Cheap gas & electric

bazer99

I have been looking to change my supplier & some conparision sites say that I could get cash backs of varing amounts subject to the new supplier that I chose.
But my question is that all that I looked at the unit price of both gas & electric is much dearer than what I currently pay, so at some time further down the line I will be paying a lot more for my supply.
Can somebody enlighten me?

Cardew

Welcome to the forum.

I am not sure I understand your questions.

You can get money-back(usually around £30) for switching accounts. However that shouldn't be the incentive to switch.

For years now both gas and electricity tariffs have been increasing in price, so most of us who have the cheaper internet tariffs are resigned to paying more when we switch; which we generally do when the fixed term of these tariffs has ended. The people who can gain are those on a company's standard tariff who can move to a cheaper internet tariff - these generally are paperless and you have to provide meter readings and pay by direct debit; they also are usually for a fixed term and there are penalties for leaving early(usually £30 to £60).

You can't just look at the unit rates in isolation as the discount structure for paperless, Direct Debit payment, dual fuel etc can make a big difference to the price you pay.

If you enter your annual consumption in kWh in any of the comparison networks it will give you details of all the tariffs - but look closely at the small print!!

molerat

The unit rate is not a good comparison. There are tier 1 & 2 rates, standing charges and various discounts which make up the overall annual cost. The comparison sites will take all these into consideration.

shaymenRup

For the most accurate comparison establish how much energy you used over the last 12 months from your bills.

Although seasonal costs won't be exactly matched it will give you a fair idea on the comparison sites.

The way bills are calculated these days it would be difficult to trust your own calculations unless you know what you are doing. (im no expert).

Once you have all your annual consumption use the list of comparison sites and compare. Sometimes cheaper to have seperate gas/ electric suppliers.

If you identify a supplier, check out if they are listed in cashback sites like topcashback and quidco as sometimes their cashback is more than the money you get from a switching site.
Make sure you make a note of the exact tariff , because there are numerous and some cashback deals are specific to more expensive tariffs only.