New MSE energy deals to come?

victor2

Storminmike1 wrote: »

I'm on EON V19 and had a email from the EHL with an EON collective switch. I plugged in my readings and it said I could save around £8 a month..........cobblers

Their comparison calculation was an outright lie for it would cost me an extra £1 month when I did the maths myself. How can they get away with that? The only thing that changed was the unit rates and S/C for the worse...the discounts were the same...outrageous

It's been well documented on here. The "savings" calculation using the OFGEM approved method for a user on a fixed price tariff with less than 12 months to run will be unrealistically inflated, as they compare with the cost if you do nothing and let yourself go onto the supplier's standard (ie, most expensive) tariff when your fix ends.

Storminmike1

victor2 wrote: »

It's been well documented on here. The "savings" calculation using the OFGEM approved method for a user on a fixed price tariff with less than 12 months to run will be unrealistically inflated, as they compare with the cost if you do nothing and let yourself go onto the supplier's standard (ie, most expensive) tariff when your fix ends.

Thanks for your reply...I'm aware of things like this but it was blatant before and after side by side comparison on their site....they correctly quoted my current monthly cost so didn't inflate it but the switch price was well under what I calculated it to be...not their assumption I'd save several quid

To add this wasn't an annual saving projection but a monthly saving projection

victor2

Storminmike1 wrote: »

To add this wasn't an annual saving projection but a monthly saving projection

But based on your annual usage, so 1/12 of your annual "savings"?

Storminmike1

victor2 wrote: »

But based on your annual usage, so 1/12 of your annual "savings"?

I hope I'm not being thick here but the unit rates were there to see. The T and Cs were the same (discounts. My current monthly cost was calculated by them to be the same as I calculated. Their "monthly projection somehow deducted £8 month as a saving. Had they transposed a future saving into a current one...that's lying

Time period savings are one thing but to bring that saving forward into a monthly value seems preposterous

fredandwilma

Sosumi wrote: »

Wise thinking and wise dealing. :money:

Ironically, though, after all the deals prudently to be done last year, I think the market has now turned and I’m not expecting to be making any further switches for quite some time.

Earlier this month, I took a calculated gamble: I sacrificed the remaining eight months of my excellent E.ON v19 One Year fix and went for EHL’s 2 Year collective fix with E.ON.

That one was released on 20 June, just before the EU Referendum and those who wanted it had 28 days to apply for it: a period that EHL and E.ON, to their credit, duly honoured, despite the Brexit result. Everything else of interest on the market was rapidly withdrawn or revised sharply upwards.

For me, the calculation (in rough figures) is as follows:

Over the next eight months my 2 Year tariff will cost me £120 (in total) more than remaining on E.ON v19 until it concluded in late March 2017. My wager is that I shall recoup that sum (and more) over the following 16 months because what will be available (dual-fuel, with an acceptable supplier) in eight months time (late March 2017, when my v19 fix would have ended) will be greater than £90 a year (£7.50 a month) more expensive than my new 2 Year tariff.

Essentially, I view this as investing £120 in a fall-back position for the 16 months commencing late March 2017.

If the price of other fixes continues to rise, I’ll stay put until July 2018.

If, however, in a year’s time, a cheaper E.ON fix (including collectives) is available for 12 months, I’ll switch to that (and there’ll be no early exit fees to pay for doing so).

I can afford to lose £120 on a bet (it’s a lot less than two tanksful of petrol, at the moment, and could well be less than one tankful of petrol, again, in 2017).

But I’m expecting to win my bet and, either way, whatever happens, I’m safely covered for the next two winters’ energy at easily affordable prices. A re-assuring thought in uncertain times… :cool:

I too, have done the same switch. I was on E.ON v19 tariff, (which was hard to beat,) and although i didn't want to switch as i was happy it was the best tariff around for me, I switched to EHL's collective 2 year fix with E.ON on the last day of availability.

It's projected i'll save £4 a year, but in simple terms the only change to my tariff was a 0.07 p increase in electricity per kwh and a 0.02 p decrease in gas per kwh. As i use three times more gas than electricity at least i won't be worrying as much about putting my heating on in the winter, and overall the tariff will work out cheaper.

The only other competitive tariff was from N Power, but after reading all the complaints, i'm happy to stay with E.ON.

That's not to say, like you, i shall still be watching for cheaper tariffs and I've already signed up for another collective in October. I've switched tariffs four times in a year, but i think those days have gone for now. My gut feeling is the calculated gamble will pay off, though. I think it's going to be difficult to beat the E.ON 2 year fix over the coming months, and I'm anticipating not switching for some time, now.


f&w

Sosumi

fredandwilma wrote: »

I too, have done the same switch. I was on E.ON v19 tariff, (which was hard to beat,) and although i didn't want to switch as i was happy it was the best tariff around for me, I switched to EHL's collective 2 year fix with E.ON on the last day of availability.

