Timing is everything when it comes to switching

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Timing is everything when it comes to switching energy tariffs for cheaper electricity and gas, it has been claimed.

According to Love Money, journalists often advise people not make snap decisions when one energy supplier reduces the cost of their energy as other major suppliers are likely to follow suit.

However, the financial advice website claims that this is not always the best course of action.

"It doesn't take into account that energy suppliers have lots of different tariffs (purely to confuse consumers) and that they don't reduce all of them at once," the website's Neil Faulkner claimed.

"My own standard guidance is to look carefully at the small print before you switch," he added.

Mr Faulkner claimed that staying put with your existing provider during a round of price cuts is not always the best course of action and could actually waste money.

Audrey Gallacher, energy expert at Consumer Focus, recently said that the development of next generation energy infrastructure in the UK could push up the cost of electricity bills.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

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