What am I missing?

LE3

My current discount tariff comes to an end in January so looking round for the best switch. I am pretty sure I have narrowed down my next supplier to either the Cooperative Energy Or Sainsbury Energy ...

I have seen that the Sainsbury energy have a winter savings offer where you get £65 credit and 10,000 Nectar points (roughly £50) ... What am i missing? Isn't this a pretty good deal? (yes, i know you go on their standard tariff but there is no tie in and the savings should more than outweigh that for my usage ...)

I am sure I'm missing something ....

macman

A comp site check maybe?
Just factor in the £65+£50 into the results.
Note the small print-the Nectar points are only credited quarterly (not upfront in one hit).

LE3

I've done a comparison & all things considered, I have basically narrowed down to the fact that I am going to go with either Coop or Sainsbury next time (currently with Eon) but I just can't see where the catch in this offer is ...
I can't imagine there isn't one :rotfl:

macman

Other than that it's a variable tariff, so the price can rise at any time. If the freebies are worth more than the cheaper tariff saving over a 12m term, then fine.
The catch is that, although there is no ETC, you will not get all the Nectar points if you leave before 12m.

Wywth

LE3 wrote: »

I've done a comparison & all things considered, I have basically narrowed down to the fact that I am going to go with either Coop or Sainsbury next time (currently with Eon) but I just can't see where the catch in this offer is ...
I can't imagine there isn't one :rotfl:

What is your annual usages in kWh and supply region (or first part of your postcode).
Then we can tell you if it really is the best options for you

LE3

I'm East Midlands. Haven't got my annual usage in front of me but I'm lower than "average"
Last quarter I used 494 KwH electric (about standard usage I would think) and 3003 KWh Gas (which was def higher than usual for at least 3-4 weeks due to illness & having the heating on all day!)

LE3

and I'm not interested in Utility warehouse as a provider, even if they are cheap!

Wywth

LE3 wrote: »

I'm East Midlands. Haven't got my annual usage in front of me but I'm lower than "average"
Last quarter I used 494 KwH electric (about standard usage I would think) and 3003 KWh Gas (which was def higher than usual for at least 3-4 weeks due to illness & having the heating on all day!)

Ok, I've assumed the following annual consumption figures for you
gas: 10,000 kWh
electricity: 2000 kWh

(let me know if you have more accurate figures so the advice can be reviewed)

But based on those figures, Sainsburys would cost you £736 (less the discount you put in the OP) and the Co-Op would cost you £745

If you split the gas & electricity, you could buy the electric from British Gas for £289 p.a. (or very slightly cheaper from First Utility) and your gas from nPower for £407
That's a total of just £696
Don't forget cashback which, if included, would almost match the Sainsburys offer even with the deal you post in the OP. (and you won't have to wait 12 months to get the cashback, and it's cash you can spend where you want, not loyalty points)

HTH:)

LE3

Thanks for your help
I'll try and find my actual usage figures but I am pretty sure I will go with either Sainburys or Cooperative this time round - prices are competitive AND you get a few little freebies in the loyalty points

I need to look into cashback, but haven't really had much luck with that in the past

macman

LE3 wrote: »

I'm East Midlands. Haven't got my annual usage in front of me but I'm lower than "average"
Last quarter I used 494 KwH electric (about standard usage I would think) and 3003 KWh Gas (which was def higher than usual for at least 3-4 weeks due to illness & having the heating on all day!)

Your last quarterly figures tell us nothing about your actual annual consumption though-your gas consumption in particular varies hugely from summer to winter.
You can't begin to do a proper comparison without your actual annual figures-which are available on your annual statement, from your last 4 quarterly bills, or by phoning your supplier.
How can you know what is 'competitive' without this basic info?