Let’s be honest, nobody likes scouring the market for the best energy deals. In fact, according to Ofgen, 57% of households could be on a cheaper tariff, costing them hundreds of pounds a year. It’s an annoying task to undertake each year, even if you remember! Frankly, we’ve better things to be doing and don’t have the time, right? Well, this is where Look After My Bills steps in.
They constantly check the market for the best deals for you and switch providers automatically. It’s like having your own energy virtual assistant! In fact, it saves the average customer £250 per year. So how can you use it to generate maximum savings with minimum hassle?
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Founded in 2014 by two friends with an entrepreneurial spirit, Look After My Bills (LAMB) has evolved from a one-time energy switching deal service to the leading auto-switching service.
Originally, the two entrepreneurs impressed the BBC Dragons’ Den team in 2018. Amazingly, they received offers from all five dragons! The pair walked away from the den having secured additional funding and the backing of Tej Lalvani and Jenny Cambell. It was hailed as the best deal in Dragons’ Den history. At that time Dragons’ Den had been running for 13 years over 16 series!
What is an Energy Auto-Switching Service?
Put simply, auto-switching (also known as automatic switching) is the easiest way to move energy supplier and save money on your bills. It’s the modern way to do bills without the headache and hassle of comparison sites.
Importantly, auto-switching means the switching process is managed for you. It’s a system that works in the background to find the best energy deal for you and switches you over automatically. The auto-switching process notifies your old supplier that you’re leaving and sets up the direct debit with your new energy supplier.
Once set up, this service will continually check the market and ensure you’re on a great energy deal.
Why do I need Look After My Bills?
If you haven’t switched energy suppliers in the last 12 months you are probably paying more than you should. According to Ofgen, 57% of people are on the Standard Variable Tariff (SVT). Worryingly, the SVTs offered by energy suppliers are typically the most expensive tariff.
Most people inadvertently find themselves on an SVT, as they don’t swap suppliers or renegotiate after their initial deal ends, which is typically after the first year. Furthermore, many people don’t even know when their original contract is up. As a result, energy suppliers know people forget or can’t be bothered, so this is where they make all their money. In fact, they rely on you not taking action.
There are currently around 70 different energy suppliers on the market, yet despite the vast choice, most people still don’t switch regularly. Because simply, it’s a hassle and there are better things you can be doing that trawling review and comparison sites. This is where Look After My Bills steps in as your personal energy assistant to save you from your inaction by doing it all for you. But, best of all, it’s completely free!
How does Look After My Bills work?
LAMB automatically scans the market for the best rates available based on your area and usage. Once it finds a good deal for you it will offer the switch. You simply follow the instructions and LAMB takes care of everything else.
Furthermore, this process is repeated periodically, typically yearly, to ensure you always stay on a great rate without the hassle of searching the market yourself. If you can save £50 or more, LAMB will notify you and suggest a new supplier.
Importantly, Look After My Billsdoesn’t supply your energy, they simply act as the matchmaker between you as the customer and the energy supplier. This means if you have a problem with your energy supply you speak to the supplier and not Look After My Bills. It also means that once your energy supply switch is completed, you deal with the new energy supplier directly until Look After My Bills finds you a better deal.
Make sure you have the above ready before you start, so the whole process can be completed quickly. You can start the process here.
Look After My Bills claims to save new customers on average around £250. After this, Look After my Bills will switch you to a new supplier if you can save more than £50. You will get an email to advise you of the switch and the saving you can make. You always have the right to refuse the switch or stop using Look After my Bills.
Can I join if I am in a contract?
Yes. Look After My Bills will ask when your current contract ends when you join. They then scan the market and send you a reminder when you can switch without penalty.
At that point, you can start your auto-switching journey. From then onwards you will get periodic nudges if better deals are available.
Is Look After My Bills the cheapest?
Look After My Bills aims to get you a fair deal. That may not mean the very cheapest. Look After My Bills are very transparent about the fact that they only work with energy suppliers that pay them a commission for switching your supply. By doing this, LAMB can keep the service free to use and cover their costs.
