Automated energy switching site Switchd and Billmonitor have formed a cooperation agreement driven by their similar business models – both companies always aim to put the interests of the consumers first.
By working together, the two companies aim to help their customers save as much money as possible in the mobile phone and energy spaces. Currently, Billmonitor estimates that the mobile networks are over-charging businesses and consumers £7.6-billion per year, while Switchd estimates UK households are overpaying on energy to the tune of £7.5-billion every year!
Of the cooperation agreement with Switchd, Billmonitor Managing Director Klaus Henke says:
We enjoy working with like-minded teams, and Switchd’s approach of putting the clients interest first instead of focussing on commission income from the big providers is exactly in line with our approach in the mobile phone industry.
Working in the gas and electricity space, Switchd offers a seamless, automated energy supplier comparison and switching service. The company considers the whole market objectively and, like Billmonitor, they only charge a fee once savings have been made. The small charge, which is to ensure the company can remain impartial, is only implemented once customers save more than £50 per year. Switchd’s current average savings is £379 every year. This tends to be higher than comparison sites as they switch to the whole market and their algorithm checks the market every day, ensuring the timing of each switch is optimal.
Following the AgeUK ‘energy scandal’, Switchd co-founders Thomas Rogers and Llewellyn Kinch were driven to research exactly how much UK households were overpaying for energy. What they found was a sector where large commissions have become standard practice, with comparison sites only offering switches to suppliers that they have agreements with. They also learned that people are hesitant to switch suppliers without the aid of comparison sites due to a lack of understanding of how the process works and not having enough time to investigate fully. Switchd was conceived as a response to those concerns and to ensure that its clients can be certain they’re always on the best deal.
Co-founder Llewellyn Kinch says:
We set Switchd up to stop people being ripped off and take away all the hassle of switching. We want to ensure our customers know they’re always on the best deal because we’re on their side!