Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • aerodrum
    • By aerodrum 5th Dec 17, 3:00 PM
    • 3Posts
    • 0Thanks
    aerodrum
    Martin is not accurate enough!
    • #1
    • 5th Dec 17, 3:00 PM
    Martin is not accurate enough! 5th Dec 17 at 3:00 PM
    When advising the Nation about switching, one BIG fact is always missing from ML's advice and that is: As you come towards the end of your fixed year (the last 49 days) get your current supplier to email to you your NEXT FIXED TARIFF's price they would be putting you on and then make the comparison against the rest of the market. A lot of comparison sites either compare your CURRENT tariff or the SV tariff you would be going onto. That is not accurate enough. I have just switched 49 days before expiry (therefore no penalty payable), from OVO to Breeze. Compare prices and see what I mean. Martin, are you hearing me?
Page 1
    • Hengus
    • By Hengus 5th Dec 17, 3:33 PM
    • 4,633 Posts
    • 2,805 Thanks
    Hengus
    • #2
    • 5th Dec 17, 3:33 PM
    • #2
    • 5th Dec 17, 3:33 PM
    When advising the Nation about switching, one BIG fact is always missing from ML's advice and that is: As you come towards the end of your fixed year (the last 49 days) get your current supplier to email to you your NEXT FIXED TARIFF's price they would be putting you on and then make the comparison against the rest of the market. A lot of comparison sites either compare your CURRENT tariff or the SV tariff you would be going onto. That is not accurate enough. I have just switched 49 days before expiry (therefore no penalty payable), from OVO to Breeze. Compare prices and see what I mean. Martin, are you hearing me?
    Originally posted by aerodrum
    Welcome to the forum. MSE CEC is only quoting the methodology prescribed by Ofgem. At the moment - but things are in the process of changing - suppliers are not allowed to move you to another fixed contract without your approval; hence, the next 12 months cost has to be based on 2 knowns: months left on present tariff plus 12- months left on SVT.

    MSE CEC also shows a simple cost for 12 months on present tariff compared to costs for 12 months on these tariffs.

    Note: the Ofgem methodology is only flawed for consumers on fixed contracts with less than 12 months to run.
    • bonus2010
    • By bonus2010 5th Dec 17, 5:03 PM
    • 114 Posts
    • 42 Thanks
    bonus2010
    • #3
    • 5th Dec 17, 5:03 PM
    • #3
    • 5th Dec 17, 5:03 PM
    I thought Martin Lewis did a good explanation on Ofgem’s regulated projection method of providing the wrong answer in this video.

    Since watching this I don’t pay any attention to comparison site's estimated savings and instead rely on my own calculations.

    https://www.youtube.com/watch?v=mm3IjUWgDTs
    • aerodrum
    • By aerodrum 5th Dec 17, 5:08 PM
    • 3 Posts
    • 0 Thanks
    aerodrum
    • #4
    • 5th Dec 17, 5:08 PM
    • #4
    • 5th Dec 17, 5:08 PM
    Precisely my point bonus2010.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

955Posts Today

6,014Users online

Martin's Twitter