USwitch comparison misleading.

chrismbt

Last year I was on a 12 month fixed tariff with OVO. At the end of the tariff I compared suppliers and decided to stay with OVO on a new 12 month fixed tariff. There were some tariffs that were a few pounds cheaper, but I liked OVO's helpful customer service and their on-line bill management.

Currently I am 6 months into a 12 month fixed tariff period.

USwitch keep telling me to "Switch NOW" and I can save up to £108. One of the tariffs they recommend switching to is a more expensive tariff from OVO. So how would this save me £100?

Their calculations are based on me doing nothing when my current fixed tariff ends in 6 months, and therefore being rolled onto OVO's expensive 'Standard Tariff'. Their projected saving is based entirely on charges AFTER this fixed period ends. I would NOT do this.

If I switch NOW as they keep telling me to, rather than wait till the end of this fixed tariff and compare prices then, I won't save £108. I will actually end up paying more overall as the tariffs they recommend are more expensive than I am paying now.

It is misleading to suggest that NOW is the right time to change tariff and the savings are based on unrealistic assumptions. This annoys me.

footyguy

chrismbt wrote: »

Last year I was on a 12 month fixed tariff with OVO. At the end of the tariff I compared suppliers and decided to stay with OVO on a new 12 month fixed tariff. There were some tariffs that were a few pounds cheaper, but I liked OVO's helpful customer service and their on-line bill management.

Currently I am 6 months into a 12 month fixed tariff period.

USwitch keep telling me to "Switch NOW" and I can save up to £108. One of the tariffs they recommend switching to is a more expensive tariff from OVO. So how would this save me £100?

Their calculations are based on me doing nothing when my current fixed tariff ends in 6 months, and therefore being rolled onto OVO's expensive 'Standard Tariff'. Their projected saving is based entirely on charges AFTER this fixed period ends. I would NOT do this.

If I switch NOW as they keep telling me to, rather than wait till the end of this fixed tariff and compare prices then, I won't save £108. I will actually end up paying more overall as the tariffs they recommend are more expensive than I am paying now.

It is misleading to suggest that NOW is the right time to change tariff and the savings are based on unrealistic assumptions. This annoys me.

What realistic assumptions should the website use, bearing in mind it has no magical crystal ball?

The fact is most people are languishing on their suppliers expensive standard variable tariff, so that is quite a valid assumption to make (as well as it being specified by the regulator!)

Why not dump uSwitch and use MSE Martin's favourite comparison site, no not his own Cheap Energy Club, but Energyhelpline!
But either one will show you a totally unrealistic option that indicates a saving you will never, ever achieve (unless by some very odd quirk, you were able to secure in the future another tariff which is exactly the same price as your existing fixed tariff)

BTW, lots of threads already have discussed this, but always nice to have another as it gives me another opportunity to give the same response! :cool:

System

The other point to bear in mind is that Ovo does not permit what it calls 'tariff hopping'. You may well be on one of the tariffs with exit fees. The newer tariffs which do not have exit fees have a switching charge of £30 per fuel UNLESS you leave and stay away for a minimum of 3 months. The switching charge is waived if moving from a standard to a fixed tariff. Comparison sites have not picked up on this subtle change to Ovo's ts and cs.

Another good website for a simple energy annual cost comparison is theenergyshop.com.

chrismbt

Aldi shoppers: You can save hundreds of pounds now by switching to Waitrose. (Assuming all your shopping next year would have been from Fortnum and Mason).

naedanger

footyguy wrote: »

What realistic assumptions should the website use, bearing in mind it has no magical crystal ball?

They don't need any crystal ball to know that the OP would be better off, for the remainder of his fixed term, remaining on his current fixed tariff.

The OP is right to be annoyed that a commercial organisation is aiming to make money for themselves at his expense.

The fact is most people are languishing on their suppliers expensive standard variable tariff, so that is quite a valid assumption to make (as well as it being specified by the regulator!)

They clearly know what tariff the OP is on now. No assumptions are needed.

Why not dump uSwitch and use MSE Martin's favourite comparison site, no not his own Cheap Energy Club, but Energyhelpline!

Perhaps, because "either one will show you a totally unrealistic option that indicates a saving you will never, ever achieve (unless by some very odd quirk, you were able to secure in the future another tariff which is exactly the same price as your existing fixed tariff)"

BTW, lots of threads already have discussed this, but always nice to have another as it gives me another opportunity to give the same response! :cool:

The OP's point (that now is not the best time for him to switch) is completely valid. I don't understand why the regulator cannot see the problem.

ukbirdflu

I find the Uswitch price comparison/potential saving extremely misleading.

I used them before for energy so they keep on sending me notice of how much I can save by switching, the savings can be as high as £500. I am already with Scottish Power on their Fixed Price Nov 2015 when they emailed me I can say £447 by moving to Oct 2016 deal. Good job this deal is not available on Uswitch so I moved by phoning Scottish Power. The saving I can get by moving from Nov 2015 to Oct 2016 deal is actually £200, I made a complain to Uswitch saying it is misleading and of course they reply denying the facts and they have complied with Offgem guidelines.

What they have compared is NOT the new scheme with my present deal, they compared the new scheme with what I might be on when my present Nov 2015 deals runs out and according to Scottish Power if my current deal expires and I did nothing, I will be on their "Standard Tariff".

I think this is a bunch of useless information and before you use Uswitch make sure you know exactly what information they have used to calculate the savings figure, It is obvious that they will inflate the amount to their advantage whether or not they are following Offgem's guideline I do not know, if this is indeed Offgem's guideline it is grossly misleading.

victor2

OFGEM are a waste of good air that other people could be breathing. Their comparison guidelines and simplification of energy tariffs are a complete waste of time.
Anyone who has the foresight and ability to search for new tariffs before their current one expires, is not going to let themselves languish on an expensive standard rate. The closer you are to the end of your tariff the bigger the supposed "savings" get.
The best way is to totally ignore the predicted current costs and look at what the future costs are likely to be with the various suppliers a comparison site suggests.Compare them with each other and use any other factors, such as supplier reputation, to decide who to go with. If your current tariff is better, stick with it, especially if it has an exit penalty.

g3rsm

I've just come across this problem as my fixed tariff ends in June 2016, and every time I check, the savings get bigger and bigger, even my current company suggests I should switch to a dearer tariff and save money! I see no reason to assume you will be going on a standard tariff. Annual costs should be based on your current tariff not an assumed one. I also think exit charges should be banned, even if those Companies that have an exit fee then raise their charges minimally to cover the loss, at least they will all then be on a level playing field. I find there is only one way to truly compare in this situation, and that is to do the calculations yourself based on the tariffs and KWh usage. Your current tariff figures should be on your bill.