Advice please: 1st time renting, new build, electricity only

chris112

thank you for explaining i missed the KILO part in calculating
but even the advisor must of miscalculated too!

these are the exact rates:

Tariff Details Monthly Direct Debit
Standard SC DD
TCR 16.84 p/kWh
Unit rate 16.842p
Standing charge 0p


OR



Tariff Details Monthly Direct Debit
Feel Good Fix April 2018 Elec DD
TCR 13.35 p/kWh
Unit rate 10.8885p
Standing charge 20.9055p



With N Power there is no fee for leaving, so i assume i coukd keave them as soon as i move in

but as its my first time setting up utilities i have no idea how much power i use monthly


So is 16p p/watt not competetive for greater london?

CashStrapped

Just do a comparison - do not get hung up on standing charge rates vs KWH rates.

If you do a comparison, the cheapest result is the cheapest result.

You are in a modern (hopefully well insulated) all electric flat.

Your current provider says you will use (you post above), around 3500KWH over a year.

If we take a worst case scenario and say you will use 5000KWH and put that into a comparison site comparing prices in London area, I get....

The cheapest small supplier would cost you £548 over the year.

While the cheapest of the larger companies would cost £659.

So just decide what company you are happy with and pick one.

---

Remember as other have pointed put above. When you first move in you have to set up an account with the existing supplier.

Give them a accurate meter reading (take a photo of the meter too).

Ensure they leave you on a standard tariff (or one without exit fees).

One you have done all that and set-up an account. Go to a comparison site. Fill in the details and switch.

I use energyhelpline.com. Do ensure you select the option to show "all available tariffs".

sniggings

£700 sounds a lot, I live in a modern flat and I pay only £350 for both gas and electric, granted you only have electric, but I really can't see it adding that much, to get to £700.

Yeah have an old person with the heating turned up to 24c, then maybe.

Your main concern is pick the cheaper supplier, after a month or so they will see your usage then adjust your payment, they won't keep you on a high DD if you are using less than they thought.

Your main cost will be heating, and water heating, keep an eye on those and you will be ok, not many other things like TV, PC etc costs that much to run where you need to worry about using them.