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Look After My Bills Review – Auto Switch Energy Plans to Save Money
We all know that you need to switch energy providers regularly to get the best prices and keep low monthly bills. But look, let’s be honest, it is a pain switching service. Trawling through comparison sites and trying to decipher hundreds of different types of gas and electric deals and work out which is best is arduous and confusing work. That’s where Look After My Bills comes in. But what exactly is it and how does it work? In this review, we will tell you everything you need to know about the service.
According to the Energy Saving Trust, you can save up to £305 on your energy bills if you upgrade a G-rated boiler to a new A-rated one. That’s a big slice off the top of your energy bills.
But are there other ways to cut those energy bills? Switching energy providers is a well-established strategy for keeping those bills as low as possible. But it still depends on you both cutting through the jargon to understand complex utility plans and trusting the various price comparison sites out there to give you the best deal and lowest energy bills down the road.
The question is, can we really be sure we are paying the lowest rates possible for our utilities?
This is where Look After My Bills claims to fit, by helping all customers to get the best possible deal for them. But do they live up to their claims to keep your energy bill low? In this review, we will dig deeper to tell you everything you need to know.
Table of Contents
What is Look After My Bills?
Look After My Bills was founded in 2018 by two old university friends, Will Hodgson, a tech entrepreneur, and Henry de Zoete, a former Government Special Advisor. The two had previously worked together on ‘The Big Deal’, a project which signed up members and then negotiated collectively with utility companies to deliver great savings on energy bills.
With this track record, they went on to establish Look After My Bills, which promised to save users an average of £253 a year.
Energy switch from Dragon’s Den
If you have heard of Look After My Bills, it is probably thanks to their appearance on the BBC TV series Dragons Den. They achieved the best equity deal in the history of the show with investors Tel Lalvani and Jenny Campbell investing a total of £120,000 for just a 3% stake in the business.
How does Look After My Bills work?
Look After My Bills is intended to relieve its customers of the hassle of switching energy companies.
To get started, all you have to do is register with the site, which takes just two minutes and basically involves sharing your email address, residential address, and details of your existing energy tariffs and providers.
You will be asked to share your usage details too, so try to have these to hand as well. Most utility providers share this information on their bills or online accounts.
In our testing, we found Look After My Bills registration to be extremely simple and anyone, even someone uncomfortable with computers should be able to sign up without any problems.
The firm then processes this information using their unique and complex algorithms and comes back with the best current deal for you. They will only offer you one energy deal, not the long list that most comparison sites offer.
There are pros and cons to this approach. Comparison sites will give you more choice but you then have to read loads about each choice and then make the decision on which offer to go with by interpreting the information they provide.
Switching and Cancelling
Look After My Bills takes away this hassle. They give you one deal, the best deal for you. For many people, this is a much easier system. For those who want more choice, the other comparison sites are still there.
If you decide to accept the offer that Look After My Bills has made to you, you will then have to enter your bank details and authorize the site to manage your utility bill switch for you. They will then take on all the hassle of talking to your old provider or supplier and setting things up with your new one. The only thing you have to do is provide meter readings to your old and new supplier.
Look After My Bills is an ongoing switching service and when your new deal is coming to an end, they will then automatically switch you to a new tariff with a different provider to get you the best possible deal again.
If you are a little uncomfortable with this, which some are, you do have a 14-day cooling-off period before switching services. During this time, you can cancel the switch, but you will need to do it directly with your new energy provider and also inform Look After My Bills of your decision.
There is no denying that the cancellation process for Look After My Bills is rather less user-friendly than the signing up process. But for many people, there is simply no reason to cancel as you should always be getting the best deal.
How much money will Look After My Bills save me?
There is no set answer to this as each individual customer and their energy deals are different. But take a look at the site — it claims that it can save anyone as much as £253 a year.
The site does make it clear that they will not switch provider unless you can make a saving of at least £50, which is a sensible policy that saves any potential complexities for the sake of a small saving on electricity or gas.
If you have a prepayment meter, this amount drops to £15.
