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    • slugslime
    • By slugslime 10th Sep 17, 9:12 PM
    • 3 Posts
    • 2 Thanks
    slugslime
    Switch Energy Supplier
    I have lived in my house for over 15 years. In that time I have switched energy suppliers at least 7 times. Why? To save money! I was with GB Energy which went out of business. Was I worried? Of course not as I know Ofgem would sort it out and Co-op Energy came to the rescue honouring my fixed deal with GB. That is now coming to an end so I have just switched to Tonik Energy. Why? A cheaper tariff plus they offer 3% on credit balances- better than most savings accounts! There are also no exit fees so if I am not happy I can leave without a penalty. Don't be put off by the lesser known companies- the big 6 rely on complacency. Do a comparison through MSE (it takes just a few minutes) and you will me amazed at the savings.
    • phillw
    • By phillw 11th Sep 17, 8:14 AM
    • 827 Posts
    • 435 Thanks
    phillw
    I personally, research any of the smaller unknown companies, and i certainly wouldn't use a company with little information available or with a director who has owned previous companies which have gone into liquidation, for instance.

    Conversely, maybe for the uninitiated, maybe you would see a company you haven't heard of offering a low price and be tempted to use that company surely, if you are influenced solely by price?
    Originally posted by fredandwilma
    What else are you influenced on? How do you quantify that when comparing?

    What effect do you think a directors previous job will have on you?

    How much extra money are you prepared to pay for the knowledge that a director hasn't previously been a director of a company that has gone bankrupt?

    We need an energy competition framework where there's a measurable service metric, audited by mystery shoppers, and where below standard companies lose their license to supply energy.
    Originally posted by buglawton
    We would have zero energy suppliers at the end of that. I have had problems with eon, npower & british gas. None so far with iresa.
    Last edited by phillw; 11-09-2017 at 8:34 AM.
    • Consumerist
    • By Consumerist 11th Sep 17, 1:32 PM
    • 4,631 Posts
    • 2,303 Thanks
    Consumerist
    . . . I was with GB Energy which went out of business. Was I worried? Of course not as I know Ofgem would sort it out and Co-op Energy came to the rescue honouring my fixed deal with GB. . .
    Originally posted by slugslime
    I think, perhaps, that GB Energy customers were quite lucky.

    There is no guarantee that the customers of failed energy companies will keep either their tariff rates or credit balances with a supplier of last resort in the future. If, as predicted, there are more small-supplier failures in the pipeline, I don't anticipate any rush by, say, the big six to pick them up on the bargain-basement terms the smaller suppliers are offering.

    My suggestion would be to proceed with caution if considering a smaller supplier.
    Warning: In the kingdom of the blind, the one-eyed man is king.
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