How to compare tariffs?

Xeorix

I'm fairly new to this being a first time buyer. We've had our house a year now, however we just renewed with EON who the previous owners had, and locked in for year.

That year is now up and it's time to look around, however.. We haven't been at the house properly as its been a year of renovation and things so we can't use our meter readings from last year. That means everything is an assumption.

When I'm looking at tariffs, do I simply need to look at the TCR. Which ever is cheapest out of those will be the cheapest tariff (excluding any fixed fees etc)

Cardew

Just go to a comparison website like www.energyhelpline.com or MSE and enter your best estimate of annual consumption to get the cheapest.


It takes just a matter of minutes to enter several estimates and a pattern will emerge.

Xeorix

That's what I've been doing however they're all way off. Is there really anything to look for, or is the estimate just to show you how much you could save?

It's not a case of the higher your usage, the more your price per kwh for example?

Shrimply

As far as I'm aware the only thing that will really change which provider is cheaper for you is your ratio of gas to electricity usage.

Basically, if you put in a best guess, and go with the cheapest, you might not end up on the absolutely cheapest tariff but you aren't going to be hugely out of pocket.

nomoneytoday

One of the providers gave me a wierd result.

My current tariff was 3.4p/unit +19p a day, they suggested I would save £60 a year by paying 3.4p/unit + 20p a day

JJ_Egan

I only use the actual tariff not TCR or DD or estimated usage cost .
Price per kwh and standing charges .

Nada666

It's not the savings you should look at. The results table will be in the correct order. Look at the total annual cost of those results (pay little heed to the savings.) Compare that with the current annual price you are paying.

Pick a rounded annual usage figure in kWh and stick with that until you get your head round how things work and are displayed.

Reasons for discrepancies include if you are on a fixed tariff that is ending within twelve months they will pro rata factor in the ridiculously expensive standard tariff or they may include a switching commission.

[Deleted User]

Also look at the annual total costs for the separate supply of GAS and ELECTRIC only just in case that works out cheaper than the Dual fuel option. You normally do that by just changing the view option on the results webpage.

footyguy

Xeorix wrote: »

That's what I've been doing however they're all way off. Is there really anything to look for, or is the estimate just to show you how much you could save?

It's not a case of the higher your usage, the more your price per kwh for example?

In what way do you think the output is "way off"? :huh:

It's unlikely, though not impossible, that the comparison site has made any error.
Try putting the same data into a different comparison site and see what output you get.
When you get 2 different sources giving you the same result, chances are that it is right.

footyguy

nomoneytoday wrote: »

One of the providers gave me a wierd result.

My current tariff was 3.4p/unit +19p a day, they suggested I would save £60 a year by paying 3.4p/unit + 20p a day

They will take into consideration the total cost of the tariff(s) over the year, not just selected parts.

Compare annual costs.

Also see previous comment I made to OP about consulting more than 1 comparsion site.

molerat

I often put in high and low usage figures to give me an idea how a cold / hot winter will affect the tariff to choose.