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Key Guide

Switching Energy Suppliers: A Simple How-To Guide

• Switching is administrative only — supply is never interrupted • Most switches complete in around five working days (after cooling-off) • You have a 14-day cooling-off period • Exit fees may apply on fixed tariffs • You can switch penalty-free within 49 days of contract end • Smart meters usually remain fully functional • Final bills must be issued within six weeks

28 May 2026
Key Guide

Understanding Your Energy Bill

• Bills are calculated using kWh usage • Unit rate × consumption = usage cost • Standing charge applies daily • VAT is 5% for domestic supply • Direct debit smooths seasonal variation

28 May 2026
Key Guide

Energy Price Cap Explained

• The cap limits unit rates and standing charges • It applies to standard variable tariffs • It is updated quarterly • It reflects wholesale and network costs • It does not cap total household bills

28 May 2026
Key Guide

Fixed vs Variable Tariffs Explained

• Fixed tariffs lock your unit rate for a set period • Variable tariffs can rise or fall with market changes • The Energy Price Cap limits most standard variable tariffs • Fixed tariffs often include exit fees • The best choice depends on risk tolerance and market conditions

28 May 2026
Key Guide

What Affects Energy Prices?

• Wholesale gas prices heavily influence UK electricity prices • Global events directly impact UK household bills • Suppliers hedge energy in advance to manage risk • Network and policy costs form a significant share of bills • Weather and demand volatility can shift prices rapidly • The Energy Price Cap limits retail pricing but does not control wholesale markets

28 May 2026
Key Guide

Understanding Smart Meters

• Smart meters send readings automatically • Bills are based on actual usage • They do not automatically reduce bills • You can decline installation • Data privacy is regulated

28 May 2026