Advice from Savvy People

cwood2112

Hi all

I'm new to joining MSE although I do follow quite a few sections of the forum and regularly read the articles on the website. (sorry if I am posting in the wrong area!!)

I officially complete on my first property with my boyfriend in two weeks (eeeek!!) and am looking for advice on utilities in general.

I am fairly financially savvy and work in independent financial advice however I can quite honestly say I have next to no knowledge of gas, electricity and water bills, how they are measured, what to expect to pay, meter readings etc. (severe case of 'daddy does it!)

As our flat is a new build and the address isn't on alot of systems yet, we have been advised to wait until we receive our first lot of bills after a month before we look at switching providers (aparently we will have our meters read the day we move in, we will receive the bill the next month).

This does make sense as we have struggled to arrange several things including sky etc without the address being registered on electronic systems.

As such, when we receive our first bill, I will be looking at establishing the best provider to move to and switching (I was planning to just look on uswitch) but am conscious that with a serious lack of knowledge, I might misunderstand or miss loopholes etc.

As such, does anyone have any top tips for what I should be looking for? Or avoiding, making sure things are included, watching out for certain terms in small print etc? also, in terms of payment what would be best? I have been told that it is not a good idea to go on a direct debit as they tend to take more than you use as they keep some money back, and that maybe quarterly payments are better and easier to manage? Does anyone else have any thoughts?

Any suggestions would be welcome and much appreciated

jalexa

cwood2112 wrote: »

we have been advised to wait until we receive our first lot of bills after a month before we look at switching providers

who advised that?

(aparently we will have our meters read the day we move in, we will receive the bill the next month).

On the contrary you must take the readings on the day you move in and you must set up an account with the current supplier (or be personally satisfied that the foregoing has all been done). Any address confusion is for the suppliers to solve, but you must take ownership of your affairs. Do not rely on others.

cwood2112

The developers suggested that would be the best way to start out and then we would have something to compare it to when we come to look at switching.

As such, do you suggest I arrange for the meters to be read the day we move in directly with a provider?

cwood2112

I've had a look on uswitch but it asks for details on the current provider, the plan type and I am assuming if I went through to the next stage, it would ask for details on the amount of each utility we use. As we currently don't have these details, how can I run a comparison of price plans?

jalexa

cwood2112 wrote: »

As such, do you suggest I arrange for the meters to be read the day we move in directly with a provider?

Let me explain in more detail. On the day you become responsible for the property a "deemed contract" is created with the current supplier to the property (originally the developers choice). It is imperative that you provide the current supplier with address and billing details. The supplier will ask you to take opening readings.

A "deemed contract" is at standard, non-online, non-discount terms, i.e. not the cheapest. You are immediately free to initiate a switch or agree with the current supplier a cheaper or more appropriate tariff.

In your last post you ask about comparing tariffs without previous details. That is not difficult. Choose the current supplier's standard tariff (or indeed any tariff), enter annual consumption of 16,500 kWhrs for gas and 3,300 kWhrs for electric. The % saving will be approximately right for "typical" consumption.

Be aware there are tariff "gotchas" and pitfalls for the unwary. In particular beware "deferred discount":eek: tariffs unless you understand the circumstances you could forfeit the discount.

cwood2112

Oh okay that makes more sense. So I need to find out which providers the developers will automatically nominate on the day we move in, look at their standard rate contracts and compare. Sounds simple enough.

Can I ask why you suggested '16,500 kWhrs for gas and 3,300 kWhrs for electric' ? Those figures mean nothing to me, are they just averages?

Thank you for your explanatation, it was very useful

jalexa

cwood2112 wrote: »

Can I ask why you suggested '16,500 kWhrs for gas and 3,300 kWhrs for electric' ? Those figures mean nothing to me, are they just averages?

The figures are indeed accepted "averages". Within quite a wide range of consumption actual usage does not have much effect on supplier ranking.

Very low usage is an exception to that rule but its probably premature to consider your usage very low.

BTW the developer is already the current customer of the current supplier. It should be obvious or ask the developer.

DVardysShadow

Don't forget, the first thing to do when you open the door of your new property - before you allow yourself to be overcome by any excitement or get distracted by anything - the very first job is to find all of your meters and read them, keeping the readings somewhere safe.

If you live in a flat, you need to go on to check that the meters are actually reading your consumption. And if you are in a flat and you do not have access to the meters, you need to make a huge fuss until you have access when you want it without asking anyone.

lemontart

chances are there will be no registered gas supplier being a new build but you must take steps to check this by first calling 0870 608 1524 the m number line

Terrylw1

As said, take your readings and protect yourself.

Developers will take a reading and pass it to the supplier anyway, often even sending a letter informing the supplier who you are and when you take ownership from them. Many of them have been doing this for years and it works OK but...if they get the readings wrong, lose them, get the date wrong, blah blah blah...its you who will have the hassle of arguing the corrections. So, always take responsibility for setting accounts up and taking the readings yourself, then 3rd parties can't cause you problems.

Terrylw1

lemontart wrote: »

chances are there will be no registered gas supplier being a new build but you must take steps to check this by first calling 0870 608 1524 the m number line

The developer chooses the utilities since you need a meter which requires a supplier.