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Switching to Scottish Power Online 7 tariff for £110 Cashbac even with Penalty Clause
Read a previous thread on the SP £110 cashback and someone suggested do some as SP prices can be higher, so done the below:-
I am a serial switcher and just got my EON Cashback.
Ready to switch again and tempted with SP online 7 tariff and £110 cashback.
I done my sums .
Assuming the switch happens on 1 Dec, my 4 month usage is 10, 068KWH (based on last yr), I put this on the smartmeter uk power website and it shows :- If staying with EOn on SaveOnline it will cost me £370. If Switch to SP online 7, it will cost me £288. Of course I have £50 exit fee when leaving so = £388. With the £110 cashback it = £228. So I would be better off with a 4 month switch to SP online 7 (£288), Compared to staying with Eon Saveonline (£370). Does this make sense, calculations correct?
I do understand that SP online 7 is 17% more cheaper and can go down to 3%, then this would be SP 288+17%= £336+ £50fee = £386 - £110 QC = £276, Still Better off??
I am a serial switcher and just got my EON Cashback.
Ready to switch again and tempted with SP online 7 tariff and £110 cashback.
I done my sums .
Assuming the switch happens on 1 Dec, my 4 month usage is 10, 068KWH (based on last yr), I put this on the smartmeter uk power website and it shows :- If staying with EOn on SaveOnline it will cost me £370. If Switch to SP online 7, it will cost me £288. Of course I have £50 exit fee when leaving so = £388. With the £110 cashback it = £228. So I would be better off with a 4 month switch to SP online 7 (£288), Compared to staying with Eon Saveonline (£370). Does this make sense, calculations correct?
I do understand that SP online 7 is 17% more cheaper and can go down to 3%, then this would be SP 288+17%= £336+ £50fee = £386 - £110 QC = £276, Still Better off??
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