heavy going, choosing supplier

joec90

Why is it so difficult to choose a supplier?
Am currently on the EON standard tarrif, and although a year ago it was competitive, obviously the !!!!!!s don't like to make it easy to retain a good deal.
So, even though Scottish Power online deals seem to be top of the list, is it worthwhile changing? eon haven't announced their price rises.

The alternative is to swap to a better EON deal, but I would loose any financial incentive from quidco/moneysupermarket. I would also then be tied in, if they put a large hike on the prices, I wouldn't be able to bail out.
Do the comparison sites build in the march price rises into their calculations?

davidgmmafan

"Do the comparison sites build in the march price rises into their calculations?"

Not sure what you mean by this. As you say E.On haven't announced what they are doing with prices, and EDF have said they won't increase until March. I've no idea how the comparisons could include price rises which haven't been announced yet.

If you have your usage for a year in Kwh's then the saving showing on a comparison should be genuine. Just look out for dirty tricks, like charges that tie you in or NPower's DD trick - its not done pro rata so if you leave before 12 months you wouldn't get any of the discount (which is included in the comparison).

joec90

Obviously they wont be able to include unannounced price rises, but do they take account of the already announced ones?
Or are the prices on the current tarrifs, which mean in three months time, they will be totally out of date, and I could be facing financial penalties if I want to swap again? A lot of the good deals have tie ins.
A quick calculation gives 7200KWh Gas, and 3500KWh Elec per year.

I have been reading up on the forums etc, but it seems to all be guesswork and pot-luck at the moment

Airmike23

Bear in mind you are never tied in to a power company, legal obligation is a 28 day contract (rolling), that is why the power co's charge early termination fees to dissuade folks from leaving the cheapest deals before they expire, but you are not obliged to stay on any tariff, or with any provider for any set period of time, they CANNOT make you do that, as a consumer you then have to weigh up if you sign up to a tariff with a canx charge, when you switch, to make that switch worth while savings with new company must at least meet cost of canc charge with supplier you're leaving

joec90

I'm just trying to work out accurately (I'm a scientific bod) which will be the cheapest supplier for the next year,
I will probably sign up for scottish power energy saver 12 (although on quidco, they mention ESaver 11) with the £62 cash back.
It's a bit of a minefield, when it's almost impossible to accurately compare the competition.
thanks for the replies...

davidgmmafan

So what is your annual usage in Kwh? Without that its going to be guesswork I'm afradid. I believe the comparisons would factor in the price rises. I believe mot of them have started or are about to shortly so IMO it would be a poor show on the part of the comparison site if it didn't use the new prices.

There is usually a drop down box which gives you more detail on a quote.

patricia1066

davidgmmafan wrote: »

So what is your annual usage in Kwh? Without that its going to be guesswork I'm afradid. I believe the comparisons would factor in the price rises. I believe mot of them have started or are about to shortly so IMO it would be a poor show on the part of the comparison site if it didn't use the new prices.

There is usually a drop down box which gives you more detail on a quote.

The only reliable quotes to take will be fixed rate ones, as any others will be based on today's Kwh rate. Even these are out by about £12 pa when I was specific about the rate description and annual Kwh usage. If there is comparison software that can provide a forward pricing model, I'd love to be informed!

The OP has already given annual Kwh and can use the comparison sites with this info to generate quotes. I suggest entering this info to the best quote energy co's own website also and saving the quote in case of dispute later. Often the energy co software will indicate what the DD calculation will be. As mentioned before this is valueless where the rate is variable and due to change.

davidgmmafan

Fixed rates tend to be more expensive initally though so it is down to the individual at the end of the day. Its exactly the same principle as a fixed rate mortgage. Some people value the certainty of a fixed rate, and some are willing to take a chance on a saving. In terms of mortgages and utility bills you don't know what will happen to the price so you just have to make the best guess you can.