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    • Helpmeoutofthismess
    • By Helpmeoutofthismess 6th Oct 17, 5:09 PM
    • 366Posts
    • 276Thanks
    Helpmeoutofthismess
    Comparison sites when your fixed price tarrif is ending
    • #1
    • 6th Oct 17, 5:09 PM
    Comparison sites when your fixed price tarrif is ending 6th Oct 17 at 5:09 PM
    Hi, I am desperate to get away from Scottish power, I regretted switching because they made such a mess of it!

    My fixed price ends 31/1/18 so even though I'm putting in the actual kWh's used in the last 12 months, my projection for the next 12 months is nearly double as they use 9 months at the standard rate 😡

    How can I get a proper calculation? I know gas/elec prices have gone up a lot but last year I spent £896, next years projection is a massive £1519 and the cheapest tarrif will save £160, that's £463 more than I paid last year, surely that can't be right?

    H x
Page 1
    • Hengus
    • By Hengus 6th Oct 17, 6:01 PM
    • 4,635 Posts
    • 2,809 Thanks
    Hengus
    • #2
    • 6th Oct 17, 6:01 PM
    • #2
    • 6th Oct 17, 6:01 PM
    Use MSE Cheap Energy Club as it shows the Ofgem-mandated calculation* AND a simple ‘this is what you are paying now for 12 months’ compared to ‘this is what you will pay on this tariff for the next 12 months’.

    Expect to pay a lot more for your energy: there are no savings to be made at the moment.

    * comparisons when you are on a fixed tariff with less than 12 months to run can show a saving along with an increased cost. The comparison is based on a cost projection of 12 months (x months on present tariff plus 12 -x on SVT) which leads to an inflated cost. You then select another fixed tariff which costs less than the inflated cost (hence the saving) but the next fixed tariff costs you more. In fairness to Ofgem, an assumption has to be made about future costs. The methodology is only flawed for consumers on fixed term tariffs with less than 12 months to run. For the 70% of consumers on a SVT, the calculation works and suits Ofgem’s policy of encouraging people to switch.
    • Helpmeoutofthismess
    • By Helpmeoutofthismess 6th Oct 17, 7:45 PM
    • 366 Posts
    • 276 Thanks
    Helpmeoutofthismess
    • #3
    • 6th Oct 17, 7:45 PM
    • #3
    • 6th Oct 17, 7:45 PM
    Use MSE Cheap Energy Club as it shows the Ofgem-mandated calculation* AND a simple ‘this is what you are paying now for 12 months’ compared to ‘this is what you will pay on this tariff for the next 12 months’.

    Expect to pay a lot more for your energy: there are no savings to be made at the moment.

    * comparisons when you are on a fixed tariff with less than 12 months to run can show a saving along with an increased cost. The comparison is based on a cost projection of 12 months (x months on present tariff plus 12 -x on SVT) which leads to an inflated cost. You then select another fixed tariff which costs less than the inflated cost (hence the saving) but the next fixed tariff costs you more. In fairness to Ofgem, an assumption has to be made about future costs. The methodology is only flawed for consumers on fixed term tariffs with less than 12 months to run. For the 70% of consumers on a SVT, the calculation works and suits Ofgem’s policy of encouraging people to switch.
    Originally posted by Hengus
    Thanks for the info but 😱 Should I really be expecting to pay over £450 for the next 12 months 😕

    H x
    • Hengus
    • By Hengus 6th Oct 17, 7:54 PM
    • 4,635 Posts
    • 2,809 Thanks
    Hengus
    • #4
    • 6th Oct 17, 7:54 PM
    • #4
    • 6th Oct 17, 7:54 PM
    Cost depends on your projected usage and postcode. Have you looked at separate suppliers for gas and electricity: they can often be cheaper than a dual fuel deal?
    • footyguy
    • By footyguy 7th Oct 17, 11:51 AM
    • 3,863 Posts
    • 1,534 Thanks
    footyguy
    • #5
    • 7th Oct 17, 11:51 AM
    • #5
    • 7th Oct 17, 11:51 AM
    Thanks for the info but 😱 Should I really be expecting to pay over £450 for the next 12 months 😕

    H x
    Originally posted by Helpmeoutofthismess
    Consult a comparison site to find the best deal for you.

    They all show the annual cost based on the usage figures you provide for the tariffs shown.
    (Not to be confused with projected savings, but some comparison services such as the CEC, EHL, etc also allow you to see those based on the historical cost paid, as opposed to the forward cost if you do nothing, which is what I think you are trying to get at in your OP)

    • Bark01
    • By Bark01 7th Oct 17, 4:28 PM
    • 770 Posts
    • 244 Thanks
    Bark01
    • #6
    • 7th Oct 17, 4:28 PM
    • #6
    • 7th Oct 17, 4:28 PM
    Use MSE Cheap Energy Club as it shows the Ofgem-mandated calculation* AND.....
    Originally posted by Hengus

    The Ofgem calculation is on the verge of being removed. I thought it had already stopped being mandatory but I may be wrong.

    https://www.ofgem.gov.uk/publications-and-updates/decision-publish-statutory-consultation-enabling-consumer-make-informed-choices-proposed-changes-rules-around-tariff-comparability-and-marketing


    https://www.ofgem.gov.uk/publications-and-updates/personal-projection-updated-thinking-way-forward
    • Hengus
    • By Hengus 7th Oct 17, 5:15 PM
    • 4,635 Posts
    • 2,809 Thanks
    Hengus
    • #7
    • 7th Oct 17, 5:15 PM
    • #7
    • 7th Oct 17, 5:15 PM
    The Ofgem calculation is on the verge of being removed. I thought it had already stopped being mandatory but I may be wrong.

    https://www.ofgem.gov.uk/publications-and-updates/personal-projection-updated-thinking-way-forward
    Originally posted by Bark01
    Decision in the Autumn. Ofgem seems to prefer what I would describe as the chaos option. You choose your PCW and it decides on the methodology which then has to be applied consistently across the site.
    • Bark01
    • By Bark01 2nd Nov 17, 10:43 AM
    • 770 Posts
    • 244 Thanks
    Bark01
    • #8
    • 2nd Nov 17, 10:43 AM
    • #8
    • 2nd Nov 17, 10:43 AM
    The final consultation paper is out:

    https://www.ofgem.gov.uk/system/files/docs/2017/11/statutory_consultation_-_estimated_annual_costs_for_domestic_consumers.pdf
    1. Suppliers and switching sites can do their own things as long as they are consistent to themselves
    2. At the end of a fixed term contract they can choose to either assume a move to standard tariffs of quote based on the prices the customer is currently paying
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