check your energy web site for deals

plug44

Just had a tip from mse that I could save 80 odd quid on my dual fuel based on Scottish power, however on logging into my sp account I clicked on box to change tariff (fixed energy jan 16) they saved me 167 quid straight away and lasts till sept 16! of course they don't tell you, you have to be clever! Anybody else done the same?

System

plug44 wrote: »

Just had a tip from mse that I could save 80 odd quid on my dual fuel based on Scottish power, however on logging into my sp account I clicked on box to change tariff (fixed energy jan 16) they saved me 167 quid straight away and lasts till sept 16! of course they don't tell you, you have to be clever! Anybody else done the same?

I would double check if I were you. Under Ofgem suppliers' licence conditions, energy companies have to calculate savings in a prescribed way which leads to inflated savings. The basic premise is that you will default to the supplier's standard variable tariff at the end of your current price tariff.

For example:

1. If you have 3 months to run on your present tariff then the calculation is 3 months on current PLUS 9 months on standard variable tariff. This calculation inflates your projected costs.

2. In truth, you will have 3 months on your existing tariff PLUS 9 months on new tariff.

Projected savings = 1 Minus 2. As 1 is inflated so are the savings,.

Bark01

plug44 wrote: »

Just had a tip from mse that I could save 80 odd quid on my dual fuel based on Scottish power, however on logging into my sp account I clicked on box to change tariff (fixed energy jan 16) they saved me 167 quid straight away and lasts till sept 16! of course they don't tell you, you have to be clever! Anybody else done the same?

Actually they do tell you, its on the front page right hand column of every bill. Its also shown on all annual statements, price change notification and product closure letters.

The saving shown is the projected saving over 12 months and assumes you do nothing at the end of your current product.

System

Sorry - I failed to notice the OP was new to this forum - Welcome.

It is worth making a couple of points. Under Ofgem regulations, suppliers can now only offer 4 core tariffs. These tariffs are the same whether they are displayed on the supplier's website or on an Ofgem-approved comparison site. Suppliers can no longer offer special 'deals' or discounts to existing customers.

Suppliers and Ofgem-approved comparison websites have to use the prescribed annual cost projections. MSE CEC and EnergyHelpline offer BOTH the Ofgem calculation and the more realistic calculation based on the customer actually taking some action.

To my knowledge, theenergyshop.com website is the only comparison site that offers a simple comparison of what you would pay for 12 months on your present tariff versus what you will pay for 12 months on your new tariff. I assume that the site is not Ofgem-accreditted but I could be wrong.

Ofgem's prescribed method of savings calculation is flawed ONLY for customers on a fixed price tariff with less than 12 months to run. For customers on a supplier's standard variable tariff or a fixed contract with more than 12 months to run, the savings are accurate.

cifpower

plug44 wrote: »

Just had a tip from mse that I could save 80 odd quid on my dual fuel based on Scottish power, however on logging into my sp account I clicked on box to change tariff (fixed energy jan 16) they saved me 167 quid straight away and lasts till sept 16! of course they don't tell you, you have to be clever! Anybody else done the same?

You don't have to be clever; just run a comparison every few months to see what is on offer.

footyguy

... or sign up to the MSE Cheap Energy club and receive alerts as & when there is a cheaper option.

Other similar alert services are available from alternative providers

plug44

Hi Hengus... Yes I have double checked by logging onto my account and my contract with sp runs now till sept 16. The dd has been reduced now to reflect this and I have no reason to suspect a different tariff will apply so I remain a bit confused with your comment, however I am open to further interpretation of the way energy companies work when customers apply to switch either different suppliers or as in my case switched to a new tariff.

System

My comment was that energy companies do not do deals which was the implication in your original post. If MSE CEC is showing a saving of £80 and the supplier is saying that you will save £167 on the SAME tariff with the SAME projected annual energy usage in kWhs then they cannot both be correct. Both the supplier and the MSE CEC use the same Ofgem-approved calculations (as described above); however, MSE CEC now shows the true annual cost of switching.

Edit:

I have just checked my own energy consumption and compared what I would have paid on SP's fixed tariff ending this month and its tariff ending in 11 months time. My saving would be about £100 pa. My guess is that you need to update your usage profile in MSE CEC. Your latest SP bill will show what SP believes you will use in the coming year.

plug44

Thanks hengus, perhaps I am appearing ignorant but I haven't looked into this too deeply. I will go over the calculation again and report back, please accept my apologies for now.

System

plug44 wrote: »

Thanks hengus, perhaps I am appearing ignorant but I haven't looked into this too deeply. I will go over the calculation again and report back, please accept my apologies for now.

No apology needed. I suggest that you use the comparison site theenergyshop.com. Enter your projected annual consumption in kWhs and your old tariff, and roll down to the latest SP offer. The site will show what you paid last year compared to what you will pay for the coming year. This site does not use the Ofgem comparison method.