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Compare 2 different deals

We are in the process of identifying which gas and electricity supplier we should switch to. We were in a fixed contract that has come to an end and nPower has put us on the standard tariff which is expensive.

We used the comparison sites listed in this website and it all comes up with the same 2 deals at the top.

Gas - kWh = 19233 per year (estimated)
Electricity - kWh = 3169 per year

The top 2 deals are:

1. First Utility with iSave v9 Tariff which has standing charge for gas and electricity and 1 rate for all kWh used

2. E.ON with SaveOnline 11 Tariff which has no standing charge, but tiered rates for gas and electricity.

How do we work out which will work out the cheapest? Do I go with the top one (ie Cheapest) on the list?

Thanks in advance

PS: Why are these things so confusing!!!
The quickest way to double your money is to fold it in half and put it back in your pocket. :rolleyes:

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    I would read the reviews about first:utility before selecting that tariff. Also be aware you need to pay about £15-£20 a month more on that tariff which you "may" get back after 12 months on the tariff if everything has been read and paid on time. Look at the discounts line on the comparison website.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    itgirlinuk wrote: »
    We are in the process of identifying which gas and electricity supplier we should switch to. We were in a fixed contract that has come to an end and nPower has put us on the standard tariff which is expensive.

    We used the comparison sites listed in this website and it all comes up with the same 2 deals at the top.

    Gas - kWh = 19233 per year (estimated)
    Electricity - kWh = 3169 per year

    The top 2 deals are:

    1. First Utility with iSave v9 Tariff which has standing charge for gas and electricity and 1 rate for all kWh used

    2. E.ON with SaveOnline 11 Tariff which has no standing charge, but tiered rates for gas and electricity.

    How do we work out which will work out the cheapest? Do I go with the top one (ie Cheapest) on the list?

    Thanks in advance

    PS: Why are these things so confusing!!!

    They're not confusing. The SC/NSC question is a red herring. Unless you are a very low user it makes virtually no difference to your annual bill. The comp site results will anyway show you which is the cheapest, taking standing charges and tiered tariffs into account.
    You may wish to reconsider going with FU after a search on this board though. They're the lowest rated for service of the small providers by far.
    No free lunch, and no free laptop ;)
  • Neil_Jones
    Neil_Jones Posts: 9,629 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The difference between Standing Charge and No Standing Charge in terms of pricing makes no difference.
    All it basically means is you pay anywhere from 10-30p a day plus your daily usage on a Standing Charge tariff, which makes them easier to work out yourself if you take your own meter readings and can count the days between two dates. A No Standing Charge option has a split option where the first few hundred are at a higher rate, the rest at the lower rate. Some providers calculate this in a strange way as to where the cut-off is. Npower, so far as gas is concerned, split it in about four different ways across the year.

    With regard to who to go for, your choice, but First Utility appears to have major issues in many departments.
  • Thanks everyone for taking the time to explain. We have gone with E.ON
    The quickest way to double your money is to fold it in half and put it back in your pocket. :rolleyes:
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    itgirlinuk wrote: »
    Thanks everyone for taking the time to explain. We have gone with E.ON
    Even worse....:D...Only kidding..I have an unresolved complaint with them that's all. I'm sure they'll be fine.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
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