Moving House

Ashers23

Hi

I have just bought a new house, my first one. The old owners have moved out today, I was wondering if I have to register with their energy supplier they was using before I can switch to someone else? They were with British Gas but I'm hoping to go dual and pay by monthly direct debit.

If anyone can help or even advise me what I should be looking for with an energy supplier it would be greatly appreciated because to be totally honest the all thing is stressing me out! Ha! Probably because I'm new to it all.

Thanks in advance

Ash

Bluebirdman_of_Alcathays

Ashers23 wrote: »

Hi

I have just bought a new house, my first one. The old owners have moved out today, I was wondering if I have to register with their energy supplier they was using before I can switch to someone else? They were with British Gas but I'm hoping to go dual and pay by monthly direct debit.

If anyone can help or even advise me what I should be looking for with an energy supplier it would be greatly appreciated because to be totally honest the all thing is stressing me out! Ha! Probably because I'm new to it all.

Thanks in advance

Ash

You can of course have dual fuel and pay by DD with BG, they are the largest supplier of energy.

When you take ownership of a property you are in a deemed contract with the existing supplier. Give them initial meter readings. You can then commence the search for the best deal. You'll need your annual consumption in KWh, which you won't know yet. The UK average is 13500 KWh for gas, and 3,200 KWh for elec annually, use these as a guide.

Submit meter readings regularly to avoid "bill shock".

victor2

Also, don't assume dual fuel contracts are the cheapest.
Thanks mainly to Ofgem's insistence on simpler tariffs, the discounts for dual fuel contracts have largely gone now, so you will probably find it cheaper to get your gas and electric from two different suppliers. Of course it's more work for the consumer to manage and switch two separate accounts, but it must be "simpler" because Ofgem say so...
Your biggest challenge is going to be estimating your annual usage. Put the averages given above into a comparison site to get an idea what the best deals are likely to be in your area, but go for a deal with no exit penalties if you decide to leave before the contract end.

Ashers23

Bluebirdman_of_Alcathays wrote: »

You can of course have dual fuel and pay by DD with BG, they are the largest supplier of energy.

When you take ownership of a property you are in a deemed contract with the existing supplier. Give them initial meter readings. You can then commence the search for the best deal. You'll need your annual consumption in KWh, which you won't know yet. The UK average is 13500 KWh for gas, and 3,200 KWh for elec annually, use these as a guide.

Submit meter readings regularly to avoid "bill shock".

I have just got some quotes off money supermarket and the best seems to be a fixed price until Mar 2017 costing £1187 with SSE but does have a £50 early exit fee. I used the average KWh you put as a guide. There are cheaper ones but only fixed for like a year.

Would you say this is reasonable?

Thanks

Ash

victor2

Ashers23 wrote: »

I have just got some quotes off money supermarket and the best seems to be a fixed price until Mar 2017 costing £1187 with SSE but does have a £50 early exit fee. I used the average KWh you put as a guide. There are cheaper ones but only fixed for like a year.

Would you say this is reasonable?

Thanks

Ash

It sounds like you've already decided a fixed tariff is for you. They're always a bit of a gamble (albeit a pretty safe one these days) that by the contract end you'll be ahead of the variable tariffs by enough to have made the initially higher starting rate worthwhile.

Just out of interest, try varying your predicted annual kWh usage by say around 20% each way and see if the same tariffs still come out best.

Also consider the cashback sites when looking to switch. Could put a little something extra into your pocket.

Ashers23

victor2 wrote: »

It sounds like you've already decided a fixed tariff is for you. They're always a bit of a gamble (albeit a pretty safe one these days) that by the contract end you'll be ahead of the variable tariffs by enough to have made the initially higher starting rate worthwhile.

Just out of interest, try varying your predicted annual kWh usage by say around 20% each way and see if the same tariffs still come out best.

Also consider the cashback sites when looking to switch. Could put a little something extra into your pocket.

Don't you think it's best to go for a fixed rate? I thought it would be due to the prices going up all the time.

Would you say I'm best off looking for the cheapest overall for the year? Or, going for a longer fixed rate deal? Or, the provider who charges the least per KWh?

Ash

victor2

Ashers23 wrote: »

Don't you think it's best to go for a fixed rate? I thought it would be due to the prices going up all the time.

Would you say I'm best off looking for the cheapest overall for the year? Or, going for a longer fixed rate deal? Or, the provider who charges the least per KWh?

Ash

I'm happy that I've benefitted from fixed rates for the past several years - it also gives you the comfort of knowing what you'll be paying per kWh for the duration of the contract. However, where you don't how much you are likely to use, there could be an advantage to figuring out your typical annual usage before committing to a long fixed rate tariff, especially if it's going to cost you to exit early.
Unfortunately, until you've been through a full year, you won't really have an idea what you'll be using.
It's horses for courses - people will argue in favour of both sides. If I were in your case, I'd probably look for the best fixed rate/supplier reputation to get me through the next winter, but that's just my opinion...

KierBrook

Fixed rates are great but your tied into a contract and it will probably get frustrating knowing that maybe next year you could be quoted something cheaper by another company yet moving/switching would ultimately mean you have to pay early termination fees etc.

However there is the comfort of knowing how much per month for the next so many years you are going to be spending on gas and electric and so can budget accordingly.

Depends on what your after really. Im a fan of constantly looking and switching with companies who offer no minimum contracts as you then have the freedom to follow the suppliers which are the cheapest around at that time of year.

Regards,
Kier

Bluebirdman_of_Alcathays

KierBrook wrote: »

Fixed rates are great but your tied into a contract and it will probably get frustrating knowing that maybe next year you could be quoted something cheaper by another company yet moving/switching would ultimately mean you have to pay early termination fees etc.

However there is the comfort of knowing how much per month for the next so many years you are going to be spending on gas and electric and so can budget accordingly.

Depends on what your after really. Im a fan of constantly looking and switching with companies who offer no minimum contracts as you then have the freedom to follow the suppliers which are the cheapest around at that time of year.

Regards,
Kier

Do you really think with the current situation in Russia and the threat of a Labour price freeze that prices are going to do anything but go up? Personally I'd go for a competitive fix.

KierBrook

Good point. These are all factors to consider but it really is down to your own personal preference.

In this situation they need to know how much they are going to use. Yes companies can give you estimates but if they are over estimating you and you go into a fixed price plan then you could well be paying over the odds and not really see that you are. Meter readings will have to be regularly updated to avoid this i suppose

Just my opinion,

Regards
Kier

Ashers23

Bluebirdman_of_Alcathays wrote: »

Do you really think with the current situation in Russia and the threat of a Labour price freeze that prices are going to do anything but go up? Personally I'd go for a competitive fix.

If I was to go for a competitive fix and put the average KWh figures in and I didn't use that much, would they refund me or just knock it off my next bill?