How does energy comparison and switching work?

Monva can help you compare and switch your energy supplier in just a few minutes. Routinely switching your energy deal every 12 months is the best way to guarantee you aren't overpaying for your energy.

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How does energy comparison work?

Comparing your energy is easy and it only takes a matter of minutes.

When comparing energy through Monva, you’ll provide important information such as your postcode, your current provider and usage (if you’re unsure we do provide you with an estimate) to our ChatBot, Mo.

Mo will then use this information to complete a search. Mo will highlight key tariff features in your search too, as well as estimate your savings, and your annual and monthly bill values.

When estimating your savings if we know your current tariff is due to end in the next few weeks, we’ll show how much you’ll save compared to your current supplier’s default tariff. This is because this is the tariff you’ll be moved onto once your current deal ends.

Why do you have to provide a postcode to compare energy?

We ask for your postcode because energy prices are different by region. In the UK there are 14 electricity distribution networks and 8 distribution networks for gas. Each network charges a different amount to the companies that use them.

Choosing your next energy tariff

There are over 50 energy suppliers in the UK and even more tariffs. However, choosing your next energy tariff doesn’t have to be difficult.

Searching through Monva is quick and easy. Simply answer a few questions from our ChatBot Mo and we’ll do the hard work for you.

Things you might want to consider when choosing your next tariff are:

  • Do you want a green energy tariff?

  • Are you just looking for the cheapest energy deal?

Compare Gas & Electric

How does energy switching work?

Once Monva has helped you find the right energy deal, switching is easy. When you click apply, you’ll simply need to provide a few more details for your new energy supplier.

They’ll inform your current supplier so there’s no need to do anything except wait for them to get in touch. To make sure you’re not charged twice, it’s best to get a meter reading on the day of your switch to provide to your new supplier.

Once your switch has been completed, your old supplier will send you your final bill. Depending on how you pay for your energy you might even find that your old supplier owes you money.

Will switching disrupt your energy supply?

No! When you switch your energy supplier, the only thing that changes if the company that bills you for your gas and electric and the rate you’re charged. Your gas and electric supply will be the same as before so there’s no disruption.

In fact, unless you’re having a smart meter installed as part of your new tariff, there’s no need for anyone to visit your home to complete the switch.

How long does it take to switch energy supplier?

Switching your energy shouldn’t take any more than 21 days.

From the date your new supplier receives your completed application, your switch should take no more than 21 days to complete. If you’re switched both gas and electric, you might find the switches complete on different days, but your supply will not be disrupted at any point.

Will your new energy supplier contact you?

Your new supplier should send you a letter and a welcome pack within a few days of switching. This will contain your agreement and the details of your new tariff.

Your new supplier will request meter readings from you on the day of your switch. It’s important to provide these as they’ll give them to your old supplier for them to calculate your final bill.

What if you change your mind about your energy switch?

There is a 14 day cooling-off period from when you submit your application should you change your mind.

If you decide you no longer want to proceed with the switch, you’ll need to contact your new supplier and let them know. They’ll be able to cancel the switch and there won’t be a disruption to your energy supply.

How often can you switch energy suppliers?

You can switch your energy supplier as frequently as you like.

Best practice would be to switch your energy tariff when your current fixed rate deal is due to end. This is because once your fixed-rate deal comes to an end you’ll be moved onto your supplier’s default tariff, typically, these are their most expensive energy tariffs.

And once you’ve switched with Monva once, it’s even easier to switch the next time. This is because we securely store the information required not only to complete a search but to complete your switch. Meaning you can switch your energy with just one click.

Is there a penalty for switching energy suppliers?

Depending on the type of tariff you’re on you may not have to pay an exit fee. Standard variable rate tariffs don’t have exit fees so you’re free to switch whenever you want.

If you’re on a fixed rate tariff, you don’t have to pay exit fees if it’s due to end within the next 49 days. However, if you want to switch before that window you may be charged an exit fee per fuel. Exit fees can be as much as £30 per fuel.

Things to be aware of you before you switch

If you’ve never switched energy supplier before we’ve listed a few things to be aware of to help you make the right decision for you.

Exit fees

Fixed-rate energy tariffs typically have exit fees. Normally, an exit fee is £25-£30 per fuel and if you switch away from your fixed rate tariff after the cooling-off period and before the switching window (49 days before the end of your contract), you’ll be charged an exit fee.

Warm Home Discount

If you’re considering switching energy and you currently benefit from the Warm Home Discount, you need to check you won’t lose that with your new supplier.

When you compare energy through Monva, it’s easy to identify if the supplier and tariff you’re looking at is part of the Warm Home Discount scheme, simply click “More Details” under the tariff you’re looking at.

Smart meters

For some tariffs, the installation of a smart meter might be mandatory.

Alternatively, if you have a smart meter installed already you might find depending on which generation you have that it’ll lose its smart functionality after you’ve switched.

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Tags: Energy