MSE News: Energyhelpline.com launches 'Huge Switch'

Former_MSE_Guy

"The comparison site has launched its collective switching deals, which it says can save consumers £50 a year ..."

Read the full story:
Energyhelpline.com launches 'Huge Switch'

Plushchris

Not much of a collective buying scheme if they have just increased the cashback to whats available elsewhere (quidco etc)

Consumerist

I don't think these co-operative switching schemes have too much to offer financially savvy energy consumers and those who read MSE. But if they get some the vast numbers of "sticky" customers off suppliers' standard tariffs then they will have achieved something.

MillicentBystander

MASSIVE interest on here in this one. Not

A.Penny.Saved

Plushchris wrote: »

Not much of a collective buying scheme if they have just increased the cashback to whats available elsewhere (quidco etc)

That's about the only thing this is offering.

Looking closer at their figures and they have lowered the expected savings so something fishy is going on. I did a comparison a few weeks back and the results were saved and now the same comparison shows savings which are about £15 lower than they were.

Some deals are priced fixed such as EDF, therefore the prices should not of changed.

However, the savings reported were higher than other price comparison sites showed and the new figures are now much more like the other sites so maybe they have changed things because of inaccuracies in the results.

JimmyTheWig

However, the top deals could go at any time if demand is too high.

I thought the whole point of these big switches were that they got many customers on board and so commanded a discount.
So the higher the demand the better the deals should be.

This quote from the article, then, suggests that the plan has failed so far.

busybee100

The 'fixed' price on some of the tariffs are only fixed to the companys standard tariff. Highly misleading hope it isn't intentional.

Update:
Customers signing up to Sainsbury's Online Price Freeze June 2013 will have their prices fixed at 8.9% below their standard tariff rates as at 12/01/2012 until 30/06/2013

I'm told the above quote taken from the tariff details is definately a true fixed. Tariff will be fixed at 12/01/2012 prices until 30/06/2013.

Why they have to mention the date and what it is tied to just confuses the matter. If it's fixed it's fixed do we care where they get their figures from. :?

Pincher

Another kind of fix price.

What if Ofgem sets a fixed price that all the energy companies have to charge, so we all pay the same price, like £1,200 a year for average consumption. The energy companies give you a rebate at the end of the year, depending on how well their hedging strategy and admin efficiency etc. panned out.

Ofegem just has to update a table on the web, showing historical rebates by region, and you can choose your supplier just by looking up the table.

To reduce overheads, they have to stop paying comparison siites and salesmen. I suspect a well run company with low complaints spends less than a company that has lots of complaints. If they simply reduce staff and complaints build up, they get fined, incurring more costs.

Ofgem has to set a price that is realisitcally achievable using hedging techniques, plus a healthy profit margin. The companies can hedge or sign long term contracts however they want, but the customer will never pay more than the fixed price.

stg123

How on earth do you figure out with this thing how much cashback you're going to get? It's asking me to put in my Direct Debit details but still no number...

rich86

Does anybody happen to have a saved copy of the terms and conditions for the Huge Switch? I've been told that I'm not eligible for the cash back due to a previous (cancelled) application, but can't seem to find any mention of this in the currently available terms.

kenlaing

Having had marketing calls despite our number being TPS registered ... I'm very interested to see that "Fundraising Innovations Limited t/a Energy Helpline" has been "selected" by Information Commisioner's Office for "monitoring because of concerns about compliance: "
ICO website / enforcement/ action taken/ calls.

I'll be looking for cashback elsewhere to support firms who obey the law.