A move to a new home could be more expensive than you think if you’re not proactive in setting up a new energy plan. Here’s what you need to know!
How To Set Up Your Energy Once You Have Moved Home
When you need to move your luggage to a new location, we want to help you to do so in the fastest and most cost-effective way possible. But if you’re moving to a new home, this isn’t the only way in which you can save money. If you’re moving to the UK from abroad, you’ve probably already seen how the international energy market crisis has affected the national market. Over 20 suppliers have gone out of business this year alone, and energy prices continue to climb in light of a 250% increase in wholesale gas prices.
When you move into a new home, you’re at risk of spending more than you should on energy. Even considering the difficulties of the current market. Here, we’ll look at how to set up an energy plan for your new home and save money.
Why is it so important to set up energy in a new home?
As the energy experts at Switch-Plan will tell you, you spend more on energy when you first move into a new home. This is because you’re automatically placed on what’s known as a ‘deemed contract’ with whatever supplier the previous occupant used. Under this contract, you’ll be placed on their standard variable tariff, which is usually their most expensive.
Every day you spend on this tariff makes your energy costs higher than they need to be. Here’s how to here set something better up for your new home.
Calculate your usage
Before you start comparing energy plans for your new home, you should first calculate your current usage. This can be annually or monthly, in monetary terms or in kWh (in both cases, the latter is more accurate). This will ensure that any quotes you receive accurately reflect your usage. After all, there’s no point switching energy plans if you’re going to have a nasty surprise during your billing cycle.
Research energy plans in your new area
When you have your new address, postcode and a good idea of your usage, you have what you need to start comparing energy prices. You can’t switch until after you’ve moved in, but it’s a good idea to start looking ASAP to see what you can save.
If your landlord, letting agent or previous occupant is unable to tell you who currently supplies energy to the property, contact your local Meter Point Administration Service. They will be able to tell you who supplies energy to the property.
Decide on fixed-rate or variable
Energy plans fall into two categories. Fixed and variable rate. In this tricky market, you may be unsure which is the best choice for you. The truth is that both have their benefits and caveats. Energy prices are at an all-time high and there’s every chance they could rise further. As such, you may want to choose a fixed-rate plan to lock in your prices for the next 12-24 months. On the other hand, you may decide that you want to keep your options open and choose a variable plan until the market stabilises.
Get your new supplier to install a smart meter
Whichever energy plan you choose, you’ll want to ask your new supplier to install a smart meter. This will ensure that you’re billed fairly and accurately with no money wasted on estimated bills. You’ll also be able to see the effects of any energy-saving measures you implement around the home in real-time.