Difference in price quoted...

Fozziebean

Hi,
I am just in the process of switching gas and electric suppliers with a potential very good saving of £42 pm, but just had an email from new supplier saying they would be taking out more than the first quote (which is why I went with them in the first place) they quoted, I know its not much more a month (£3) I just feel a bit peeved with the company, its all still going through at the moment, I just need some advice as in, do these firms always do this, if I went to another firm would that do the same as the first,
Many thanks.

CashStrapped

Do not be distracted by the DD amount, it is meaningless as a guide as to how much you are actually paying.

1.You are joining an energy company during winter. An energy company will always set a DD of a customer joining in winter at a higher amount to take into account the high winter use.

2. You need to concentrate on the pence per KWH which is the cost of what you actually use. This will be (most likely) lower than your last supplier, so you are paying less for every KWH of energy you use.

3. Remember a Direct Debit amount is only an estimate of what you may use based on what you told them you have used in the last 12 months.
You can ring and explain you think the DD is too high and reduce it by £3 to the amount you prefer. It is a flexible amount as it is just an estimate.

The idea is that your DD is an average for the whole year. In summer you overpay in and build up a credit in preparation for winter. In winter you will underpay and use up the credit on the account bringing it back to 0.

footyguy

Whoops - 2 threads started by the OP on the same subject
https://forums.moneysavingexpert.com/discussion/5408637

CashStrapped

The other was already reported but the mods did not react in time.

macman

When picking a tariff, the only figure that matters is the total annual cost-not what the DD is set at.