For a long time the gas & electricity market has been dominated by the so-called ‘Big 6’ energy firms, leaving consumers with a limited number of options when it came to choosing a supplier. Today, there are over 40 energy providers including many smaller – or ‘independent’ – companies who can offer very competitive prices.
But despite the fact they are considerably cheaper, many people are nervous about switching to a lesser-known supplier – but should you be?
What is an independent energy supplier?
Basically, any company that isn’t one of the Big 6 – British Gas, EDF Energy, E.ON, npower, Scottish Power or SSE– is considered as a ‘small’ or ‘independent’ energy company.
Back in 2014, the energy regulator Ofgem announced plans to open up the electricity market and encourage healthier competition between suppliers. These plans included several proposals that would “level the playing field” and make it easier for independent firms to compete with the big boys – such as greater transparency when it comes to wholesale energy prices.
As a result, dozens of new suppliers entered the market, offering lower prices thanks to smaller overheads and freedom from some of the government obligations placed on the Big 6. Eversmart Energy was one of these companies – offering competitive pricing and refreshingly modern customer service through text and social media. We started supplying in 2016, and two years later we’re still going strong and still proudly independent!
Is it safe to switch to a small supplier?
A recent survey from Citizens Advice revealed that 1 in 3 people don’t feel confident switching energy suppliers. Another study from Money Saving Expert asked people what puts them off from switching – the number one answer was being unsure about using an unfamiliar firm.
Money Saving Expert noted on their blog: “While our poll shows many are wary of smaller suppliers, and feedback on new small suppliers is often limited, previous MSE polls suggest some smaller firms can actually offer a better customer experience than their big-name counterparts.”
Ofgem have also attempted to ease concerns about the stability of some smaller suppliers. If an energy company ceases trading, regulations are in place to make sure you are transferred smoothly over to a new supplier.
Whenever you switch energy suppliers, there’s very little hassle and no interruption to your supply. If you do decide to switch to an independent, you could save up to £300 a year!
How do independent companies keep their prices so low?
Eversmart Energy offer a free Smart Meter to every customer – this allows us to reduce operational costs and pass the savings on to you. Like many independents, we’re smaller and more flexible than some of our bigger competitors, with fewer overheads and lower operational costs.
We also understand that people’s lifestyles are changing, along with the way they like to communicate. If you don’t have the time to speak to us over the phone, we’re happy to communicate via text, social media or Facebook messenger – whatever works for you! We like to think we do things the smart way.
How do I make the switch?
Switching energy suppliers is quick, simple and hassle-free. You can get a quote and find out how much you could save here.