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Budget energy
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# 1
attritioner
Old 10-08-2011, 2:30 PM
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Default Budget energy

Has anybody made the move to Budget Energy (www.budgetenergy.co.uk) yet? We had a sales rep call at our door yesterday and left a flyer. I'm currently on airtricity but there seems to be further savings by switching.

From the website:

"Rate as of 05/07/11 is 11.83 pence per unit (exc. VAT) if choosing to pay by Direct Debit
Your Direct Debit will be collected on the 28th of each month based on your historical annual consumption

Your meter will still be read by NIE T&D quarterly and Budget Energy will issue you with a reconciled Quarterly Bill

If any amendments are needed to your monthly direct debit we will notify you in writing at least 10 days before the 28th of the month"

Any feedback welcome?
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# 2
RTNI
Old 10-08-2011, 2:59 PM
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Pity they don't seem to do a quarterly DD - what happens to any credit that you build up as a result of not using as much energy as the previous year? I assume that the DD amount is reduced to reflect that overpayment?

I too would welcome any feedback from others who have switched to Budget Energy.

Attritioner - whereabouts in the country are you?
Regards, Robin.
2011 MFW # 34
Mortgage starting balance at Sept 09 - 127,224 on 30 year term. Currently balance approx 116,945 (Updated Jan '12)
Estimated MFD - Sept 2039
, April 2031 (in progress!)
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# 3
andyp1708
Old 18-08-2011, 9:57 PM
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RTNI - they do provide the option of paying once a quarter, but anyone who chooses to use this option must pay a 250 deposit, as this will help mitigate the risk of not getting paid...

Customers are also encouraged to provide regular meter readings to help improve the accuracy of their bills, but if any credit is accrued, this can be used to reduce the monthly direct debit amount...

Also, NIE T&D send their quarterly meter reads to Airtricity and Budget Energy...

Budget Energy's advantage is that they don't hold anyone to contracts, so I'm happy I've made the switch... If a cheaper competitor enters the market (or an existing competitor undercuts them), I can simply leave...no hassle..!!
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# 4
Golden Anemone
Old 18-08-2011, 10:22 PM
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*whispers so no-one else can hear* dmxdave - this thread was first.
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# 5
dmxdave
Old 18-08-2011, 10:25 PM
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Quote:
Originally Posted by Golden Anemone View Post
*whispers so no-one else can hear* dmxdave - this thread was first.
OOPS
Dave
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# 6
Ex-Spendaholic
Old 22-08-2011, 12:18 AM
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Now we no longer have a monopoly situation, do you think these providers will feature in u switch?
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# 7
36square
Old 22-08-2011, 12:40 AM
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[QUOTE=dmxdave;46202885]Why not have a wee read before creating a new thread? http://forums.moneysavingexpert.com/...053[/QUOTE]

At least this thread is actually about money saving which is all too rare in the NI forum.
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# 8
hazelc56
Old 04-09-2011, 3:28 PM
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Only just found this thread,I have been on both the Budget Energy and Airtricity sites and have noticed that Airtricity charges 5 for topping up Online and by Phone whereas Budget Energy DO NOT charge.This was under the Keypad meter section.It would seem that Budget Energy is the better option......hopefully.
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# 9
wifeforlife
Old 04-09-2011, 9:12 PM
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I've just completed the forms to switch to budget, I reckon the short term gains even if they can't sustain the lower costs as opposed to powerni or airtricity is worth it. Maybe powerni losing more customers may make them more competitive.

It's worth a punt!
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# 10
Golden Anemone
Old 04-09-2011, 9:25 PM
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Are you moving from PowerNI or Airtricity Cate? I moved to Airtricity last year and am not sure the halfpenny a unit is worth moving again.
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# 11
wifeforlife
Old 04-09-2011, 9:41 PM
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Quote:
Originally Posted by Golden Anemone View Post
Are you moving from PowerNI or Airtricity Cate? I moved to Airtricity last year and am not sure the halfpenny a unit is worth moving again.
PowerNI

Have you compared your savings from powerni to airtricity since you moved last year?
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# 12
hazelc56
Old 05-09-2011, 12:05 AM
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Quote:
Originally Posted by cathy2702 View Post
I've just completed the forms to switch to budget, I reckon the short term gains even if they can't sustain the lower costs as opposed to powerni or airtricity is worth it. Maybe powerni losing more customers may make them more competitive.

It's worth a punt!
I agree with you on that score cathy.
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# 13
Golden Anemone
Old 05-09-2011, 12:30 AM
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Quote:
Originally Posted by cathy2702 View Post
PowerNI

Have you compared your savings from powerni to airtricity since you moved last year?
Yeah - I saved about 66 before VAT over the first 13 months. Not sure if my next bill will be at the slightly higher year 2 tariff - will know at end of September.

