How to save £268 a year through Switchcraft
MILLIONS of UK households are overpaying for their energy, even though switching providers could save an average of £268 every year.
There are 11 million households paying too much for their gas and electricity with a standard variable tariff from one of the big six energy companies.
But while switching energy companies is the easiest way to cut your bills, not enough of us are doing it - and the savings really add up.
Those with an average consumption with a standard variable tariff from British Gas, for example, pay £1,177 per year. But the cheapest deals on the market are nearer to £830.
The cost of the cheapest tariffs is set for a fixed time period, of usually 12 months.
This means every year you need to remember to switch again. If not, you will be rolled onto the provider’s expensive standard tariff and many people are put off by this extra admin.
One way to easily switch for free, and to make sure you never end up on your provider’s standard tariff is to use Switchcraft. It is an energy service set up to automatically switch households onto the cheapest energy deal available for them.
Sarah Jarvis, 51, from Hertfordshire switched last year and saved £304. The purchasing manager said: “It’s nice to have a bit more money in your pot at the end of the month just in case.
"It’s one of those things where I keep meaning to switch suppliers but put it off.”
The idea behind is to tackle the reasons people aren't switching. It also pays out a £20 referral fee if you get a friend to sign up and switch. Here we explain exactly how it works.
How does Switchcraft work?
The service continually searches for cheaper tariffs, and automatically switches you.
It takes away the hassle of switching for those who don’t have the time to find a tariff or to remember to switch, and is saving users an average of £268 every year.
It doesn’t just switch customers once - it continues to search for cheaper deals and moves you.
You’ll be switched on average once a year, before a fixed-rate deal ends. While there may be exit fees on the tariff, it is possible to switch 49 days before the end of the contract so you should not have to pay these.
How much can I save?
On average households with Switchcraft are saving £268 every year.
It will give you a predicted amount you will save over the next year. This assumes you stay on the tariff Switchcraft is moving you to and is compared to the amount you are currently paying.
Where do I sign up?
You can sign up to Switchcraft on the . It takes just three minutes and if you want to cancel for any reason, it’s quick, free, and easy to do so.
To sign up you will need to enter details about your household including your full address, the energy firm you’re currently paying, and your energy usage (this can be estimated if you don’t know it).
How can I get a £20 bonus?
When you sign up to Switchcraft you will be given a referral link to give to your friends.
If they sign up using your link and then successfully switch energy providers, you will both be sent £20.
The person using your link needs to be a new member and can’t have already signed up to Switchcraft previously. They’ll need to give your full name and email address, be over 18, and live in the UK (unfortunately Northern Ireland isn’t included yet).
How to save £268 on your energy bills (Sponsored)
AVOID energy price rises this winter with Switchcraft.
Why is it important to switch suppliers regularly?
Energy suppliers save the best deals to attract new customers, while moving existing customers to higher rates.
Switchcraft lets you know every time you can save money by switching.
- in 3 minutes and get instant energy quotes.
- Let find you better deals every year, saving you time and money.
- Get £5 free cashback or an Amazon voucher* when you between 9 December 2019 and 2 March 2020.
The £5 will be paid into your bank account within 120 days of completing the switch. *Prepayment meter customers will receive a £5 Amazon voucher. Open to those 18 and over. UK residents only. Click here for full T&Cs. News Group Newspapers Limited has a brand partnership with Switchcraft.
Switchcraft will email you once to let you know your friend has signed up, and again when they’ve switched suppliers. The cash can take up to 90 days after this switch has happened.
The money will be sent direct to your bank account. For pre-payment customers an Amazon voucher will emailed unless they contact Switchcraft with their bank details.
There is no limit to the number of people who can use your specific referral link - and for everyone you will get £20 (if all the terms and conditions have been followed correctly).
You can keep track of how many people are signing up with your link - and how much money you’re likely to receive - in your customer area on the website..
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