It's projected i'll save £4 a year, but in simple terms the only change to my tariff was a 0.07 p increase in electricity per kwh and a 0.02 p decrease in gas per kwh. As i use three times more gas than electricity at least i won't be worrying as much about putting my heating on in the winter, and overall the tariff will work out cheaper.

The only other competitive tariff was from N Power, but after reading all the complaints, i'm happy to stay with E.ON.

That's not to say, like you, i shall still be watching for cheaper tariffs and I've already signed up for another collective in October. I've switched tariffs four times in a year, but i think those days have gone for now. My gut feeling is the calculated gamble will pay off, though. I think it's going to be difficult to beat the E.ON 2 year fix over the coming months, and I'm anticipating not switching for some time, now.


f&w

fredandwilma,

I read, at the time, your posting on the interesting thread (HERE) that addressed this specific issue directly, and, indeed, I found it helpful in crystallising my own thoughts on the dilemma posed.

Your household and mine, however, clearly have significantly different patterns of energy consumption and that is compounded by the fact that our different regions have considerably different unit prices for the same two tariffs.

I’ve interposed (in red, below) ours on yours, so that you can see this.

fredandwilma wrote: »

Hi kindlefirebabe

It sounds as though you are in the same position as me - here is my existing tariff and the tariff i'm going to switch / you've switched to? My tariff expires in January 2017 too.

The only difference between my existing tariff and the switch is the electricity unit rate per kWh is slightly higher than my current tariff and the gas unit rate per kWh is slightly lower. Everything else is exactly the same. As the largest proportion of my bill is gas usage, i'm going to switch, but in 20 days time (when the offer expires,) as it's the summer and i'm using more electricity than gas at the moment. I will be marginally better off with the new tariff.

I suspect energy prices are likely to rise and the two year fix seems quite prudent whilst the effects of Brexit settle.

In the meantime, if a cheaper EON tariff manifests itself, i can always switch again.

Hope this helps

f & w


TARIFF INFORMATION LABEL



EXISTING DEAL
GAS
Supplier E.ON
Tariff name E.ON - Fixed 1 Year v19 Paperless Billing
Tariff type Fixed

Unit rate 2.752p per kWh * Our unit rate: 2.686 pence *
Standing charge 21.90p per day (£79.95 per year)
Tariff ends on 12 months after start of supply





ELECTRICITY
E.ON
E.ON - Fixed 1 Year v19 Paperless Billing
Fixed

10.269p per kWh * Our unit rate: 9.660 pence *
16.42p per day (£59.94 per year)
Tariff ends on 12 months after start of supply




THIS DEAL
GAS
E.ON
E.ON - E.ON EHL Fixed 2 Collective June 2016 Paperless
Fixed

2.636p per kWh * Our unit rate: 2.712 pence *
21.90p per day (£79.95 per year)
Tariff ends on 24 months after start of supply




ELECTRICITY
E.ON
E.ON - E.ON EHL Fixed 2 Collective June 2016 Paperless
Fixed

11.004p per kWh * Our unit rate: 11.403 pence *
16.42p per day (£59.94 per year)
Tariff ends on 24 months after start of supply

* All our standing charges are the same as yours *


So, as you can see, although your gas price reduced by 0.116 pence per unit, ours increased by 0.026 pence per unit.

And, although your electricity price increased by 0.771 pence per unit, ours increased by 1.734 pence a unit :eek: . That one was painful.

Add to this the fact that we are high users of energy (especially electricity) and you can see why, for me, the stakes involved in switching were a lot higher than they were for you and that it only became enticing for me to do so after the result of the EU Referendum! For you, it was frankly a no-brainer.

It’s worth pointing out that, on my household’s energy consumption, the £120 figure in my previous posting is but 6.7% of our annual energy bill (£1,789) on the new tariff and that the new tariff itself is 10% higher than was v19 (£1,616 per annum). An added attraction was that, for us, the EHL Two Year E.ON fix is £432 cheaper (each year) than E.ON’s own v9 two year fix (£2,221 per annum). Not that anyone but an imbecile would switch to that!

Thanks for your input, here, fredandwilma: it's always helpful to see these things in a wider perspective. :money:

fredandwilma

Sosumi wrote: »

fredandwilma,

I read, at the time, your posting on the interesting thread (HERE) that addressed this specific issue directly, and, indeed, I found it helpful in crystallising my own thoughts on the dilemma posed.

Your household and mine, however, clearly have significantly different patterns of energy consumption and that is compounded by the fact that our different regions have considerably different unit prices for the same two tariffs.

I’ve interposed (in red, below) ours on yours, so that you can see this.




* All our standing charges are the same as yours *


So, as you can see, although your gas price reduced by 0.116 pence per unit, ours increased by 0.026 pence per unit.

And, although your electricity price increased by 0.771 pence per unit, ours increased by 1.734 pence a unit :eek: . That one was painful.