Based on last year's usage, about 4,500 units, I could save another 20 by moving to budget but I would be going back to an estimated monthly direct debit rather than 2 monthly actual bills and I'm not sure I want to do that. Still weighing it up.
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# 14
hazelc56
Old 05-09-2011, 5:17 PM
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I have just signed up with Budget Energy.I have a keypad meter.They have told me that it will be 13% cheaper than NIE, for keypad users and 17% for bill paying customers and will always stay that way which sounds a good deal.They dont charge for online and telephone top-ups like Airtricity currently do.There is no contract so you can switch whenever you want if Budget Energy doesnt suit you.
The minimum online and telephone top up amount is 10 which once again is better than having to fork out the 15 each time with NIE,especially if you dont happen to have that amount spare at the time.This all sounds a good deal to me so i really hope its all that it proposes to be.
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# 15
declanmcc
Old 06-09-2011, 9:47 AM
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Are Budget Energy putting their prices up on October 1st like the other lecky suppliers? Don't see anything on their website about % increase
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# 16
rolo1
Old 06-09-2011, 3:17 PM
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From Budget energy website.......................

No Price Increase at Budget Energy

25/08/2011



The Utility Regulator today announced that PowerNI would be increasing their electricity prices by 18.6% from the start of October. Airtricity also announced a similar increase.

BudgetEnergy will continue to maintain its lower rates and track the wholesale price.
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# 17
hazelc56
Old 06-09-2011, 5:21 PM
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Quote:
Originally Posted by declanmcc View Post
Are Budget Energy putting their prices up on October 1st like the other lecky suppliers? Don't see anything on their website about % increase
Declan as i mentioned on my post above,i signed up yesterday with Budget energy and the girl whom i spoke to said that regardless of whether they do in the future put their prices up they would STILL be and ALWAYS will be 17% cheaper for bill payment customers than NIE and 13% cheaper for keypad meter customers than NIE
The good thing about them is that there is no contract as with Airtricity so you can switch to another company if it turns out that Budget energy doesnt suit you.And they dont charge you a fiver if you are a keypad user for your online or telephone transactions like Airtricity do.Airtricity needs to review this policy of charging 5 for the phone and online service as its seems to be a right take on.For example if you buy 20 electricity online or by phone you are actually only going to get 15 worth of energy after they take your 5 off it.Not good at all
I am waiting on some literature which they will be sending me shortly and will look specifically for this for you.I will keep you posted on it.
NOTE.... I have noticed that under the heading of Budget energy - BILL PAY tab on the site it states, "If any amendments are needed to your monthly direct debit we will notify you in writing at least 10 days before the 28th of the month."
Perhaps this is their way of saying that there may be a rise at some stage in the future.
Declan key into their search box" will budget energy raise its prices"? The answer comes back that they wont be.



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# 18
yorkie98
Old 07-09-2011, 3:29 PM
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I have to say, the cheaper electricity at Budget Energy looks tempting but I am personally proceeding with caution.
PowerNI are still in a dominant position and the danger here is that the alternative suppliers are pinning their price to that of PowerNI, this means that it makes it nearly impossible for PowerNI to compete on price but it plays right into their hands and PowerNI will easily be able to put these companies out of business and quickly and it's the likes of Airtricity and Budget who are leaving themselves vulnerable with their own pricing policy.

PowerNI will bide their time and give their rivals enough rope to hang themselves by gaining a significant amount of customers then they will drop their own price to something like wholesale cost+5%.
This will mean that the other suppliers tied in to deals to charge between 8 and 20% percent less than PowerNI will have to drop theirs too and will be selling at a loss.
This will kill off the competition and leave them to charge whatever they like, just like the good old days.
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# 19
saverbuyer
Old 07-09-2011, 3:46 PM
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Quote:
Originally Posted by yorkie98 View Post
I have to say, the cheaper electricity at Budget Energy looks tempting but I am personally proceeding with caution.
PowerNI are still in a dominant position and the danger here is that the alternative suppliers are pinning their price to that of PowerNI, this means that it makes it nearly impossible for PowerNI to compete on price but it plays right into their hands and PowerNI will easily be able to put these companies out of business and quickly and it's the likes of Airtricity and Budget who are leaving themselves vulnerable with their own pricing policy.

PowerNI will bide their time and give their rivals enough rope to hang themselves by gaining a significant amount of customers then they will drop their own price to something like wholesale cost+5%.
This will mean that the other suppliers tied in to deals to charge between 8 and 20% percent less than PowerNI will have to drop theirs too and will be selling at a loss.
This will kill off the competition and leave them to charge whatever they like, just like the good old days.
Why would that matter to you? If you have 12 months saving and budget went bust (highly unlikely in a regulated market) you will sit have saved money during the 12 months.

I suspect the key for PowerNI here is customer showing such irrational locality to a big corporate. They dont really care about you. You know that. They care about bottom line. You should do the same.

I would also imagine if Budget or any other supplier went bust a new entrant would come in and try to beat PowerNi on price.

There really is nothing for you to lose her.
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# 20
hazelc56
Old 07-09-2011, 3:57 PM
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Quote:
Originally Posted by stevenc75 View Post
I'm pretty sure that this would be a breach of anti-competition laws. Ofreg may also have something to say about it.

I've just signed up for Budget. There's no contract so I'll take the saving and watch how it goes.
The girl i spoke via phone yesterday on budget energy told me that they will ALWAYS be 13% cheaper than Power NI/NIE. (keypad)and 17% cheaper for bill paying customers. Thats good enough for me.And besides that if i find theres a con along the way i will simply switch again as theres no contract involved.
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