How you can cut hundreds of pounds off energy bills in seconds

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How you can cut hundreds of pounds off energy bills in seconds

Martin Lewis unveiled a new tool that can cut energy costs by hundreds of pounds in seconds.

This week MoneySavingExpert.com is rolling out its MSE autoswitch.

It is the first tool to automatically compare and switch energy.

MSE Autoswitch is expected to shake up the entire energy market and ensure that suppliers don’t rely on people to switch after their cheap deals have ended.

Autoswitch is a tool if you just want to stick to a cheap energy tariff with no problems and don’t really want to think about it.

Many people find it difficult to choose the right tariff – and they can even put them off completely.

MSE Autoswitch is the first UK service to address this issue.

While automatic switching itself isn’t new, some smaller, existing services tend to all switch to the same provider at the same time – a mass switch to tariffs that are rarely anywhere near the best or cheapest on the market and are chosen from a limited number of providers ( or they charge a fee), reports the Liverpool ECHO.

MSE’s new tool works very differently. Rather than switching people enrolled in bulk, it effectively automates, speeds up, and simplifies the custom comparison process that most people should be doing for themselves.

You tell him your energy preferences, the “Pick Me A Tariff” tool selects your top offer based on these and then notifies you every year of the new top tariff that corresponds to these preferences and allows you to do so with just one click change him.

With your preferences, a universe of tariffs is narrowed down to your personalized top offers.

This is how it works:

  • Step 1: Tell me about your energy costs. Let your current energy provider know, consume where you live, how you pay and whether it is dual fuel or electricity only.
  • Step 2: choose your settings. You will receive 21 preference points, which you can easily divide into six different categories, whereby the things that are most important to you receive the most points. The categories are price, customer service, green energy, fixed price, a well-known supplier, no early withdrawal fees.
  • Step 3: Your top tariff will then be selected from the entire market. MSE then takes your preferences and uses an algorithm to select your winner from across the market – including vendors it doesn’t work with or you can’t switch to. It also shows you the next two matches that match your preferences.
  • If the top pick is from one of the few suppliers that MSE cannot switch you to, it will still show up as a top offer. It just means that MSE will not be able to automatically switch you next year (unless you rejoin then).
  • Step 4: On the anniversary of your switch, you will receive an email with your next plan. When it’s time to switch again (either after a year or later if you have a longer fix), MSE will contact you with the new top offer based on your preferences. All you have to do is click to confirm that you are happy and your details have not changed. You will then be switched to the new provider.
  • MSE will further reduce your bill with £ 25 cashback if you don’t go direct. The only autoswitch services (there are no other auto-compare-and-switch services) available in the entire market charge a fee. MSE is free to use. If you switch through the tool and MSE gets paid (like other sites) you get roughly half the cashback back – £ 25 for dual fuel switches and £ 12.50 for single switches. Fuel.

So you get the same tariff as if you had switched directly with the supplier, and the cashback on it makes it cheaper. The rest of the fee pays off for the tool, team, and research and operational resources to keep it up and running – and hopefully make a profit too. Win win.

Martin Lewis, Founder of MoneySavingExpert.com, said, “For years on TV, radio and in print, I’ve yelled, berated, scolded and tried to get the 11 million people sitting on the standard tariffs of the six major utilities seduce dig, switch and save to keep them from wasting 100 pounds a year.

“On my TV road shows, when I teach people how to switch energy, a constant refrain is, ‘Can’t you just do it for me?’

“I developed this automatic compare and switch system years ago, and while it has been around for a long time, I am so excited that we have now developed such a smooth and smart tool that makes it easy to switch.

“The big problem people have is not comparing, it’s choosing a winner. Many have been burned in the past by switching to cheap, poorly-serviced tiddler companies and vowing never to do it again.”

“So it’s not just about automatically switching people to a generic, cheap deal like others have tried. It’s about automatically switching people to their personal top pick, and if you do that from the whole market means these are the results. ” will likely be a lot cheaper too.

“I hope this triggers an energy transition. Most energy companies introduce cheap prices for a year based on the idea that once people move on to the higher price, people will stay with them for at least another year.

“Our system defeats this model, and if millions of people adopt this model, energy companies may have to be forced to change their pricing structures. Therefore, in the future, we will be asking providers to offer special lower-priced ‘deductible tariffs’ in order to retain their own customers.”

Autoswitch is a tool if you just want to stick to a cheap energy tariff with no problems and don’t really want to think about it.

However, it is not for everyone, so you can continue to use other comparison options across MSE Energy’s entire market.

  • DIY comparison. Best if you know what you are doing, the type of person who is always up to date on energy deals and may want to switch more than once a year.
  • Choose a tariff for me. Best when you want MSE to help select a winner based on your preferences but don’t want to be toggled automatically. All you have to do is come back when it’s time to switch back.

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