Add to this the fact that we are high users of energy (especially electricity) and you can see why, for me, the stakes involved in switching were a lot higher than they were for you and that it only became enticing for me to do so after the result of the EU Referendum! For you, it was frankly a no-brainer.

It’s worth pointing out that, on my household’s energy consumption, the £120 figure in my previous posting is but 6.7% of our annual energy bill (£1,789) on the new tariff and that the new tariff itself is 10% higher than was v19 (£1,616 per annum). An added attraction was that, for us, the EHL Two Year E.ON fix is £432 cheaper (each year) than E.ON’s own v9 two year fix (£2,221 per annum). Not that anyone but an imbecile would switch to that!

Thanks for your input, here, fredandwilma: it's always helpful to see these things in a wider perspective. :money:

Hi Sosumi,

Glad to be of help.

I'm aware of the regional variations although you don't know what they are unless you have a direct comparison like yours. It's interesting both your rates were cheaper than mine on v19 but more expensive on the EHL 2 year collective. I'm a low user of energy, my total gas and electric bill is around £500 per year.

It's amazing the lengths some people go to, to save money! It's getting more difficult now, although i did stay on v19 for that extra month, in effect to gain an extra month of low tariffs. I think i should get a money saving award.

I also persuaded a friend to change to this tariff (with some considerable difficulty i might add,) as they are one of these people who have no idea what they are paying for their energy supply and had been on standard tariffs all their bill paying lives, who thought switching is too much hassle. They don't use gas, but they should save around £270 pa on their electricity consumption, alone. Just think of all those people out there in a similar position or who don't switch, in effect creating the profits for the energy companies?

But you're right, it was a no brainer. After reading several reports about energy price increases already, i think it could well be the last of the best tariffs we see for some time? I could be wrong but i can always switch again. :rotfl:

f&w

Sosumi

fredandwilma,

Thanks for your reply.

Much food for thought. We all do our own comparisons and calculations but seldom get the chance to see just how greatly the same-titled tariff differs for those in other regions.

I’ve never been able to fathom just what “Typical”s so-called “average home” and “average household” comprise in the real world but one thing’s for certain, his “average home” in Aberdeen is going to take a lot more energy to heat than his “average home” in Central London. All of which renders his perpetual hustling about how many hundred pounds its “average owner” can save by switching even more ludicrous.

Thankfully, from our figures, neither of us appear to be “average” – which you probably find as re-assuring as I do!

I meant to add that a further attraction, for me, of the EHL 2 Year E.ON collective fix was that it ends in July (of 2018). I always feel uneasy with 12-month energy fixes that expire sometime between November and the end of March: if you aren’t careful you could find yourself boxed into a corner at the height of winter and have to settle for whatever’s available then. :snow_grin

Whereas, a fix that ends in summer gives you much more elbow room to switch to an agreeable new tariff before its term runs out and before winter arrives.

So, all in all, wherever one may live and however much energy one may consume annually, a two-year fix, at pre-Referendum rates, and ending in July, ticked all the dual-fuel boxes for me in a Brexit-looming future.

Thanks for your help in making my decision to bite my £120 bullet.

I’m glad we both got our fixes in time! :beer:

fredandwilma

Sosumi


Talking about regional variations in temperature, i DO live in a cold weather area, too. With my illnesses, the last thing i want to be worrying about is the cost of putting my heating on and keeping myself warm.

I forgot to say, I've also signed up for my next collective here :-

https://bigcommunityswitch.ichoosr.com/Product/index.rails?actionId=503

You have until the 10th October 2016 to register.


Best wishes f&w


Incidentally, I've also downloaded Windows 10 for free and ordered 12 copies of the Radio Times for £1 (including my xmas issue,) this week. :rotfl:

fredandwilma

Sosumi


https://bigtelegraphswitch.co.uk/about-us/


Winning deals available from 17th October 2016


Although The Peoples Power haven't yet initiated an autumn switch, they DO offer cashback for switching :-

http://www.thepeoplespower.co.uk/

http://www.thepeoplespower.co.uk/2016/06/23/collective-energy-switching-offer-june-2016/

http://www.thepeoplespower.co.uk/how_to_get-lower_energy_bill/

Any offer you switch to with a “I WANT THIS TARIFF” link gets an ADDITIONAL £10 cash back per fuel switched as we share our commission with you. Find out more about how our cash back works

ThePeoplesPower – a Community Interest Company

We run as a social enterprise, as such we are registered as a a Community Interest Company (CIC):

We are reliant on “people power” – we can’t compete with the large energy companies or switching sites as they have far larger advertising budgets – we need all the people who sign up to spread the word to their friends, colleagues and family. Spread the word on how to get the cheapest electricity and gas.

We are committed to working for community benefits

We will spend any surpluses we might generate to not-for-profit energy saving or renewable energy schemes

As a social enterprise we will involve anyone who takes one of our offers in helping us decide how we should spend any surpluses

There's some interesting info and links on there.


I'll probably get banned now, on the other hand has MSE and the CEC gone on their summer hols? :money:


f&w