Energy: Find the cheapest supplier & earn cashback

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Comments

  • Consumerist
    Consumerist Posts: 6,310 Forumite
    Name Dropper First Post First Anniversary
    edited 15 June 2017 at 5:18PM
    Comicguy76 wrote: »
    I'm new to MSE and looking for advice. I am a small business owner and have recently agreed to enter into a new electricity contract with a different supplier through a broker. There was a verbal contract I agreed to but I didn't know there was no cooling off period. So here comes the problem, when I called my current supplier, they offered me a better deal and I verbally signed up (I know now it was stupid). I called the broker and they said it tough. I am in contract. What can I do? Its all too stressful, and the contract doesn't start until march next year!
    On the face of it, you have signed two contracts which both parties could hold you to. If you can't come to some agreement with one or both suppliers then I think you need legal advice.

    Edit
    As a domestic customer you would be entitled to a cooling-off period from the new supplier but I'm not sure whether SMEs have the same right.

    If you are entitled to a cooling-off period from the new supplier then you should contact them direct to cancel the switch within that period. The broker is probably not willing to help because they will get a commission from the supplier if you switch through them.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • oldkingtomcole
    oldkingtomcole Posts: 1 Newbie
    Hello, I'm moving into rented accommodation with my partner in 2 weeks time. We've been renting a room in a house so haven't been paying energy bills.
    Could anyone advise us on the best deal/s for energy. I believe the electric is on a prepay meter, but I don't think the gas is.
    Thanks in advance
  • Consumerist
    Consumerist Posts: 6,310 Forumite
    Name Dropper First Post First Anniversary
    edited 28 June 2017 at 1:40PM
    oldkingtomcole wrote: »
    Hello, I'm moving into rented accommodation with my partner in 2 weeks time. We've been renting a room in a house so haven't been paying energy bills.
    Could anyone advise us on the best deal/s for energy. I believe the electric is on a prepay meter, but I don't think the gas is.
    Thanks in advance
    Best advice is to use an energy comparison site or two (e.g. MSE Cheap Energy Club) to get quotes from several suppliers all at once.

    Since you don't really know what your annual consumption is likely to be, you can use <Ofgem's Typical Domestic Consumption Values> for your quotes on the comparison site.

    You will need to check your tenancy agreement to make sure it is you who pays for energy used in the property. If the landlord pays for energy then you will not have much choice as to supplier and tariff.

    Edit
    You may find this <MSE article> of some interest.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Bexie111
    Bexie111 Posts: 2 Newbie
    Hi

    I'm not sure what to do about switching my gas and electricity. My combined tariff is due to end at the end of August. I usually just find the cheapest option after filling in my yearly usage in an online calculator but I'm wondering if I should do something different. My electricity usage is pretty much the same every month but my gas usage fluctuates enormously. I know I can't be the only one.

    In the summer months (June - Aug) I only use about 20kWh for the whole month. May and September were closer to 200kWh. Then in December and January I'm using around 1600kWh and 1200kWh in November and February.

    When I put the yearly usage in the online calculator, it averages it out, so I think I'm probably not getting the best deal on gas because of the variation in daily charges to kWh charges.

    Does everyone else in my position change their gas tariff twice a year? And what do you do about exit charges etc.

    Should I separate my gas and electricity to get a good fixed electricity tariff that lasts a while longer?

    Any polite advice would be welcome! Thanks.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
    Name Dropper First Post First Anniversary
    Bexie111 wrote: »
    . . . Any polite advice would be welcome! Thanks.
    The cheapest deals normally require a year's fixed contract anyway so your annual consumption is really what matters. To be able to switch at shorter intervals would normally mean being on a variable tariff which tends to be more expensive than fixed.

    Getting your energy from different suppliers, however, can work out cheaper than a dual fuel deal - but fixed tariffs are still generally cheaper than variable. An added bonus is that it gives you an additional direct debit if you need one for current account benefits (e.g. interest or rewards).

    Don't worry about variations in consumption throughout the year - we nearly all have that.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Hi - you could switch to a no standing charge supplier for gas from April through to September but I am not sure that it is worth it for electricity. Having said that, my gas daily charge at the moment is only 33p! I use two separate suppliers for gas and electricity as it works out well for me at the moment.

    FWiW, I switched my gas supply in May - 6 months early - to secure a good price for this coming Winter. I was on a tariff with no exit fees. As gas usage is my biggest variable, I usually run three comparisons: annual usage and then plus/minus 10 to 15%. This may give a different cheapest supplier result. Where possible, I favour the supplier with the lowest unit price but at times it isn’t that simple. Cashback etc are secondary considerations.

    Only you can judge whether the hassle of Winter/Summer switching is worth what might be a very modest saving. Best of luck.
  • Drummerboytom
    Drummerboytom Posts: 2 Newbie
    Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Drummerboytom wrote: »
    Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?

    Check what assumed annual consumption (kWhs/year not £s) your supplier is using to come up with the annual projected cost? Suppliers DO NOT offer special deals to existing customers. Ignore all projected savings. Ofgem accredited PCWs and suppliers are required to use the same methodology and the same tariffs. MSE CEC shows all tariffs; some PCWs do not. Suppliers also tend to show prices ex VAT whereas PCWs include VAT.
  • footyguy
    footyguy Posts: 4,157 Forumite
    Combo Breaker First Post
    edited 15 July 2017 at 9:50PM
    Drummerboytom wrote: »
    Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?

    Welcome to MSE.

    Are you saying the supplier has offered you a tariff that is not shown on the CEC?
    If so, who is your current supplier, and what tariff (name) have they offered you?

    Or are you saying the annual cost is different?
    If so. ensure you are using the same anticipated annual consumption figures your suppolier has used.

    Hopefully the supplier has provided you with details of the new tariff (unit price, satnding charge, etc). Compare these details to that shown on the CEC.

    If they are the same on the CEC as the supplier provided, then you will have to do the calculation yourself and see who has given you the correct calculation
  • Drummerboytom
    Drummerboytom Posts: 2 Newbie
    footyguy wrote: »
    Welcome to MSE.

    Are you saying the supplier has offered you a tariff that is not shown on the CEC?
    If so, who is your current supplier, and what tariff (name) have they offered you?

    Or are you saying the annual cost is different?
    If so. ensure you are using the same anticipated annual consumption figures your suppolier has used.

    Hopefully the supplier has provided you with details of the new tariff (unit price, satnding charge, etc). Compare these details to that shown on the CEC.

    If they are the same on the CEC as the supplier provided, then you will have to do the calculation yourself and see who has given you the correct calculation

    The proposed new tarriff is on CEC .
    The annual projection by supplier and CEC don't match using same annual usage (kw/h) -
    (Gas is lower on one and Electric lower on the other) which is confusing enough but of most concern is when i do the calculation on the actual rates detailed by the supplier for Gas it is coming out over double the figure they are quoting in the text of the letter. :mad:

    Who said switching was easy ? :(
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