Cheap Energy Club - Is the New Format an Improvement?

footyguy

Could you let me know your supply region please (or first part of your post-code)

Shrimply

Sure, It's South Scotland (KY). Thinking I might learn something here.

footyguy

Thank you

I have just checked with EHL and can confirm that you are indeed looking at the weighted results

The standard results indicate an annual cost for gas of £194.36 and electricity of £207.96 (which is the value you would actually get if you did the similar calculation you did with gas)

The difference between weighted and standard results (how they are calculated) is explained on the EHL website if you click the link there I mentioned.

Current FU variable tariff (iSave Everyday v3 monthly payment by DD) for you would be:

Gas
2.991p per kWh
Standing charge 27.50p per day (£100.38 per year)

Electricity
16.361p per kWh
Standing charge 5.00p per day (£18.25 per year)

Quite different to the tariff you are currently on

Shrimply

Ok, sorry I was wrong about the standard tariff being similar, what I meant was that it was much the same in how much it would cost me.

That being the case, I still can't see how they get the figure they do, although to be fair I can't see a link you posted?

This is the only one I could find...

https://www.energyhelpline.com/fri/fri/domesticenergy/domestic/gethelp?reference=CappedTariffInformation

So given that a year on their standard tariff is slightly more expensive than what I'm on now where does that £154 figure come from. I'm not trying to be awkward, but I am very confused, and I thought I had a grasp of this stuff.

footyguy

See post #10

I didn't post a link, but indicated where you will find the link on the EHL site

Shrimply

footyguy wrote: »

See post #10

I didn't post a link, but indicated where you will find the link on the EHL site

Ok I'm going to give up, it doesn't make sense to me, there is just no way that the figure they quote can be right. Unless you can show me the calculation.

On the standard tariff the yearly cost would be £205 on my tarriff the yearly cost is £194.38. There is no mathematical was to make the numbers as low as their estimate.

I'm going to stick with the CEC, their estimates make sense,

footyguy

Whilst you are looking at the weighted results, you are more or less looking at the standard tariff as your current deal ends in 2 months.

The fact you are failing to understand the calculation does not mean the calculation is wrong. EHL gives the same answer (+/-2p rounding error) for gas as you came up with if you look at the standard results. Accurate result? Or just an amazing coincidence?

However, the problem (or part of it) with this result is that on 01 November 2015 you assume you will be paying 19.5p per day standing charge, and that just isn't possible I'm afraid.

Shrimply

footyguy wrote: »

Whilst you are looking at the weighted results, you are more or less looking at the standard tariff as your current deal ends in 2 months.

So where does the £154 they estimate come from, when a year on the standard tariff is estimated at £205?

System

Ok, I have just run my figures thro' EHL and theenergyshop. (I cant use MSE CEC as it is still 1 1/2 switches behind). EHL asks for a specific end of contract date: theenergyshop doesn't. This distorts the annual cost slightly. That said, both sites show that I could save £23 pa by switching. If I switch back to the EHL standard view (Ofgem-mandated) then the projected saving is £39. Both sites tell me what savings I could achieve; however, before switching, I choose my preferred supplier (not always the cheapest) and put the tariff details in a simple spreadsheet. Why - because comparison sites do not tell the whole story. Living in a Gas CH house, I prefer a supplier with a high standing charge and a lower unit cost. Also, when the energy market is volatile, i might want to choose a supplier with no tariff exit fees.

modsandmockers

Shrimply wrote: »

Ok I'm going to give up, it doesn't make sense to me

This is precisely the result that the energy suppliers aim for. If you know how many kWh's of energy you used last year (gas and electricity separately), then all you need to know are the tariff prices (gas and electricity separately). Each fuel will have its own daily standing charge (which you can easily convert into annual figures) and then there will be a fixed price per kWh (different for each fuel). If you can persuade the comparison site or the energy supplier's own site to tell you the tariff prices, then you will easily be able to work out your estimated costs for the coming year.