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Anyone using First Utility and their SmartMeter thingy?

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Mummy2K
Mummy2K Posts: 30 Forumite
Hi All,
Just had a link sent to me for First Utility. They provide you with a 3 band tariff split into morning, peak and evening rates and a smart energy meter so you can see where you are using energy for free. Apparantley as they can see what you are using down to the last half hour you'll never get an estimated bill and only ever pay for what you use. Sounds all too good to be true and it looks like their tariff is a lot cheaper overall than my EDF dual fuel tariff. Well, I think so as my last bill might as well be written in greek as I can't understand it at all!

Just interested to see if anyone has sugned up for this and their opinion on it.

Thanks!

Comments

  • Magentasue
    Magentasue Posts: 4,229 Forumite
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    Doesn't even come on the first page of a comparison site for me - your tariff must be very expensive!
  • mech_2
    mech_2 Posts: 620 Forumite
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    It comes near the top for me. Only £5.39 a year more than I am paying at the moment. If it weren't for the lock-in I might have signed up just out of curiosity to see what the smart meters are like.
  • Garz
    Garz Posts: 308 Forumite
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    It came near the top for me too, I would like some feedback from a current customer and im interested in what meter they are actually fitting that they are using for the domestic market.
    Please support my thanks button if I have been of any help
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  • Joyful
    Joyful Posts: 2,426 Forumite
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    These smart meters will eventually be rolled out across the Country. British gas is trialling them in certain areas at the moment. I have put my name down to be a guinea pig as I work for them. I would say if a company is offering different prices at different times it may work out for some people but circumstances can change in 18 months ie new baby so you would have to do your homework before signing up to it. Check throughout the day and weekend when you use energy. See if you can break it down to the timebands given and then see what price they charge for how many units each day. Then look at the price for your units with your current supplier to compare.

    What they say about no more estimated bills and tracking your energy is correct. When these are all rolled out there should be no more meter disputes unless they are faulty.

    You should never change suppliers until you understand your current bill otherwise you may be jumping from the frying pan to the fire.
    Self Employed, Running my Dream Jobs
  • 1carminestocky
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    First Utility is definitely nearer the top of my comparison site table than it used to be. Only problem is the comparison data is all over the place at the moment as they haven't all announced price cuts (altho' First Utility have). I woudl never sign up for them, though. Why 'commit' to such a long contract when you don't know what they are going to do with their prices in that period? :confused: Their 'business model' looks expensive to me (in the sense that they HAVE to install a new meter for every new customer) and that tells me they will have to get that money back somewhere (can't imagine the exit fee will anywhere near cover costs). Anyone know how they source their fuel? Do they buy it at 'genuine' wholesale prices or have they partnered with one of the Big 6?
    Call me Carmine....

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  • Magentasue
    Magentasue Posts: 4,229 Forumite
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    Have just run through uswitch and they're still on page 2 for me (£80more expensive dual fuel) but would save me money on electricity only (£25). £50 penalty for leaving, no switching cashback. Not ready yet. EDF would be cheapest for me at moment.
  • Cardew
    Cardew Posts: 29,042 Forumite
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    First Utility 'Jumped the gun' and were the first to reduce prices - and all credit to them for doing so.

    However they are still not the cheapest and I suspect will drop down the list when price reductions from the rest kick in.

    Long contracts - no certainty what they will do with their prices - Their 3 types of tariff make it even more complex to work out what is best.

    Not for me I am afraid
  • Vestra
    Vestra Posts: 856 Forumite
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    They are showing as second cheapest for me after nPower but in my area and for my consumption my savings are minimal between different suppliers.
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