Of course, this does mean that they don’t have access to all the energy companies on the market, although they do claim to work with around 50 suppliers, which is a pretty good spread.
Look after my Bills Review
LAMB has received great feedback from customers on Trustpilot. They have a rating of 4.6 from over 12,000 reviews. This is a great achievement as most of the larger energy suppliers receive very poor ratings.
Remember though, the rating is for the auto-switching process and not for customer service or the underlying energy supplier that you will be switched to.
Look After My Bills & Renewable Green Energy
When you join LAMB you get the option to select renewable energy tariffs only. This means that 100% of the electricity sold to you will come from renewable sources like solar, wind & water.
This really appealed to us and is becoming increasingly important to consumers.
On the other hand, gas cannot be guaranteed to be green by any supplier.
Look After My Bills login
You can access your Look After My Bills account here. From your account, you can review your service and see if there are any better deals. Also, you can find your unique refer a friend code that could earn you some extra cash.
Refer a friend and share £40
LAMB offers a ‘Refer a Friend’ program. You can share your unique code from the bottom of any email you receive or in your account to split then £40 with your friend. Essentially, if your friend signs up to LAMB, you get £10 each if they switch electric and another £10 for gas. This means you could earn £20 and your friend gets another £20.
However, while this is a great offer, the best refer a friend programme is offered by Octopus Energy that offers £100 to split between you and a friend.
Look After My Bills Dragons’ Den
Look After My Bills featured in the BBC’s Dragons’ Den in 2018.
The two budding entrepreneurs and best friends pitched their idea for the service that automatically switches your energy tariff to ensure you’re always on the best deal.
All five Dragons made an offer to invest in their company with Peter Jones stating “I think you’ve got a real chance of making this a success”.
The co-founders of LAMB secured an investment of £120,000 for just 3% equity in their company, making it the best deal ever secured in the Den.
What we like about Look After my Bills
It’s easy to sign up – you can complete the whole process in just a few minutes
It’s automated – switching energy suppliers is one of those tasks that we can easily forget about. This takes away the hassle
The largest auto-switching service – as a result, LAMB carries the most weight when negotiating with energy suppliers, bagging you a better deal
The company ethos – we love innovation and we dig renewable energy that helps out the planet, so this certainly feels like the next generation of comparison sites
What we don’t like
You might not get the best deal – by doing it yourself, you may save a few quid more if you are organised and have the time
No switching bonus – as Look After My Bills receives a commission, it excludes you from getting cashback or ‘refer a friend’ bonus’ from suppliers. Others like Octopus Energy offers you and a friend £50 to switch.
Dealing with different suppliers – once switched over, you still have to deal with different energy suppliers each time. It would be great if you submitted readings to Look After My Bills only
How to contact Look After My Bills
You can contact LAMB using the number below or by using the contact form (found here) on their website.
Look After My Bills: 020 3950 1166
Additionally, you can use the Help section of the website if you have any questions.
Look After My Bills provides you with an automated system to ensure you don’t overpay for your energy ever again. If you have ever forgotten to review your energy suppliers and are on the Standard Variable Tariff, then LAMB could save you £250 a year. Having a virtual energy-saving assistant constantly reviewing the market also removes one of those day-to-day financial tasks you know your really should do, but simply don’t. To see if you could save money, join Look After My Bills here.
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EatSleepMoney.co.uk does not offer financial advice and is intended for reference/information only. Remember, you should always carry out your own research and/or take specific professional advice before choosing any financial products or services or undertaking any business or financial venture. Investments may go up as well as down and you may get back less than you put in.
I'm obsessed with money...just in a good way. Having cleared £30,000 of consumer debt within three years, I learnt a tonne of lessons along the way.
One of the biggest was how important our 'money mindset' and relationship with money is in achieving our goals.
If I can help just one person get out of debt and live a better life, then this has all been worth it.