Unit prices too complicated

rl1

Is there an idiot's guide to comparing the unit prices. I am on Eon Save Online 2 and the tariffs they are offering to switch to are Eon Save Online 7, Age UK Price Protection April 2013, Eon Price Protection April 2013 and several more all giving the unit prices but I simply cannot understand these enough to compare. Why can't they make it easier.

penrhyn

Yes there are, called comparison sites they are.;)

james2012_2

The best thing to do is to make a spreadsheet then enter all the tariffs and work it all out, best thing I ever did when I was made redundant was take a computer course which included spreadsheets,

or you could use a comparison site, they are fairly accurate if you use yearly kWHs NOT DD amounts.

penrhyn

Indeed, fire up the PET and load VisiCalc.

rl1

Well according to the comparison sites I've tried they say I can't get a cheaper deal which I'm sure can't be right. That is just putting in the monthly payments though which I know is not as accurate.

grizzly1911

rl1 wrote: »

Well according to the comparison sites I've tried they say I can't get a cheaper deal which I'm sure can't be right. That is just putting in the monthly payments though which I know is not as accurate.

There are loads of us on this forum making exactly the same comment. Tariffs to complicated and no longer cheaper tariffs. reality is the market has moved and suppliers don't seem bothered whether you move or not.

I have my own spreadsheets, as others have said here, to help me.

I am coming to the end of EONFOL8. I too was given the dump of tariffs just like you. Guess it depends on usage but EONOLS7 was their cheapest at this moment in time.

The comparison sites all (except one) pointed me towards BG Websaver 11 as the cheapest, recently removed,flexible tariff but compared to my existing tariff they all represented an increase.

Energyhelpline? (the one MSE likes) did use the default tariff that EON will move me to, if I take no action, to make the comparison. This showed BG Websaver 11 as the cheapest alternative supplier but now it was showing as cheaper.

i.e. my existing EON tariff was very good in comparison to what is on offer now.

I got my spreadsheet working pretty close to the outcomes delivered by the comparison sites, for the new tariffs I chose to use, so I would say they do work using the KWh figure.

What they don't reflect is any early move penalties or tie in conditions of the new supplier, that may be the sting in the tail, of cheap offers.

Richie-from-the-Boro

rl1 wrote: »

Is there an idiot's guide to comparing the unit prices. I am on Eon Save Online 2 and the tariffs they are offering to switch to are Eon Save Online 7, Age UK Price Protection April 2013, Eon Price Protection April 2013 and several more all giving the unit prices but I simply cannot understand these enough to compare. Why can't they make it easier.

Oh .. .. they don't want to make it easier, even if the regulator tries to force them to do so. In fact making it very much harder to compare is much more fun and much more profitable for the suppliers.

No one here has any idea if you are on gas & electric / electricity only / E7 tariff etc. The only way to begin to understand is to work it out in KWh. How many KWh do you use per annum ?

rl1

Thanks for the replies. I have now used the comparison site putting in usage and the cheapest is BG Web Saver V11 but as this is not capped I suppose it will be the same old story, within a couple of months of switching the price will increase but I will be locked into staying by a penalty clause. The best capped one is EDF Energy Saver 2 so I may go for that depending how long it's capped for.

What does everyone else think to cap or not to cap?

rl1

Now I'm really confused. The above result was using Simply Switch. I have just put the same figures in Energyhepline and the cheapest is the same BG Web saver V11 but costing £83 more than I am paying now.

victor2

rl1 wrote: »

Thanks for the replies. I have now used the comparison site putting in usage and the cheapest is BG Web Saver V11 but as this is not capped I suppose it will be the same old story, within a couple of months of switching the price will increase but I will be locked into staying by a penalty clause. The best capped one is EDF Energy Saver 2 so I may go for that depending how long it's capped for.

What does everyone else think to cap or not to cap?

I'm in the process of switching to the EDF Fixed S@averv2 tariff, which is capped until 30 Sept 2012. Could have gone for a longer time, but as I've never been with EDF, that will give me an easy option out if I don't like them.
I have had capped rates for over 4 years and like them as you know what you'll be charged for the duration. Each one has left me with a rate undercutting any current rates available by its completion.
They're never the most competitive when you start, but with the almost inevitable increases in the pipeline as it were, I know what I'll be paying for my utilities through next winter.

grizzly1911

rl1 wrote: »

Now I'm really confused. The above result was using Simply Switch. I have just put the same figures in Energyhepline and the cheapest is the same BG Web saver V11 but costing £83 more than I am paying now.

That is because energy prices in general have risen form when you started on you old tariff.

The energyhelpline sort allows you to compare two options against the default tariff you will be switched to or your existing one.

Not done the comparison for a couple of days but would expect BGWS11 to be the cheapest at the moment. More than your existing tariff but less than either the default EON or the OLS7.

To cap or not to cap. Fixes your price for a known period. In the long run you are delaying the inevitable. The lift is still going up but you a will be a few floors below when it expires.