MSE News: MoneySavingExpert.com launches the 10 day big winter switch event

shazzablue

Impressed with the speed of switch so far,switched 29th oct,some emails to activate account,and eon hope to have taken over account by 14th nov.no complaints from me,thanks mse!

moneyfoolish

Does anybody know how easy it is and how long it takes to make the MSE switch if you are already on another EON Collective tariff. Also do you still have to pay the £10 exit fee for moving from one EON tariff to another?

MSE_Dan_L

moneyfoolish wrote: »

Does anybody know how easy it is and how long it takes to make the MSE switch if you are already on another EON Collective tariff. Also do you still have to pay the £10 exit fee for moving from one EON tariff to another?

For existing Eon users you should be switched more quickly than if you were changing suppliers. Eon is estimating this at around 2 weeks. The exit fee doesn't apply here.

moneyfoolish

MSE_Dan_L wrote: »

For existing Eon users you should be switched more quickly than if you were changing suppliers. Eon is estimating this at around 2 weeks. The exit fee doesn't apply here.

Thanks Dan. I've just worked out my savings would be £35.05 per year plus the £30 Cashback. The CSE tells me that I would save £59 plus the cashback but I assume that's because it is adding in days on a standard tariff. My actual savings are easy to calculate because my tariff has the same standiing charge so it's only a matter of multiplying the units by the unit rate difference. How many days are left before the sitch ends?

MSE_Dan_L

moneyfoolish wrote: »

How many days are left before the sitch ends?

We've added a countdown to the information page. All the details are at the link below (3 out of the 4 tariffs end at 5pm on Friday)
https://cheapenergyclub.moneysavingexpert.com/collectiveswitch

MegaMiniMouse

The confusion continues, and now somebody has mentioned the added complication of trying to guess how long it will take to switch supplier (and get your refund, if there is a credit balance on your existing account).

The banks, who used to be as devious as the energy suppliers, now offer a seven-day switch which includes a transfer of your credit balance to the new account. Is there really a good reason why energy suppliers cannot offer a similar deal?

cing0

Why are MSE recommending switching to FIXED when clearly the price of oil is plummeting - other commodities such as energy reflect the price.
There is no transparency in the industry so who knows how long forward gas contracts are for and how much.
I switched to EDF recently and now E.on is £50 cheaper (variable).

MegaMiniMouse

cing0 wrote: »

Why are MSE recommending switching to FIXED when clearly the price of oil is plummeting - other commodities such as energy reflect the price.
There is no transparency in the industry so who knows how long forward gas contracts are for and how much.
I switched to EDF recently and now E.on is £50 cheaper (variable).

We have become conditioned to the idea that we need to be frightened by the possibility of huge increases in our energy bills, and the energy suppliers have no reason to try to dispel that idea. The switching/comparison sites, including MSE, also have a vested interest in perpetuating the myth. Right now, medium term fixes should be cheaper than short term fixes, but it would be even better if the energy suppliers were to use their expertise in the futures markets in order to be able to offer some longer-term price stability to their retail customers.

cklass

There are no guarantees that the energy companies will lower their prices to reflect falling costs, they certainly haven't in the past. Some people are also concerned that the closure of nuclear power plants will result in higher energy prices in the near future. It is difficult to predict what will happen, but there has been nothing to suggest that prices will suddenly stop rising after years of regular increases.

The influx of new entrants in the energy market has resulted in the Big Six losing some of their market share, and so nPower and E.ON, who are currently struggling the most due to bad PR, unhappy customers and falling revenue, have launched some competitive tariffs ahead of winter because they know that this is when most people switch to new suppliers. This does not mean that energy prices are falling - you should consider these simply limited time offers.

MSE's E.ON tariff is only a year long tariff with a small exit fee. Most customers will receive £30 cashback for switching, and so if a significantly cheaper tariff does become available in a few months time, those people won't lose any money if they choose to switch again. Others are likely to make £10 in savings within the first few months anyway. We're a low usage household and even we're estimated to save at least £5 a month with E.ON compared to our current EDF tariff.

Patr100

On the comparison on my logged in EClub calculator. I can't change the payment method to see different results . I'm on separate gas (quarterly Ebico) and lec (EDF)and the drop down menu for payment method can't be changed from month DD to any other when I select separate gas or lect. Why?