Fuel costs. They seem to go up every single day. Just this morning NPower have announced another 10% increase on fuel tariffs, adding extra pressure to already stretched household budgets. We are not necessarily using more fuel, but we are certainly paying more for it.
But the reality is that, in general, we do not help ourselves when it comes to keeping our bills as low as possible. Research has shown that for the last 2 years 57% of people have been found to be on standard variable tariffs – these are the most expensive tariffs. In addition, it is estimated that only 18% of people switch their energy supplier in order to get a better deal. Why would this be so?
The reality is that it all comes down to time. In order to find a better deal, you need time and effort in order to research what is out there. Even with your current supplier, there may well be a better, more affordable, fixed rate deal that you are not accessing. But, for many people, it just seems easier to stick with what you’ve got. But what if someone else could do the switching for you.
Look after my Bills does just that. You may remember them from Dragon’s Den, when they got the best deal in the history of the programme by selling 3% of the business for £120,000 (you can read about it in this BBC article). Look After My Bills does just that. You can sign up for free, and then each year they email you when they are about to compare the market, then once they find a deal they switch you over automatically (this is so the deal doesn’t vanish) then email all the details over giving you 14 days to review/cancel. Switching will save you at least a £50, certainly making it worth your while to sign up.
On average, Look After My Bills customers are saving anywhere between £250 – £400 per year by switching, and has they now have over 100,000 customers, this is equating to an awful lot of saved money. In addition, their website helps explain energy price caps, meter readings and energy saving light bulbs.
Look After My Bills has realised that having loyalty to a company no longer guarantees you the best possible deal, and that sometimes it really pays to shop around. The positive press they have received from the likes of The Telegraph and The Express, as well as the tabloid press and the BBC shows that there is a real market for this service, which takes the time out of switching.