In this Spotlight feature, we speak to Llewellyn Kinch, co-founder of energy switching service Switchd. Find out how Switchd was born over a Wagamamas and what the energy industry can do to make it easier for customers to switch to cheaper tariffs.
What is Switchd?
Switchd is an automated energy switching service. Forget comparison sites. We save you over £106 more by switching to the entire market, not just suppliers who pay commission. Sign up once and the Switchd algorithm will check your property against 20,000 tariffs every day. Then, when the time is right, you’ll be automatically switched to a cheaper deal, hassle-free.
Can you tell us about your background? What made you set it up?
The idea was triggered by the AgeUK energy scandal – which made us think there had to be a better way. Tom, my co-founder, and I discussed it over a Wagamamas and decided to give it a go! Our backgrounds in data and operations at Newton our previous company meant we knew that we could build something better! Before Newton, Tom had done a fair bit of work developing for other tech start-ups, which has been invaluable. I was a semi-professional cyclist for a couple of years after university, which is admittedly a less useful skill for a tech start-up!
Are there any practical steps people can take to reduce their energy costs?
Sign up to Switchd – then we’ll find you cheaper energy! On average, we save our customers £390. Of course, you can also save by reducing how much energy you actually use, although this is the more difficult option.
How well do you think people understand their energy bills? Do you think the industry does enough to help those who wish to switch?
I think it’s improving, but it is quite complex so it’s difficult for people to understand everything. That’s where we aim to help as we deal with all the hassle for our customers. There’s a huge amount that could be done to improve the switching process and make sure it happens more smoothly. Ofgem are working on this but it needs to happen quicker.
Where can people go to find this information out?
Your energy bill should tell you how much you’re spending broken down into daily charge and cost per kwh. It will also have your tariff and annual usage and that’s enough to do a comparison or join Switchd.
What are your plans for the future? Would you consider offering switching on other bills?
Yes, we intend to do other products as well and it’s something our customers are already asking us for!
If you could offer some advice on how to get the best energy deal, what would it be?
Well, it has to be sign up to Switchd to get the best energy deal! Because we switch to the entire market, rather than just suppliers who pay commission, it means you really are getting the cheapest energy. Plus, we’re always checking the market so that you don’t have to.