Switching site GoCompare has launched its own auto-switching product, called ‘Weflip’, joining a handful of specialist companies.
Customers can sign up to from today, Monday 15 October. The new service is powered by Energylinx, a GoCompare Group company that operates an Ofgem-accredited energy comparison and switching service and also provides white-label energy comparison services to over 200 partners, including Which?.
Matthew Crummack, chief executive of GoCompare Group, said: “This hugely powerful tool will track energy deals daily, but we anticipate customers will be switched once or twice a year, when a significant (at least £50) saving can be made.”
To use the service, customers enter their personal details and preferences. Algorithms will match their details with the best tariff available through the service – which may not be all tariffs on the market. Customers choose the first deal to flip to from the selection. After the initial switch, members will be flipped to better deals automatically, when a minimum saving of £50, including exit fees, can be made.
GoCompare claims to be the first major switching site to offer an auto-switch service, although some others offer an annual tariff search that prompts customers to consider switching.
Further reading:
New launch means consumers have a handful of auto-switching options
Octopus Energy chief: auto-switching is no way to build industry trust