do a similar thing with their Big Switch campaign last year, which despite some suggestions that it failed to secure the best energy deals, saw over 250,000 sign up, with 38,000 eventually switching to a better deal, with an average saving of £223 per year for those who switched.
The Cheap Energy Club also offers up to £30 cashback when you make a switch, which enhances the deal further, and there’s no cost to join and no obligation to switch, so it seems like a pretty sensible thing to do, if you can put the effort in to enter your current energy consumption details.
The technology behind the tool is provided by MoneySavingExpert.com’s new owner, MoneySupermarket.com.
- Cashback For Switching Bank Accounts (January 4, 2012)
- Join The Which? Big Switch For Cheaper Energy Bills (February 8, 2012)
- Google Shuts PowerMeter Energy Tool (June 27, 2011)
- Gocompare.com Launches Enhanced Current Account Comparison Service (March 26, 2015)
- Loop Energy Saving Kit (March 13, 2013)