Annual energy statements make it easier to switch energy. Find out how they work.
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Annual energy statements are a statement from your energy supplier giving you information about how much gas and/or electricity you've used that year, and how much it has cost you.
What information is on an annual energy statement?
Ofgem says that your annual energy statement must contain:
The name of your tariff
This is crucial for running an accurate comparison and finding a better energy deal. When you enter you tariff details we can use the right rates for your current plan.
How much energy you've used in the past 12 months
This is in kilowatt hours (unless you've been with your energy supplier for less than 12 months). This is a crucial figure and will allow you to run an accurate comparison.
The estimated cost in pounds per year
If you stayed on the same tariff, the tariff stayed the same (e.g. no price rises or price cuts) and if you carried on using the same amount of energy
The main terms and conditions of your tariff
Again these are very important. If you are on certain kinds of tariffs that are fixed for a given period of time you may have to pay an exit fee to leave early for example.
Details of any premiums or discounts
The details could apply to the tariff you're on, or that you may be available to get if you switch to another tariff or payment method with the same supplier (e.g. if you paid by cheque and there was a direct debit discount available, your energy supplier would have to tell you about this on you annual energy statement)
A reminder that you can switch your gas and electricity supplier.
You shouldn't need a reminder to make sure you are getting the best energy deal; if you're not you could be overspending by hundreds of pounds. We recommend you run a comparison once or twice a year to make sure, but, if you forget, your annual energy statement will remind you.
How to save using your annual energy statement
Unlike a monthly or quarterly statement which varies by season and just provides the basic information, an annual statement provides a broader overview of your total energy use over the the course of the year, regardless of seasonal fluctuations.
As such it tells you exactly how much energy you've used and how much it's cost you. Coincidentally, this is the exact information you need to run an energy comparison to check for a cheaper deal.
Your annual energy statement will make it easier to switch, because it will provide you with all the information you need to compare prices on one piece of paper, so there's no need to hunt around for your bills, worry about whether they're estimated readings or not, guess what your plan name is or do complicated calculations to work out your annual usage.
So when you receive yours, don't just shove it in the back of a drawer - act on it. Think of it as an annual reminder to make sure you're paying the cheapest price for your gas and electricity.
How to switch energy - step by step
Grab your your annual energy statement and locate the following information:
- Your supplier name
- The name of the plan you are on
- Your total annual energy consumption in kWh.
Next, go to an Ofgem-accredited comparison website and enter your postcode.
You'll be asked to enter the information above, as well as provide information such as how you pay (direct debit, prepayment, quarterly pay on receipt, etc) and if you have an economy 7 meter.
Once this info is entered, a comparison will be made of your plan against energy tariffs currently available to your region and you'll be provided with the results.
Once you've found that suits your needs, simply click 'Switch now' to provide a few account details — uSwitch will help you take care of the rest.
We send through your switch request to your new provider, who will in turn contact your old supplier.
Your switch should only take about three weeks to complete, and your energy will not be shut off at any point, nor does anyone need to come 'round to change anything over. The only thing you need to do is take a meter reading on the date of your switchover — that's it!