Igloo Energy Review: Prices worth Switching for in 2021?

Founded in 2017, Igloo Energy is on a mission to make homes smarter, more efficient and cost less to run whilst helping the transition to cleaner energy.

Igloo Energy Review 2021

Unlike traditional energy companies, they actively want you to reduce your energy and have designed innovative data analysis tools to show you where to focus. By choosing these new innovative tools, it means their business model is aligned to your interests as a customer by actively focusing on reducing your energy bill.

This helps ensure you get a competitive price for your energy bill. In this Igloo Energy review we’ll see how they stack up against alternative providers and see if they’re right for you.

Igloo Energy Tariffs and Prices

There is just one tariff to choose from called the Igloo Pioneer which does make comparison a lot easier. They say have have done this specifically to make the customer experience simpler.

Just having one variable tariff means customers no longer have to be vigilant for when their fixed tariff ends and risk being automatically switched to an extortionately priced variable tariff. Below are the average prices for the tariff.

One thing to note about Igloo energy is that it’s not necessarily a straight comparison on price between alternative providers. As Igloo specialise in trying to actively reduce your energy bill too, they may actually work out cheaper overall even with a higher unit rate compared to other providers.

Later in the post, I highlight some of the innovative products and solutions available, including a smart thermostat and recommendations based on data analysis.

Tariff InformationLondonYorkshire
Electricity Unit Rate14.932p/kWh15.261p/kWh
Electricity Standing Charge22.640p/Day22.640p/Day
Gas Unit Rate2.925p/kWh2.699p/kWh
Gas Standing Charge26.075p/Day26.075p/Day
Estimated Annual Cost*£990.73£977.37
Estimated Monthly Cost*£82.56£81.44
Exit Fee£0£0
*Estimate calculated using a medium annual consumption of 3,342kWh of electricity and 10,730kWh of gas.

Exit Fees

There are no exit fees with the Igloo variable tariff, so you are able to leave whenever you want penalty free if you feel their prices are too high or can find a better offer.

Customer Reviews

Igloo has 4.5 out of 5 stars on Trustpilot with over 1,500 reviews, 88% of which are either great or excellent.

A lot of the reviews highlight how easy it was to switch over to them as their energy provider and how they like the app. However, where they seem to fall short with the negative reviews is where people have had their energy price increased shortly after joining.

Due Igloo only having one variable rate tariff, their prices can change with relatively short notice compared to other fixed tariffs with other providers that lock you in for 12 to 24 months.

Although as they have no exit fees, this doesn’t seem like a major issue as you can always switch provider if they no longer offer you a competitive price. You’ll also be able to benefit from their £50 free reward credit, and switch away to claim a different reward if they do become expensive, so win-win really.

Smart Meter

Igloo is currently rolling out smart meters to all customers and have partnered with expert installers Magnum Utilities. This rollout will include the second generation SMETS2 smart meters where you’ll be able to track your energy usage in real time.

Interest on Credit Balance

One excellent feature that Igloo offer is that they’ll pay you interest on your credit balance. What I particular like about this is that the company are then incentivised to keep your credit balance as low as possible by accurately estimating your usage and your direct debits.

Smart EV Charging

Leveraging technology, Igloo has built a smart EV app to charge your car using as little carbon as possible by selecting the best times of the day to charge your car.

As a reward you’ll also receive 100 free miles per month dependent on usage that you can claim from any Rolec and Tesla EV charging points, quite a nice perk to be able to charge your car for free.

Smart Thermostats

Carrying on the with smart technology theme, you have the option to choose their smart thermostat through their partner Tado to help reduce your energy bills.

This technology can do a number of things, including geofencing, where it detects when you leave home so you or are on the way home so it can switch energy on or off depending on when you’re likely to be in the house. It can also recognise changes in temperature, sure as when you open a window so you don’t unnecessarily waste energy.

Heating your home can make up over 60% of your overall energy bill, so utilising this technology can help save you a ton.

Air Source Heat Pump – Government Grant

Igloo is also showing customers how to take control of their energy bill by helping you install an air source heat pump that can operate up to 4 times more efficiently than an existing boiler. With over 60% of the energy consumption of an average household dedicated to heating, this can seriously reduce your energy bill.

You can also benefit from a grant of up to £10,000 through the Green Homes Grant Scheme. For low-income households you are able to get a grant of up to £10,000 and £5,000 for others which can be used to cover two-thirds of the total cost.

The scheme ends in March 2022, so if you’re interested head over to Igloo Energy to find out more.

Warm Home Discount

Unfortunately Igloo doesn’t currently offer the warm home discount, however as there are strict requirements for who is eligible it may not affect the majority of customers. Also as they offer some of the cheapest rates on the market, they may even be cheaper than some suppliers that include the discount.

App

The Igloo Energy you app that you get as part of the service allows customers to manage their accounts entirely from their phone. This includes viewing your account balance, previous bills and submit meter readings.

If you opt for any of their smart technology, you’ll also be able to manage those through an app as well, including their smart Tado thermostat, EV charging and heat pump.

Igloo Energy Alternatives

If you’re looking for alternatives to Ingloo Energy for your energy service, then make sure to read this post on the cheapest UK energy suppliers.

In this post I explain how to find the cheapest deals and what to look for when you’re comparing different suppliers to make sure they’re the right choice for you.

Conclusion / Verdict

Overall Ingloo Energy is a great energy supplier. They’ve made sure to align their business model with your needs so they always have your best interest at heart, which is a low energy bill, as you utilise their smart technology.

As they only offer a variable rate there is a risk their energy prices could rise, although if that does happen and they no longer remain competitive, you can always switch away but also keep your £50 referral bonus.

If you want to get started, head over to Igloo Energy now and get a quote in seconds.