There must be a better way to buy electricity and gas…

modsandmockers

windup wrote: »

false analogy

you aren't locked to a gizmo, you aren't locked to a provider, unless you choose to be, you can shop around all you like, the stuff is delivered to your door and billed and negotiated on your behalf, there is a cost associated with that called standing charges, it can be hidden in the cost per kwh if it really aggravates so much, but you're paying it whatever.

Please enlighten me - I want to buy my electricity from a different supplier, starting tomorrow. What is the procedure I need to follow?

[Deleted User]

windup wrote: »

it was an analogy, introduced to the topic by the op

electricity/gas companies provide a service, and make a small profit, just like every other company, no miffs at all.

The idea that the population would prefer a system of continual topups and price haggling rather than fixing once a year is bizarre. Life is complicated enough, fortunately most of us have moved beyond the coalman days

But thats whats happening over in Northern Ireland. 41% ( and counting )of the population have gone for smart prepay even when they re using a fairly complicated meter like the Secure Liberty. They are seeing reduced prices too. Its not bizarre, its reality and theres a good reason for it. People like the convenience and ease of buying energy like this and its not just for the high risk bad debtors going for it.
Get the meters and the systems set up correctly and smart prepay will be the most cost effective way of buying energy.Self managed, no meter reads needed, no disputes, no theft and fiddles with credit meter defaulters. Once the suppliers get confidence and see its working properly I can t see why it can t be the cheapest way of buying energy. No need for a middleman supplier taking a huge mark up for doing virtually nothing.

windup

http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

people have different mindsets when it comes to financial matters, but there is no way it's more convenient or cost effective to mess about with continual topups. payg is more expensive per minute on phone contracts, buying in advance allows security of supply and price.

There will always be a middleman, their annual profit per customer probably wouldn't cover the monthly sky bill

[Deleted User]

If the price for my energy dropped from the best one year fix on direct debit then I would certainly buy my energy in say, £50/£100 chunks.It would take seconds to buy it .Just an app on the phone. Market forces would take over and if I could buy my leccy at 8p/kwhr and a reduced standing charge then thats what I would do.
Old prepayment meters costs the earth to run,open to easy fraud,always being messed up by occupiers, their prices have been subsidised down to standard tariffs when they should reflect the true costs of running these.
Northern Irelands Budget Energy are the Ryanair of the energy business and are looking to export to the rest of Great Britain.They have 95% of its customers using the smart keypad prepay and they offer the lowest prices in N. I.with a discount on the normal standing charges because of the low upkeep of these meters. At the moment they are semi smart and so still need to access the meter to top up but when fully smart that wont be needed.

modsandmockers

windup wrote: »

buying in advance allows security of supply and price

Yes - it's called 'prepayment'!

modsandmockers

sacsquacco wrote: »

Self managed, no meter reads needed, no disputes, no theft and fiddles with credit meter defaulters. Once the suppliers get confidence and see its working properly I can t see why it can t be the cheapest way of buying energy

Not only the cheapest, but also the easiest. One of the advantages for the supplier is, presumably, that they no longer need to pretend to provide any kind of 'customer service' - "you pays yer money and you gets yer gas (and electric...)" - problem solved!

windup

I was just starting to think you are coming across as one of those people that look for things to object to and fight against just for the sake of it, direct debits, parking tickets, tv licences, smart meters etc

lo and behold, your first thread mentions cancelling the tv licence.

[Deleted User]

But over the water Budget Energy offer Northern Irelands lowest tariffs , and 95% of its customers are on smart keypad prepay. They re looking to export over here. They have even lowered their standing charges because of the low upkeep of the meters.
Our suppliers have a continued battle with billing and meter readings.Look how bad Npower and Scottish Power are at it. This all adds to the costs.
We see it on here every week with people coming on for a rant and compo advice because they feel their suppliers have`nt managed their lives for them in a kind of nanny state way. Smart prepays will at least get their prices down to the best one year fixes and quite rightly too because they will be costing the least to run

windup

lets imagine 5 years from now, everyone has a compatible smart meter,ihd, and the prices are the same

customer a pays £100 automatically by direct debit every month
customer b pays £23.07 every week by phone app, local shop, bank transfer etc

both customers get the same electricity/gas at the same time for the same price, but customer a has a much easier life.

customer c is on a wildly variable tariff, buys a days worth at a time, based on the fluctuating market price plus overheads, they spend all day waiting for the right time to hit the buy button and send themselves to an early grave in order to try and save £30pa

modsandmockers

windup wrote: »

customer c is on a wildly variable tariff, buys a days worth at a time, based on the fluctuating market price plus overheads, they spend all day waiting for the right time to hit the buy button and send themselves to an early grave in order to try and save £30pa

Yep - that's pretty well what MSE recommends!