Big Switch 'Eon' - where is the saving?

jackhulk

Hello

I may have overlooked something here, and I am in no way criticizing MSE Cheap Energy Club, which I think is great, but looking at the Big Switch Eon promotion, I'm struggling to see how 'MSE Fixed 1 Year Collective Switch Online' differs from E.ON's own 'E.ON Energy Fixed 1 Year v12' overall?

My own example...

MSE Fixed 1 Year Collective Switch Online
Estimated new costs = £743/year
Electricity Unit rate = 11.288p
Gas Unit rate = 3.496p

E.ON Energy Fixed 1 Year v12
Estimated new costs = £713/year (hmm EXACTLY £30 cheaper)
E.ON Energy Fixed 1 Year v12
Electricity Unit rate = 11.204p (cheaper than MSE)
Gas Unit rate = 3.560p (more expensive than MSE)

Go with MSE Collection Switch = £743 - £30 cashback = £713
Go with E.ON direct = £713

Difference = £0

Am I missing something here please? You can count out the Tesco points and highstreet vouchers as these are already offered by E.ON and not a 'MSE Collective Switch' exclusive... so where is the saving exactly?

Either way, nothing lost which ever I choose, but considering the big hooha, I thought I'd be saving. I was going to potentially incur a early exit penalty by leaving my current provider as this 'offer' ends tomorrow, but as the offer doesn't offer anything I can't already get, I may as well just wait until I can move without penalty in just a few weeks away now. Of course I could be completely missing something here, so waiting to be enlightened?

Thank you

shammyjack

EON brought in V12 after the CEC deal had been finalised .

They have been haemorrhaging customers over the last few months so have obviously cut their profit margins to regain their customer base .

As other power companies cut rates to compete I expect EON to offer even cheaper tariffs but with only a £5 penalty for early termination and a seamless transition to other EOn tariffs it is a win win situation for a change .

andysterling

For me it's the same price, so with the £30 cash back it's cheaper for me to go with the MSE club.

jackhulk

Hi shammyjack

Ok that makes sense, thank you. Martin did say in his video that this deal may result in others cutting tariffs, so win win like you say.

andysterling - that's good to hear. I expected it to vary slightly from person to person as I think the rate are different slightly in different parts of the country.

I just want to switch and forget for another year, as switching energy has to be one of the most boring things a person can do. I still do it every year though as up until a few years back, I never knew energy tariffs existed (thought it was just a mobile thing!), so was with same provider for years!

The amount of tariffs available from E.On alone is bonkers. It's not like you get 'free minutes' (of energy), or a free boiler with the more expensive tariffs, so why pay more? For example I have the following E.On tariff options...

Annual estimates
Tariff 1 = £713
Tariff 2 = £865
Tariff 3 = 881

And these are just the 'best', so there are many more expensive options. Hmmm wonder which to go for!

jhw280289

Can I just ask, the energy club comparison says I can save £92 a year switching to Eon, but when I look at the price per kWh unit and standing charge per day, both are higher with Eon than with my current tarriff, so I don't see where these savings are coming from?

apt

andysterling wrote: »

For me it's the same price, so with the £30 cash back it's cheaper for me to go with the MSE club.

If you are not with E.ON already you can get more than £30 cashback using topcashback or quidco to switch.

James40

jhw280289 wrote: »

Can I just ask, the energy club comparison says I can save £92 a year switching to Eon, but when I look at the price per kWh unit and standing charge per day, both are higher with Eon than with my current tarriff, so I don't see where these savings are coming from?

I get that as well.

I switched from Eon to the Coop and my Coop tariff is still cheaper than the energy club tariff from Eon.

MSE_Dan_L

It sounds like you might need to check out our answer to this on our FAQs - https://cheapenergyclub.moneysavingexpert.com/collectiveswitch#help (Why is my personal projection so high).

I hope this helps.

[Deleted User]

Had I not started the switch to Extra Energy I'd have taken advantage of the 'big switch' to EON as it was £200 odd a year cheaper than my current EON deal expiring shortly. As it is EE is cheaper still but risks the possible hassles of switching... Monthly DD reducing by £25 based on actual figures