How to find and compare small energy suppliers
Have you been considering switching to a independent energy supplier but don’t know where to start?
With more than 60 energy suppliers now operating in the UK, it can be difficult to know where to start when comparing energy prices.
In recent years, an increasing number of people have turned to smaller, independent suppliers when switching their energy contracts.
If you’re thinking of switching to an independent supplier, the experts at Love Energy Savings can help you find the best deals available on the market.
Why has the number of independent suppliers increased?
Prior to 2013, the Big Six energy suppliers owned almost 100% of the energy market. The energy regulator Ofgem then introduced reforms aimed at giving alternative providers a fair shot of competing with the big suppliers.
This, along with the Energy Switch Guarantee, has made it much easier for consumers to switch to smaller, independent suppliers.
The market share of the big 6 has now reduced to around 70% in 2020, with more customers choosing independent gas and electricity supplier.
What are the advantages of small energy suppliers?
- Independent suppliers often offer some of the cheapest prices on the market
- Smaller suppliers are regularly found to be the best rated energy suppliers
- Increased competition results in more tariff options and variety for customers
What are the disadvantages of independent energy suppliers?
- For some of the newest energy suppliers, it can be difficult to find information on their customer service.
- Independent suppliers which grow quickly may find it difficult to cope with surges in customer numbers.
- A small, independent supplier may be more likely to go out of business (although you will be protected by the Energy Switch Guarantee).
Who are the most popular independent suppliers?
Over recent years, many independent suppliers have seen a rapid growth in customers taking a much larger share of the market.
With Love Energy Savings, you can compare a wide range of independent suppliers to give you access to the best prices available on the market.
Here, you can find some of the most popular small energy suppliers.
Small & Independent Energy Suppliers
OVO Energy is the leading independent energy supplier in the UK with around 1.5 million customers.
OVO Energy launched in 2009 and acquired big 6 supplier SSE in January 2020 to form part of the ‘OVO Family’.
OVO Energy offer standard tariffs and green energy tariffs promising 100% carbon neutral energy.
Launched in 2015, Bulb is one of the fastest growing independent energy suppliers with over 1.5 million customers.
Bulb offer customers just one variable rate tariff which provides customers with 100% renewable electricity and 100% carbon neutral gas.
One of a growing number of independent green energy suppliers, all Octopus Energy tariffs offer 100% renewable electricity and 100% carbon offset gas.
Having launched in 2016, Octopus Energy is now the UK’s largest investor in solar generation and now supply around 1.5 million UK homes.
Utilita launched in 2003 and focuses on serving customers who use prepayment meters with a free smart prepayment metering system.
Having installed Britain’s first smart meter in 2008, Utilita aim to make it easier for prepayment customers to keep track of their energy usage and how much they’re spending.
Is there a risk to switching to an independent supplier?
One of the most common worries for customers is whether a small supplier will be as reliable as switching to a one of the big 6 energy companies.
Although there has been a number of small suppliers who have collapsed in recent years, measures have been put in place to protect customers including:
- Continuing you supply with a new supplier (known as a Supplier of Last Resort)
- Protecting customers’ energy supply and credit balance
- Ensuring customers aren’t financially worse-off with a Supplier of Last Resort
Switch to an independent energy supplier with Love Energy Savings
With so many independent energy suppliers on the market, it can be difficult to know where to start when it comes to comparing energy prices.
At Love Energy Savings, we can help you find the best deals from a huge range of independent suppliers in seconds.
Our energy experts will even handle the entire switching process on your behalf, from letting your current supplier know you will be switching to getting you set up with your new supplier.
With our excellent rating on Trustpilot from over 11,000 customer reviews, you can be confident that you’re in safe hands.
Small Energy Suppliers FAQs
What happens if my supplier goes out of business?
In the unlikely event that your energy supplier does go out of business, you will be protected by the Ofgem safety net.
Energy regulator Ofgem will move you to a new supplier so your energy supply won’t be disrupted.
Your new supplier will put you on a ‘deemed’ contract which can be more expensive than other deals. However, you will be able to switch to a new supplier at any time with no exit fees.
Are independent energy suppliers always cheaper?
The cheapest energy supplier for you will depend on your individual circumstances and the type of tariff you are looking for.
Although an independent supplier may be cheaper, this is not a hard and fast rule. The quickest way to find out which supplier offers you the cheapest deal is to compare energy prices with Love Energy Savings.
What is the Energy Switch Guarantee?
The Energy Switch Guarantee is aimed at making it easier for domestic customers to switch their provider.
- Guaranteeing a reliable and hassle-free switch in 21 days
- Allowing you to continue to use you existing energy supplier right up until you switch
- Guaranteeing that you won’t be left without electricity or gas at any time
- Refunding any credit from your old energy account within 14 days of your final bill