Can't work out if it's worth switching

singingsister

Hi

We're currently almost at the end of our duel fuel contract with Scottish Power.

I got our annual usage from Scottish Power
(9409 gas and 3617 electricity) and according to the various switching sites, we can save about £115 a year.

However, we are in debit with Scottish Power just short of a hundred pounds so to move away from them, we'd obviously have to pay them that up front.

So I think that if we did switch, we'd only be saving about £15 a year - after you've taken the £100 out that we'd have to pay Scottish Power.

What do you think?

HappyMJ

That makes no sense. If the switching site is accurate and tells you will save £115 then that's about what you will save in 12 months time.

notbritishgas

Well if you do not switch you will still have to pay the £100 to SPower, likely to be with them increasing your Direct Debit.

When was the bill that showed you to be £100 debit, if it was at the beginning of summer then perhaps you have already paid some of it off with your DD's.

Anyway, to your question, if you want to save £115 then switch.

macman

Your saving will be £115, plus any possible cashback on top that is available.
The switch will take you maybe 15 minutes online. What job do you have where £460 per hour is not a good rate of return?

HAMMIEHOO

I just phoned spower yesterday about my bill, i was finding it unmanageable, £203 per month for gas and electricity. Anyway I got offered a new tarif, Online Unifi Capped Energy Jan 2014. I am waiting to receive an energy consumption monitor to arrive and although the prices are capped until 2014 if the prices go down then so will my payments. My DD has now changed to £150 per month :T

HappyMJ

HAMMIEHOO wrote: »

I just phoned spower yesterday about my bill, i was finding it unmanageable, £203 per month for gas and electricity. Anyway I got offered a new tarif, Online Unifi Capped Energy Jan 2014. I am waiting to receive an energy consumption monitor to arrive and although the prices are capped until 2014 if the prices go down then so will my payments. My DD has now changed to £150 per month :T

Nice to see you are happy with it but that is an expensive tariff.

You are paying for the Unifi device in the unit rates. What use is it? Have you actually read the pricing leaflet. It is guaranteed to be £4.35 more expensive per fuel per month than standard scottish power rates. So it's costing you £104.40 extra per year. The Unifi device has a value of £101 if you cancel you have to pay it in full as well as an extra £51.

It has 88.5p per day standing charges and not very impressive unit rates at 11.2p for electricity and 3.73p per unit of gas.

macman

Never make a switch based on the promise of an (initial) lower DD. Use a comp site and do your own research. Impossible to say if this is really cheaper or not, as you don't say what tariff you are currently on.

HAMMIEHOO

HappyMJ wrote: »

Nice to see you are happy with it but that is an expensive tariff.

You are paying for the Unifi device in the unit rates. What use is it? Have you actually read the pricing leaflet. It is guaranteed to be £4.35 more expensive per fuel per month than standard scottish power rates. So it's costing you £104.40 extra per year. The Unifi device has a value of £101 if you cancel you have to pay it in full as well as an extra £51.

It has 88.5p per day standing charges and not very impressive unit rates at 11.2p for electricity and 3.73p per unit of gas.

Thanks for that info, I haven't actually received all the info from them yet, or the device, although, the cost of the device was explained at the time of the call. I will definitely look into it a bit closer now.