Consumer advice: tips for making the big switch and save

Switching service providers for electricity, gas, oil, phone, and internet can lead to substantial savings on monthly expenses. However, many people in Ireland are unsure how to approach this or feel it may be time-consuming.

While the leg work is worth it for many consumers, switching requires research and planning. It means comparing rates, assessing your usage, and being proactive with your contracts. To help with your research, here are some key tips to help you navigate the process smoothly and effectively:

Compare prices regularly

Utility prices fluctuate, and providers frequently offer new deals to attract customers. Use comparison websites like Bonkers.ie or Switcher.ie to review the latest rates for electricity, gas, phone, and internet.

These sites allow you to filter based on your usage and highlight the best options tailored to your needs.

Also if you are an IFA Member, there are discounts available from Bord Gáis, Vodafone and IFA Telecom.

Introductory offers

New customers often benefit from lower rates or incentives for the first 12 months. Providers like Electric Ireland and Bord Gáis Energy regularly roll out introductory deals, which could significantly reduce your bills.

Just remember that these offers often revert to standard rates after the initial period, so set a reminder to review your plan before renewal.

Bundle services

Many providers offer discounts when you bundle services such as phone, internet, and TV.

Virgin Media, for instance, often has promotions that reduce costs when customers sign up for multiple services. Bundling can simplify billing and lead to better rates overall.

Check terms and exit fees

Before switching, review your current contract for any early termination fees. While some providers waive these fees if you’re moving to a partner service, others may charge for breaking the contract early. Understanding these terms ensures that switching won’t unexpectedly increase your expenses.

Assess your usage

Accurately understanding your energy and data usage helps you choose the most appropriate plan. For electricity and gas, review your past bills to determine average consumption. For phone and internet, evaluate your monthly data usage. Picking a plan that aligns with your actual usage can prevent paying for unnecessary extras.

Don’t overlook oil providers

If you use oil for heating, prices can vary significantly between providers and even change week-to-week.

Websites like Cheapestoil.ie list oil prices across various suppliers, helping you identify the best time to buy and save on your next order. Buying in bulk or during off-peak seasons can also result in lower prices.

Consider smart meter plans

With smart meters becoming more common in Ireland, electricity providers now offer time-of-use plans that can save you money if you adjust your usage to off-peak hours. Check if your provider offers these plans, and compare them with flat-rate options to see which works best for your household.

Call providers directly

If you find an appealing offer with a competitor, contact your current provider and let them know you’re considering switching.

Many providers, such as SSE Airtricity or Eir, may offer a retention deal to keep you as a customer, which could match or beat the competitor’s offer.

Review hidden costs and fees

When reviewing offers, watch out for potential hidden costs, such as installation or activation fees for phone and internet services.

Knowing all associated charges ensures that you won’t be caught off guard by your first bill with a new provider.

Get help from switching

If managing the switching process feels overwhelming, consider using a dedicated switching service.

Companies like Bonkers.ie or Switcher.ie can handle most of the process on your behalf, making it easier and faster to move to a better plan. These services often ensure a smooth transition without interruptions to your utilities.

It’s so important to be vigilant about your household bills. January is a great time to do get switching and save yourself some money.

Margaret Barrett is managing director at Mortgage Navigators, a specialist mortgage broker service with offices in Cork and Dublin. Margaret is an experienced mortgage adviser and Qualified Financial Advisor (QFA). See mortgagenavigators.ie