Cheap Energy Club

smspencer

Does anyone know how this works? I've signed up to it, but I can't see how to actually run a comparison

And is this the best thing to use? Which comparison method is best?

Thanks in advance.

Bark01

smspencer wrote: »

Does anyone know how this works? I've signed up to it, but I can't see how to actually run a comparison

And is this the best thing to use? Which comparison method is best?

Thanks in advance.

It just runs a comparison using the MoneySupermarket quotation web site.

It offers the benefit of also running automatically to tell you if anything cheaper is released. I doubt will see anything other than an increase for at lest the next 5 years, so I don't think it will benefit anybody. Certainly won't do harm though.

Beware though, I just ran a quote and it was stating my tariff has cancellation fees which it doesn't (EDF Blue April 2014). It was also missing at least 1 tariff that should be in the top 10.

smspencer

So I should just use moneysupermaket and switch to the one that comes out on top?

Former_MSE_Archna

Bark01 wrote: »

It just runs a comparison using the MoneySupermarket quotation web site.

It offers the benefit of also running automatically to tell you if anything cheaper is released. I doubt will see anything other than an increase for at lest the next 5 years, so I don't think it will benefit anybody. Certainly won't do harm though.

Beware though, I just ran a quote and it was stating my tariff has cancellation fees which it doesn't (EDF Blue April 2014). It was also missing at least 1 tariff that should be in the top 10.

Hi bark - the exit fee issue should be sorted shortly, thanks for flagging but what tariff are you expecting to see - we show all tariffs so there should not be anything missing.

Former_MSE_Archna

smspencer wrote: »

Does anyone know how this works? I've signed up to it, but I can't see how to actually run a comparison

And is this the best thing to use? Which comparison method is best?

Thanks in advance.

Hi sm spencer

You get a comparison as soon as you've signed up if you've added your current details or you can log back into your account to get an up to date comparison.

Wywth

MSE_Archna wrote: »

...but what tariff are you expecting to see - we show all tariffs so there should not be anything missing.

One of the issues with MSM is that you must filter the output according to the preferred payment method (e.g. monthly DD, Quarterly cash or cheque etc) so unless you do all 4 options separately, then you will not get all the possible tariff options.

Energyhelpline (which I think is what Martin was using on Thursdays Tonight programme) allows you a 'any of the above' payment option so you can get all possible tariffs in one search

Also MSN automatically defaults to filtering only the suppliers/tariffs that you can switch to via MSM. Although this can be switched off, it can easily be missed.

Former_MSE_Archna

Wywth wrote: »

One of the issues with MSM is that you must filter the output according to the preferred payment method (e.g. monthly DD, Quarterly cash or cheque etc) so unless you do all 4 options separately, then you will not get all the possible tariff options.

Energyhelpline (which I think is what Martin was using on Thursdays Tonight programme) allows you a 'any of the above' payment option so you can get all possible tariffs in one search

Also MSN automatically defaults to filtering only the suppliers/tariffs that you can switch to via MSM. Although this can be switched off, it can easily be missed.

Direct debit is generally the cheapest method of payment which we make pretty clear (I hope) in our version of the comparison. If you're not picking direct debit it's likely to be a lifestyle choice.

And cheap energy club defaults to a whole market comparison.

Wywth

MSE_Archna wrote: »

Direct debit is generally the cheapest method of payment which we make pretty clear (I hope) in our version of the comparison. If you're not picking direct debit it's likely to be a lifestyle choice.

Yes it is generally the cheapest, but not always, so why filter out any possible more competive options at this stage? (unless it is a lifestyle choice)

I have in the past chosen a pay quarterly option as that was the cheapest option. (It was a Scottish Power product that offered a sizable fixed discount for prompt payment. As a low user, this discount was a substantial part of the annual bill. Paying monthly by DD only offered a percentage discount, and as a low user that discount was less than the fixed discount)

Surely it is better to offer all available options? (like Energyhelpline gives the opportuntity to)
If, as you say, the tariffs that are not pay monthly by DD are more expensive, then they will be at the bottom of the list. But I don't understand the logic of filtering out any possible tariffs (unless of course that is a lifestyle choice)

Filtering can also get complicated. You see with the SP product, paying quarterly by cash cheque was actually shown as quite expensive (because it didn't include the prompt payment discounts) so you would need to actively filter on pay quaterly by DD to see the discounted price (because then the discount is guaranteed - assuming the DD didn't bounce) or actively read all the details and deduct the prompt payment discount manually.
It was only because I was using a comparison site that showed unfiltered all the possible options that I spotted the cheap SP tariff opportunity
(The particular tariff discount is not currently available/competitive, but it could return)