Our seventh collective switch
Our Big Switch Event 7 has now finished, with 25,000 snapping up our cheap collective fix.
In our latest Big Switch, we had one deal up for grabs - a one-year fix from Green Star Energy. It was one of the cheapest fixed tariffs on the market, beating most when you factor in Cheap Energy Club cashback.
We’ve heard some great success stories of savings you’ve made by switching to our collective deal…
As Vicky told us: “Saved £800/yr. Thank you.”
And Gareth tweeted: “Just saved £368/yr in the big energy switch.”
Although the collective tariff is no longer available, many can still save £100s a year by switching to the cheapest deals. Do a comparison now to see if you could save.
How does the Collective Switch work?
A collective switch's where energy firms bid to offer you special tariffs via a trusted go-between (eg, us!). In our previous six switches, a staggering 500,000 have collectively saved millions on their annual bills - bagging tariffs that have always been super-cheap.
Due to the energy regulator Ofgem's rules, to be eligible for this collective switch, you have to be either a member of our Cheap Energy Club or get our weekly email. You can check if you're registered above.
Once you are registered, and our collective tariffs become available, you should see them alongside others on offer from the rest of the market, so you can check what's the best deal for you.
Are the collective tariffs always cheapest?
Mostly they have been, but not always. In our Big Switch Event 6, we couldn’t beat the cheapest, but in our other collective switches we have.
It also depends on where you live and your usage - prices can vary by region and between low, medium and high use. To make sure you get the cheapest tariff for you, we can do a comparison of the collective deal with all other tariffs on the market when you log in to Cheap Energy Club during the collective.
Remember to give regular meter readings as well, otherwise your bills could be estimated and much higher than they should be.
How does Cheap Energy Club work?
There is no single cheapest energy deal - prices depend on where you live and how much energy you use. If you give us your details, we'll search the whole market to find the cheapest gas and electricity deal for you.
But the energy market moves quick. So you don't miss out on a top deal, or if your tariff becomes pricier, we'll monitor other tariffs using the details you gave us and let you know when a cheaper one comes along. If you can't be bothered to switch for £20 savings, no problem - you can let us know what you would switch for, and we won't tell you until you can save that amount.
If we can switch you, suppliers pay us a referral fee of £60 per dual-fuel switch (£30 single fuel). To encourage switching, we give you half - £30 if you switch gas and electric, £15 for single fuel.
How does energy switching work?
Don't worry too much about switching - only customer service, billing and, most importantly, prices change. The pipes, circuits, wires and actual gas and electricity flowing through your home are all the same.
The new supplier performs the switch, and all you do is take a meter reading. There have been switching horror stories and sadly, these still happen. But for most, it's a smooth process. We'll email you every step of the way so you know what's happening.
You'll get an email when you've applied for a switch and an email when that switch has been accepted by the supplier (in a small number of cases, the supplier can reject you).
How do I sign up for the collective switch?
To take part in MSE's collective switches, you'll have to be either a member of our Cheap Energy Club or get our weekly email.
Though once you join Cheap Energy Club or subscribe to our email, you're under no obligation to switch. If you want to go with the collective tariff, great - select it in Cheap Energy Club when it becomes available and get your switch on.
I’m locked into a fix should I switch again?
It depends. Do a comparison and check to see how much you could save. Factor in exit fees and if you're still saving enough, it may be worth switching.
If you're already with a winning supplier, you shouldn't be charged exit fees on your current tariff - so even if you're locked into a fixed deal, you can grab our collective tariff penalty-free.
Why should I switch via Cheap Energy Club?
We take the hard work out of switching. All you need to do is sign up, tell us what your current energy tariff is and we'll tell you if you're overpaying. If you do switch, we'll then monitor other tariffs and email you if you can save again.
And, if you switch through Cheap Energy Club, we'll pay you cashback. We give £30 for dual-fuel switches and £15 for single fuel.
How long does it take to switch energy supplier?
Energy suppliers have a cooling-off period of 14 days, which starts from the date you submit your switch, so no action is taken until this period is over. The switch process can take up to four to six weeks to complete, depending on supplier, although some will now switch you more quickly.
But don't worry, you won't lose your supply during this time. It should be a seamless handover from one provider to another. All that's really changing is the billing, not the actual gas and electricity you're supplied.
Energy suppliers are supposed to keep you updated on your switch (via letter/telephone/email - please keep an eye on your junk/spam folder). If you ever have any queries about your switch, you can always contact your energy supplier for an update.