Making sure you’re on the cheapest energy provider can be a time-consuming challenge. You’ll need to regularly trawl through comparison sites and work out which of the providers, including the multitude of different tariffs, will work out cheapest for you.
This is where Look After My Bills have stepped in to help you manage this boring task with an auto-switching service. They actively compare all the energy deals on the market, and if they find one that’s cheaper, they’ll automatically switch you to that provider without you having to do a thing. Sounds good to me, or is it too good to be true?
How Does Look After My Bills Work?
Their aim is to stop everyone overpaying for their gas and electricity by managing the entire process of continuously moving you to the cheapest provider.
Once you’ve signed up, they have built algorithms to find you the best deal automatically. They’ll then let you know they’ve found you a cheaper deal and start the process of switching you to that provider. When that deal ends, they’ll switch you again without you doing a thing.
If you want to sign up, go over to Look After My Bills and get a quote in 30 seconds, it’s easy! Stop paying a loyalty tax to your current provider and move to a cheaper supplier today. The best part is they’ll only switch you if they can guarantee to save you £50, not a bad guarantee.
Energy Companies – List of Suppliers
Some of the suppliers that are listed on their website are listed below, although more are continuously being added as they change and update their deals.
- British Gas
- Octopus
- People’s Energy Company
- Green
- Utility Point
- SSE
- EDF Energy
- Bulb
- OVO Energy
How Do They Make Money?
Whilst being free for users, the way Look After My Bills makes money is to take a commission from each of the companies when they switch a customer over to their service. This commission is the same amount no matter which company they are switching to help avoid any risk of bias. They also promise to only switch you to a company they trust and have good customer service.
They’ve also said that they plan on expanding to other services in the future including broadband, home insurance and car insurance.
Refer a Friend Reward
At the moment there is a major push on word of mouth advertising. As a result, they are doing a refer a friend promotion where if you share Look After My Bills with a friend and they sign up, you both get a reward.
Both you are your friend will get £20 if your friend switches their gas and electric and £10 each if they just switch their electricity. Not bad for such a great service!
Look After My Bills Customer Reviews
Look After My Bills on Trustpilot has almost 20,000 reviews, of which 85% are 5 starts and an average of 4.6 out of 5. Many of the reviews cite excellent service and highlight everything seems to move like clockwork whilst also saving them money. Many reviews also show how they’ve been customers for over a year, which is very impressive considering the company was founded in 2018, so is a good sign that they already have good customer retention.
Can you Trust Them? What’s the Catch?
I agree this does sound a bit too good to be true, a free service that will do all the leg work and you get all the benefits. Well as I’ve previously mentioned, they also aim to collect a referral fee from each of the companies when they switch a customer to their service.
As a result of needing to collect a referral fee, it does mean that to feature in their list of suppliers, they have to offer a referral scheme. This may preclude some suppliers that have great deals from being available, so technically you might not be getting the best deal.
However, the good news is that in the energy industry referral fees have almost become an essential if a company wants to stay in business and grow. This means a large number of suppliers offer this perk so will give you a good chance of getting the absolute best deal on the market.
You’re also only able to sign up to the service if you’re willing to pay via direct debit, although this does actually make life easier for you and also helps them reduce costs. You’ll also need to have a standard electricity, economy 7 or prepayment meter.
Alternatives
If you’re looking for Look After My Bills alternatives then there’s two ways to go. You can either go directly to an energy provider, or use a different auto-switching energy company.
If you’re wanting to go directly to the energy provider and get the deal yourself, read this post on the cheapest UK energy suppliers to find the best deal.
For alternative auto-switching services, read this post on the best automatic energy switching services where there’s information on other providers. This includes Flipper, Switchcraft, Switchd and Billbuddy. However, just as a spoiler, Look After My Bills is the largest and is one of the best at saving customers money.
Dragons Den Investment, Episode & Founders
Look After My Bills was founded in January 2018 by Will Hodson, a tech entrepreneur and Henry de Zoete, a former government advisor. They became household names when they managed to secure what was highlighted as the “best equity deal” in the history of Dragons’ Den. They were given £120,000 for just 3% of their business from two dragons, Jenny Campbell and Tej Lalvani. If you’re interested in watching it, they were featured in the second episode in the 16th series.
Can I Switch with a Smart Meter?
Yes, you can still sign up and use Look After My Bills to save money if you have a smart meter. Most of the smart meters that have been installed so far in the UK are first generation. These first-generation smart meters will still work if you change supplier, however, their downside is that they lose the ability to send automatic updates.
This means you’ll have to manually provide your new supplier with meter readings periodically. This should hopefully be worth the extra effort if you’re saving a decent amount of money on your energy.
Second generation smart meters are being trialled which are able to send meter readings even if you switch supplier, so hopefully these will be rolled out rapidly soon.
Is it Easy to Cancel / Unsubscribe?
Each time Look After My Bills wants to switch your service, they will notify you before they make the switch. If you don’t say anything they’ll switch you automatically to the cheapest rate, however, they also have a 14-day cooling-off period if you don’t like that supplier or don’t want to make the switch.
If you want to unsubscribe or cancel the entire service, that’s also easy. You just have to send an email to their customer support email with the subject line CANCELLATION and a few quick details.
- Your full name
- First line of your address and postcode
- Date of birth
- Reason for cancellation of service
Cancelling the Look After My Bills service will not cancel your energy plan, it just means they’ll stop actively looking for the best deal for you. You are then free to switch to any energy company you choose yourself.
Are There Any Exit Fees?
If you want to cancel the Look After My Bills service, there are no cancellation or exit fees. However, as this does not cancel your energy agreement, you may still have exit fees or early termination fees with the energy company you are contracted with.
Companies with variable or standard tariffs usually don’t have exit fees, however those that offer a fixed energy tariff usually do have exit fees. Any fees are usually shown on the 2nd page of your energy bill under the ‘About your tariff’ section.
Verdict
Overall, if you’re looking to consistently get a cheap price for your energy and want to avoid the hassle of continually scanning the market, then Look After My Bills is great for you. They’ll do all of the leg work and provide you with a great service for free.
Yes, you may be able to find a cheaper deal doing it yourself, however, the actual difference in price will most likely be minimal and not worth your time. This will help to free up your time to focus on other expenses where you can make more of an impact. So if this sounds appealing, sign up to Look After My Bills and let someone else do the work for you.
Hi, I’m John. I’ve always had a keen interest in Finance, so much so that I’ve made a career out of it! This site is a place where I can share everything I’ve learned as well as give me the excuse to research certain topics.
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