How does Look After My Bills make money?
There is no charge to you for using Look After My Bills to switch provider, which is great because you get all this service for free.
But obviously, the Dragons Den investors haven’t put their money into this business for no reason, so how does Look After My Bills keep making money?
Quite simply, it charges a commission to whichever energy company it switches you to. This is a flat commission across all providers, so there is no risk of the company showing bias when switching people from one provider or another.
It is also very careful about which utility companies it works with so you should only ever be signed up to a trustworthy company which provides good customer service.
What if I change my mind?
If you decide you don’t want to switch to the provider Look After My Bills have chosen for you or you have found a better deal yourself (which is unlikely but not completely impossible) you do have a 14-day cooling-off period.
During that period you can cancel your new deal although you will have to do so with both Look After My Bills and the utility company itself.
If you are further into your deal, you will still be able to leave but there might an exit penalty payment involved.
What if you only want Green Energy – Green Gas or Electricity?
Look After My Bills does allow you to choose to compare only suppliers of green energy.
They can guarantee 100% renewable green electricity but unfortunately are unable to guarantee 100% green gas.
What do other customers think about Look After My Bills?
Customer feedback for Look After My Bills has been overwhelmingly positive so far.
On TrustPilot, which is the litmus test for customer feedback, 85% of Look After My Bills customers rate the site as excellent.
They have an overall TrustPilot rating of 4.6 which is extremely high.
Are there any alternatives to Look After My Bills?
There is no other site that offers quite the same service as Look After My Bills that we are aware of.
The popular consumer website MoneySavingExpert runs an energy club that seeks out the cheapest deals for its readers. However, this site will not automatically switch you over but rather just send you an email alert.
Other sites such as Flipper and Switchd seek out deals that will save you a minimum of £50. These services are not driven by commission but they are also not free to use and you will have to pay either a monthly or an annual subscription.
Obviously, there is no shortage of comparison sites out there that can help you find great deals to switch your energy provider with to. One of these comparison sites, GoCompare even runs its own service called WeFlip.
WeFlip is the closest equivalent to Look After My Bills that we have found. It is free to use and also makes its money on commission. But as far as we are aware, it doesn’t make the same claims to market neutrality as Look After My Bills.
Pros and Cons
Summing up, it is fair to say that there are a number of pros and cons to the service that Look After My Bills offers. These can broadly be summarised as follows:
- Free for users
- Easy to sign up
- Switches to the cheapest deal automatically
- 14-day cooling-off period if you aren’t happy.
If you are looking for a site that removes all the hassle of switching energy providers and will still save you a ton of money on electricity and gas each month, Look After My Bills is definitely a service worth considering.
- Only works with suppliers that pay them a commission
- Only offers deals that save you more than £50
- Only works for direct debit customers
- Doesn’t inform you if you are about to switch provider
Look After My Bills is not for everyone. It takes away all the hassle but it also doesn’t communicate very well once you sign up. You are basically giving Look After My Bills carte blanche to switch your energy provider as and when they see fit.
For some people, this is ideal. But for those who like to be a little more hands-on with managing their money and bills, Look After My Bills can sometimes feel like a step too far.
Look After My Bills is a fantastic and unique service that can save you a lot of money on your utility bills. But it isn’t for everyone.
If you are happy to wash your hands with your energy bills and just want the smallest possible direct debit to go out of your account and for the lights and heating to stay on, Look After My Bills is ideal for you.
But there is no middle ground with this service. It is fully automated and if you want any semblance of control over your utility bills and which energy supplier you sign up with, this isn’t for you.
There are plenty of other options for you out there, some of which we have touched on in this guide. But Look After My Bills takes all control and input from you away. For some people that’s perfect, for others, it just won’t sit right.
It is essentially a matter of individual choice, but if you like the idea of washing your hands of switching utility providers completely, Look After My Bills is a terrific service.
Get in touch
- Have you ever used Look After My Bills?
- How did you find their service?
- Do you have tips or comments for our readers?
- Do you have any questions we haven’t addressed in this guide?
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