Winter is coming and with many people still working from home you will start to see your energy use rise.
Thankfully, money saving expert Martin Lewis is on hand with a brand new tool which could help slash your energy bills in seconds.
This week, MoneySavingExpert.com is rolling out its MSE Autoswitch.
A first of its kind, it will allow customers to automatically compare energy tariffs and tell you which is the best for your tailored needs.
It will even give you a reminder when your current tariff is endingto prevent you being moved onto standard, more expensive tariffs reports The Liverpool Echo.
Read below to see exactly how the tool works
Martin Lewis, founder of MoneySavingExpert.com, said: “For years on the telly, radio and in print, I’ve yelled, cajoled, ranted and tried to seduce the 11 million people sitting on the big six energy providers’ standard tariffs to ditch, switch and save, to stop them wasting £100s a year.
“At my TV roadshows, a constant refrain when I show people how to switch energy is ‘can’t you just do it for me?’
“So years ago, I designed this auto compare-and-switch system, and while it’s been a long time coming to fruition, I’m so excited we’ve now built such a smooth, smart tool to make switching easy.
“The big problem people have isn’t doing a comparison, it’s picking a winner. Many have been burned in the past by switching to cheap tiddler firms, with dire service, and vow to never do it again.
“That’s why this isn’t just about autoswitching people to a generic, cheap-ish deal, as others have tried. It’s about autoswitching them to their personal top pick, and by doing it from the whole of the market, it means the results will likely be far cheaper too.
“My hope is this causes an energy revolution. Most energy firms launch cheap prices for a year, based on the idea that people will stick with them for at least another year once they’ve moved on to the higher price.
Here’s how MSE Autoswitch works
- Step 1: Tell it about your energy bills. Tell it your current energy provider, usage, where you live, how you pay and whether it is dual-fuel or electricity-only.
- Step 2: Pick your preferences. You are given 21 preference points that you simply allocate across six different categories, giving the things that are most important to you the most points. The categories are price, customer service, green energy, fixed rate, a well-known supplier, no early exit fees.
- Step 3: It then picks your top tariff from the whole of the market. MSE then takes your preferences and uses an algorithm to select your winner from the whole of the market – including providers it doesn’t work with or can’t switch you to. It also shows you the next two closest matches based on your preferences.
- If the top pick is with one of the few suppliers MSE can’t switch you to, it will still show as the top deal – all it means is MSE won’t be able to autoswitch you next year (unless you rejoin then).
- Step 4: On the anniversary of your switch, it emails you with your next tariff. When it’s time to switch again (either after a year, or later if you’re on a longer fix), MSE will contact you with the new top deal based on your preferences. All you have to do is click to confirm you’re happy and your details haven’t changed, and then you’re switched to the new provider.
- MSE reduces your bill further with £25 cashback if you don’t go direct. The only autoswitch (there are no other auto compare-and-switch) services that look across the whole of the market charge a fee. MSE is free to use, and on top of that, if you switch via the tool and MSE gets paid (as other sites do), you get roughly half back as cashback – £25 for dual-fuel switches and £12.50 for single-fuel.
So you get the same tariff, as if you switched directly with the supplier, and the cashback on top making it cheaper. The rest of the fee pays for the tool, team, and research and operating resources to keep it running – and hopefully makes a profit too. Win-win.
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