Would you switch?

didgemaster

Question:

I am currently with Sainsbury's Energy (SE Fixed Price August 2016) for both Gas and Electricity. To leave the policy early will cast me £30 per fuel so £60. If I change to GB Energy I'll save £13 per month. So by the time the end of August comes around I'll be £18 better off. Would you switch?

Hasbeen

Personal decision depending on your circumstances.

I would not switch for a few pounds saved.

You could spend a lot of time, always searching for better deals and switching every month or so?

For some substantial savings, would then switch.

I am with GB energy no leaving fees.

JJ_Egan

didgemaster wrote: »

Question:

I am currently with Sainsbury's Energy (SE Fixed Price August 2016) for both Gas and Electricity. To leave the policy early will cast me £30 per fuel so £60. If I change to GB Energy I'll save £13 per month. So by the time the end of August comes around I'll be £18 better off. Would you switch?

£13 per month ?? depends upon one simple fact for me to change .
Is that a figure that is true or just some estimated Direct Debit or estimated usage figure .
True is the actual unit and standing charge costs .

matelodave

I'd wait a bit to see if prices come down even more.

footyguy

didgemaster wrote: »

Question:

I am currently with Sainsbury's Energy (SE Fixed Price August 2016) for both Gas and Electricity. To leave the policy early will cast me £30 per fuel so £60. If I change to GB Energy I'll save £13 per month. So by the time the end of August comes around I'll be £18 better off. Would you switch?

Most people use a lot more energy during the winter than the summer, so if you were to start a switch today, I very much doubt you will save the £18 figure you suggest between March & August.

In fact depending on when you joined Sainsburys (Aug 2015?) if you were to leave now, I wouldn't be surprised if they were to send you big final bill they will expect you to pay.

[Deleted User]

The important thing is not to rely on the quoted monthly cost as this could be incorrect.
The main thing to do is check the individual unit prices of electricity and gas in Kwh costs - only then can you get a direct comparison.

trotter09

Years ago I switched between companies only to find a few weeks later my old company brought in an even better rate.

Now I stay with Scottish Power and switch to their cheapest fixed rate deal. In the past 12 months I've switched 5 times (!) as SP have brought out successively cheaper deals. No exit charge if you stay with SP.

The SP Online Fixed Price April 2017 deal is an excellent deal in our part of the UK. uSwitch is the best site for comparing companies I think. If SP become uncompetitive I would switch away from them but they have been consistently cheapest or within a few quid of being the cheapest for quite a while.

So, OP - if it's a big saving and likely to remain so, switch. Otherwise, it's more trouble than it's worth to change companies.

1trainer1

didgemaster wrote: »

Question:

I am currently with Sainsbury's Energy (SE Fixed Price August 2016) for both Gas and Electricity. To leave the policy early will cast me £30 per fuel so £60. If I change to GB Energy I'll save £13 per month. So by the time the end of August comes around I'll be £18 better off. Would you switch?

I am in the same boat, Mine finishes in June 2016 and I am going to wait as £60 exit fee against the saving leaves with you a few pound difference and not worth the hassle in my opinion

JohnB47

trotter09 wrote: »

Years ago I switched between companies only to find a few weeks later my old company brought in an even better rate.

Now I stay with Scottish Power and switch to their cheapest fixed rate deal. In the past 12 months I've switched 5 times (!) as SP have brought out successively cheaper deals. No exit charge if you stay with SP.

The SP Online Fixed Price April 2017 deal is an excellent deal in our part of the UK. uSwitch is the best site for comparing companies I think. If SP become uncompetitive I would switch away from them but they have been consistently cheapest or within a few quid of being the cheapest for quite a while.

So, OP - if it's a big saving and likely to remain so, switch. Otherwise, it's more trouble than it's worth to change companies.

Thats odd. I'm with Scottish Power too, have been for almost a year on a fixed, no exit fee deal. In all that time I haven't been aware of them bringing out a better deal and they're supposed to advice me if they do. You say you've changed 5 times in a year with them? Are you sure?

I've just signed up to a fixed, no exit fee deal with GB Energy - much cheaper than the Scottish Power deal you mention. And, if I remember correctly, the Scottish Power deal is not exit free.

[Deleted User]

matelodave wrote: »

I'd wait a bit to see if prices come down even more.

Just read a prediction that Brent crude is expected to rise from 31 $ a barrel to $51 in 2017 with what the prediction said was "upward pressure ".. I know nothing about all that so maybe my 2017 BG Collective Fix may be OK..Gas follows oil price does nt it ? But any excuse for the suppliers to stop reducing gas prices is usual.

simreb

I think many of these electricity comparison sites are a con. You should always compare the cheapest tariff for your existing company with the new proposed company tariff. Most comparison sites tend to compare the new price with what you are paying now and if you are part way through a pricing tariff they cost the remainder out at your companies standard price. I am with EDF and always change to their cheapest tariff. I have not found that I could save a significant amount and quite often they are cheaper.
The only true way to compare is to get the cheapest unit prices for your current supplier and compare with the price per unit of the new company based on your units used and look at the result. We have economy 7 meter which gives cheap night rate which some of the new companies do not have.


I think the people that save money on electricity are those idiots who have been on standard tariffs. Always sign up for a reduced tariff with your supplier and just keep moving to a new tariff when it is beneficial.