New Over 50s Energy Comparison Service Launched by Over50choices

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Personal finance comparison site Over50choices launches new energy comparison service helping guide Over 50s through the process of switching energy suppliers with a view to cutting gas and electricity costs.

Switching energy suppliers

Switching was Easy

It amazes me how many people are still not comparing energy suppliers let alone switching to a different company.

There are three ways people can save money on energy bills:

1.    Reduce the amount of energy used. A BBC article on the 16th August, 'Households cut energy use by a quarter', commented that households had cut energy use by a quarter over a six year period

2.    Make home and lifestyle energy saving adjustments.

3.    Shop around for energy suppliers and compare prices

For years, people believed that switching energy supplier was difficult, time consuming and problematic resulting in only the most savvy and hardened savers making the change, but now, with the help of personal finance comparison site Over50choices, consumers are switching on to the fact that changing supplier is straightforward and a good way of saving money; important given rising energy costs.

The comparison site provides clear and straightforward guides on understanding tariffs, how to switch and what to look out for, as well as a comparison service that compares prices of all the residential energy suppliers in the UK.

Their 10 step guide to switching energy suppliers walks visitors through the process, explaining what should happen and what should be expected of both the old and new energy supplier.

Over50choices MD Ashley Shepherd believes it’s important to get the message across that switching is easy and could save millions of people a substantial amount of money. “It amazes me how many people are still not comparing energy suppliers let alone switching to a different company. If you have never switched or spoken to your energy supplier about trying to get a better deal, then there’s a good chance you are paying over the odds for your supply. Reviewing energy costs and making sure you are getting the best from your chosen company is critical, so comparing energy prices should be included in everyone’s yearly financial reviews, along with things like car and home insurance.”

In a similar way to car insurance companies, energy suppliers frequently save the best deals for new customers, leaving loyal existing customers out of pocket; so consumers need to take more of an active role, shopping around for gas and electricity suppliers and comparing prices on a regular basis. It’s also important to understand the tariffs available and any limitations such as exit fees and higher rates, so the work that the consumer champion 'Which?' is doing to improve transparency is key.

In addition to offering information on energy, price comparisons and the chance to switch providers, Over50choices also compares car insurance, travel, pet and home insurance, income protection cover, funeral planning options and health insurance.

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Ashley Shepherd
since: 04/2011
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