GoCompare’s new service could get you cheap energy deals for life
Weflip from GoCompare is aimed at people who think switching energy provider is too much hassle.
The ‘sign up once, save forever’ service switches households onto cheaper energy deals as long as a £50 saving can be made, including exit fees.
Customers sign up once, then Weflip scours the market for the best tariffs available through the service and flips them automatically, for life.
Matthew Crummack, CEO of GoCompare Group, said: “Despite a long series of industry-wide campaigns to encourage switching, progress has been painfully slow. Not least because the onus has always been on customers to take action year after year.
“Through weflip, we’ve removed as much hassle as possible from the process of finding and switching to better energy deals. We believe that our easy to use, hands-off approach to continuous saving has the potential to bring overpriced energy deals to an end, for good.”
The new service launches against a backdrop of rising energy prices and staggering overspending figures.
According to Ofgem, 54% of Britain’s 28 million households are on poor value default tariffs, typically with one of the Big Six Energy providers, and are overpaying on energy by £352 a year.
Frank Field MP, chair of the Work and Pensions Select Committee, said: “Currently, the onus is on households to make difficult and time-consuming choices between different deals offered by suppliers, often based on confusing tariffs, amongst all the other competing demands that life throws at them. Hence the ease with which suppliers can continue asking them, year after year, to pay over the odds for the gas and electricity.
“Any moves to address this injustice by helping those hard-up households who, as loyal consumers, have long been paying too much for their gas and electricity, are to be welcomed.”
Weflip is a free service and customers can expect to be switched once or twice a year.
What other auto-switchers are out there?
Weflip isn’t the only automatic switching site, but it is the first to have the backing of an established company and has direct relationships with 67 of the 72 suppliers in the market.
Flipper is a similar proposition. It scours the whole market and automatically switches you to a cheaper deal, but it charges an annual fee of £25 as long as a saving of at least £50 has been found. Customers can be switched up to four times a year.
Look After My Bills, which hit the headlines earlier this year after landing a record deal on BBC’s Dragon Den, is another similar site. It doesn’t monitor as many tariffs but is free to use.
Switchcraft and Labrador are also free-to-use services but are not whole of market.
For more on automatic switching sites see: Which energy switching firm is best for you?