Estimated Savings from Comparson Sites Doesn't Add Up

Bigun28

Trying to switch my gas and electric and I’m a little confused. Currently I’m with British Gas Websaver 2 and have just come off of a year long tie in. The rates are still the same as when I signed up.

When I go through the comparison sites to find out who is the cheapest, I list that I am on Websaver 2 so that I can compare. Scottish Power Online Energy reward always seems to come out on top in all the sites for the cheapest dual fuel in my area, and most of the sites quote a saving over about £200 when compared to British Gas Websaver 2.

When I go through Simply Switch and compare the unit prices, it quotes that I will save £242.01 overall annually by taking the dual fuel option with Scottish Power. But comparing the unit prices gives a Websaver 2 total bill for me of £1077.65 with Scottish Power quoting £1077.95, and the quotes using the unit prices also seem to include any discounts offered.

The question is, will I save money through switching? How is the estimated saving of £242.01 calculated? The comparison websites seem to indicate that I will save, but I looking at the calculations with the unit prices doesn’t seem to support this.

Cardew

Are you sure that you have taken all the Scottish power discounts into account?

Online Energy Reward discount of £105 per year. Dual fuel discount of £16.80 per year. Online discount of £15.75 per year.

That said I am surprised that SP is £242 cheaper than Websaver 2 in my area(Midlands) on your consumption SP is about £140 cheaper - although savings do vary according to area.

lolly5648

Randal wrote: »

When I go through Simply Switch and compare the unit prices, it quotes that I will save £242.01 overall annually by taking the dual fuel option with Scottish Power. But comparing the unit prices gives a Websaver 2 total bill for me of £1077.65 with Scottish Power quoting £1077.95, and the quotes using the unit prices also seem to include any discounts offered.

The comparison websites seem to indicate that I will save, but I looking at the calculations with the unit prices doesn’t seem to support this.

I have found the same thing - using the comparison sites it say I will save around £150 but using the figures on the SP website and working it out by units it comes to about the same as I am paying now, even taking off all the relevant discounts.

lolly5648

Robert2009 wrote: »

Putting money amounts into comparison websites is a waste of time.

You need to put in your usage figures in kWH NOT money

Rob

I have always put Kwh into comparison sites. As I have dual fuel I have no idea how much I spend on the individual fuels without a lot of working out so I put in yearly consumption.

JasX

lolly5648 wrote: »

As I have dual fuel I have no idea how much I spend on the individual fuels

well that is very odd, if you are 'guessing'at kWH figures of course you're going to get similar 'guestimates' back and nobody will have much of an idea.

find an old bill with individual gas/electricity useage figures in kWH and use those, then look at total cost rather than 'saving'. that bit will be accurate

Premier_2

lolly5648 wrote: »

I have always put Kwh into comparison sites. As I have dual fuel I have no idea how much I spend on the individual fuels without a lot of working out so I put in yearly consumption.

If you do not know what your consumption is in kWh, call your supplier who will give you that information



As for comparing unit prices - totally meaningless. If it was that simple, there would be no need for comparison sites, just a list of each suppliers unit prices ... and everyone would go with the supplier offering the cheapest unit prices putting all the other suppliers out of business. You need to fully calculate the cost according to all the costs & discounts specified in the tariff - something the comparison sites do for you.

notbritishgas

With the Scottish Power energy reward tariff it is easy to forget the annual £105 discount as cardew has said earlier. This discount will be paid as a lump sum credit to your account in June 2011.
I am just switching to this tariff from npower and I did the calculations using the unit prices and discounts and it came to the same saving as energy helpline quoted.