Comparison sites not showing the real "saving"

MattsMoneyHypermarket

Comparison websites, including our very own MoneySavingExpert, are a little misleading in my view. Dare I suggest sneaky?!

When they show savings on your future gas and electricity spend, these aren't the real savings. That's because they compare the proposed new tariff options against what you would pay in the future if you didn't switch. So they are savings based on seeing out your current deal and then getting automatically switched to the standard tariffs of your current supplier. That's a little silly. You're on the comparison website - you're already looking to switch otherwise you wouldn't be on the site at all.

It would be more sensible (more honest) to show the saving by comparison to what you would pay on your current promotional tariff. Okay, we know that this promotional tariff is probably ending soon and won't be available for the future - but that's not the point. Doing it this way will show a much clearer comparison with historical reality versus future opportunity.

To base a saving on the huge "if" you don't switch is simply misleading.

Biscuit_Tin

MattsMoneyHypermarket wrote: »

Comparison websites, including our very own MoneySavingExpert, are a little misleading in my view. Dare I suggest sneaky?!

When they show savings on your future gas and electricity spend, these aren't the real savings. That's because they compare the proposed new tariff options against what you would pay in the future if you didn't switch. So they are savings based on seeing out your current deal and then getting automatically switched to the standard tariffs of your current supplier. That's a little silly. You're on the comparison website - you're already looking to switch otherwise you wouldn't be on the site at all.

It would be more sensible (more honest) to show the saving by comparison to what you would pay on your current promotional tariff. Okay, we know that this promotional tariff is probably ending soon and won't be available for the future - but that's not the point. Doing it this way will show a much clearer comparison with historical reality versus future opportunity.

To base a saving on the huge "if" you don't switch is simply misleading.

Energyhelpline, as one example which is recommended by MSE, do offer a choice of how you wish to see savings, where appropriate.
i.e. a weighted saving (assuming you do nothing, and are moved to a different tariff within 12 months)
and
a standard saving (giving the savings assuming the tariff you are currently on does not end)

Personally I too find the savings on a weighted basis confusing, as I know when my deal is coming to an end and that it will probably mean me paying more in future. I like to see how much more I will be paying next year compared to last year.

But I can also see how some people may prefer the weighted answer.

Bluebirdman_of_Alcathays

As Biscuit Tin says, savings can be expressed in many ways, and energyhelpline give you an option.

What always stays the same, and is the most important aspect, is the annual spend on the new tariff. Every comp site gets that right.

JJ_Egan

If my tariff is ending i want to know what the total cost is going to be .
I don't want to compare against a tariff that no longer exists .