E.ON Energy Fixed 1 Year v18

jlfan

AncientEngineer wrote: »

Like many others, I've been holding out for a reason to stay with Eon - but feel as if I'm being pushed away. Surely there must be a huge number of customers who were on the Feb 16 collective tariff who are in the same position - i.e. would like to stay with Eon. but will be forced to switch in a couple of weeks.

Has anyone found a good elec supplier offering better rates than those shown on the Cheap Energy Club price comparison? I've read the earlier references to Iresa - does anyone have any feedback/experiences with this company?

Some more info in the thread "EON, Bristol Energy or Iresa?"

Patr100

AncientEngineer wrote: »

Like many others, I've been holding out for a reason to stay with Eon - but feel as if I'm being pushed away. Surely there must be a huge number of customers who were on the Feb 16 collective tariff who are in the same position - i.e. would like to stay with Eon. but will be forced to switch in a couple of weeks.

Has anyone found a good elec supplier offering better rates than those shown on the Cheap Energy Club price comparison? I've read the earlier references to Iresa - does anyone have any feedback/experiences with this company?

It's got its own thread for feedback.

https://forums.moneysavingexpert.com/discussion/5454979

Am tempted but reviews and feedback have been mixed.

fredandwilma

Patr100 wrote: »

It's got its own thread for feedback.

https://forums.moneysavingexpert.com/discussion/5454979

Am tempted but reviews and feedback have been mixed.

Even I'm tempted, their tariff is almost identical to what I'm currently paying for both gas and electricity, however, I'm still receiving the additional discounts, rewards, etc from E.on, which still makes E.on considerably cheaper than Iresa.

If you do some cross referencing on companies house, there's info on there which would make me uneasy about choosing Iresa. They can't keep their prices this low, forever? That's just a personal view.

System

fredandwilma wrote: »

Even I'm tempted, their tariff is almost identical to what I'm currently paying for both gas and electricity, however, I'm still receiving the additional discounts, rewards, etc from E.on, which still makes E.on considerably cheaper than Iresa.

If you do some cross referencing on companies house, there's info on there which would make me uneasy about choosing Iresa. They can't keep their prices this low, forever? That's just a personal view.

They have recently increased their prices and they don't pay PCW referral fees. Risky - yes, but I took the view that, with a fixed term contract and Ofgem's credit protection levy, the price/risk ratio made Iresa a risk worth taking. That said, their account set up processes are a little slow.

fredandwilma

Hengus wrote: »

Risky - yes, but I took the view that, with a fixed term contract and Ofgem's credit protection levy, the price/risk ratio made Iresa a risk worth taking.

After all, any losses will be absorbed by all energy consumers.

System

fredandwilma wrote: »

After all, any losses will be absorbed by all energy consumers.

Meaning that the 64% of every electricity bill that has nothing to do with the wholesale cost of electricity will increase further.

brewerdave

Hengus wrote: »

Meaning that the 64% of every electricity bill that has nothing to do with the wholesale cost of electricity will increase further.

Am I alone in musing that these new entrants should be forced by OFGEM to raise a bond (or some form of insurance) to cover financial collapse when they enter the market?
It seems to me that the small companies are effectively gambling on futures to allow them to undercut the big 6 -and then the customers of the major Utility Cos. will carry the cost if they fail.:(

System

brewerdave wrote: »

Am I alone in musing that these new entrants should be forced by OFGEM to raise a bond (or some form of insurance) to cover financial collapse when they enter the market?
It seems to me that the small companies are effectively gambling on futures to allow them to undercut the big 6 -and then the customers of the major Utility Cos. will carry the cost if they fail.:(

I agree, but Ofgem doesn't. As far as Ofgem is concerned, it would stifle competition and put a significant regulatory cost, with an additional workload, on Ofgem. They said as much in the paper proposing the customer levy on defaulting suppliers. There is of course an argument that any additional fees for bonding would be passed on to customers in any event. That said, I share your point of view that the customers of well-established suppliers wouldn't end up paying for those who get their buying/financing wrong.

nick_pike

fredandwilma wrote: »

Even I'm tempted, their tariff is almost identical to what I'm currently paying for both gas and electricity, however, I'm still receiving the additional discounts, rewards, etc from E.on, which still makes E.on considerably cheaper than Iresa.

If you do some cross referencing on companies house, there's info on there which would make me uneasy about choosing Iresa. They can't keep their prices this low, forever? That's just a personal view.

Are you on v19? I am. I fail to see how discounts and rewards make EON 'considerably' cheaper. Can you supply some figures? The discounts are relatively small and the rewards have very little vale.

So what can go wrong for me signing with Iresa?

nick_pike

Hengus wrote: »

They have recently increased their prices and they don't pay PCW referral fees. Risky - yes, but I took the view that, with a fixed term contract and Ofgem's credit protection levy, the price/risk ratio made Iresa a risk worth taking. That said, their account set up processes are a little slow.

I've signed with Iresa. What are the risks? Can my energy be turned off, for example?