Jul 17, 2017 - 4min read
There are many reasons why energy consumers are reluctant, fearful or skeptical of switching energy providers. Thankfully, the vast majority are unfounded.
The Competition and Markets Authority reports that 70% of consumers are signed up to the most expensive default tariffs available, collectively paying more than £1.7bn over the odds for their energy.
Many large energy suppliers benefit from this mass inertia, relying on their customers to remain unquestioning and locked in a frame of mind that makes them apprehensive about switching suppliers. The reality is very different though; it actually requires remarkably little effort and time to switch to a significantly cheaper energy supplier.
Here are five of the most common reasons people give for not wanting to make a switch, and five explanations outlining why you needn’t worry about them.
I haven’t got time.
Have you got a spare 2 minutes? That’s how long our online sign-up process takes and – after that – we take care of absolutely everything, to ensure a hassle-free switchover.
I’m better off sticking with my current supplier.
As stated above, 70% of consumers are actually signed up to their long term supplier’s standard variable rate tariff (SVT) and paying a significant premium for the pleasure. As a result, it’s highly likely that you will save a substantial sum of money by switching suppliers. And given that it only takes a few minutes to find out, there really is nothing to lose.
According to data accurate as of January 7th 2017, our customers have been saving an average of £353 by switching to Tonik – so they definitely wouldn’t have been better off staying with their previous suppliers. Click here and see what you can save.
All energy suppliers are the same.
There are now approximately 50 energy suppliers to choose from – far more than the handful of big suppliers that dominate the market.
For our part, you will find dealing with us to be a very different experience to dealing with a huge corporation. We pride ourselves on offering our members the dedicated level of service they deserve (we currently hold a 9 out of 10 rating on leading review site Trustpilot), and our member services team are on hand to rapidly resolve any potential issues via webchat, phone, email and social media. Furthermore, Tonik members can manage their accounts at any time using the slick and informative Tonik Space online portal.
It’s also worth noting that we are one of very few suppliers to offer 100% renewable electricity and we will soon be offering green gas. We are also the only supplier aiming to halve your energy bills by 2022.
Something is bound to go wrong.
Far from it. All energy suppliers are connected to the same network (the National Grid), so there is absolutely no danger of your service being interrupted and you getting left in the dark.
We manage the switch and will contact your previous supplier to make sure your account is handed over smoothly and on time. And as a signatory of the Energy Switch Guarantee we have made a promise to complete your switchover within 21 days – which is far quicker than most other providers.
It will cost me money.
Switching costs nothing (unless your previous supplier imposes an exit fee, typically £30. We don’t charge exit fees by the way). If you’re within the last 42 days of your current tariff ending, your supplier can’t charge you an exit fee.
As well as there being no cost for switching to Tonik, you are actually able to make money with our 3% interest on credit reward.
That’s 3% you get back when your account is in credit – a better interest rate than you’ll find with most banks. The interest is paid on a maximum of £1000 per year and is applied to your account monthly.