Can't Find a Cheaper Energy Quote

Rossmasa

Hi All

I am Currently on EON Energy Fixed 1 year V19 (both fuels) which is due to expire in February. I pay £902.12 a year.

EON themselves best quote is to transfer to EON Energy Fixed 1 year V21.for £1207.40 a year

An increase of £305.28 a year or 34% .

That’s ok I thought I’ll go on Cheap energy club and do a comparison and would you believe eon is actually the cheapest option.

Have I missed something somewhere in the last year that justifies such a price hike !

[Deleted User]

Yes, the price of fuel is in US Dollars and the Pound has lost to the Dollar. So that is the start of the rises.

Do not trust just 1 price comparison site as all sites can have private deals just for their customers.

Energy suppliers have to give their permission to be listed on switching sites and some do not allow it or block certain comparison sites.

Also look for separate suppliers for gas and electricity as this can be cheaper.

System

Rossmasa wrote: »

Hi All

I am Currently on EON Energy Fixed 1 year V19 (both fuels) which is due to expire in February. I pay £902.12 a year.

EON themselves best quote is to transfer to EON Energy Fixed 1 year V21.for £1207.40 a year

An increase of £305.28 a year or 34% .

That’s ok I thought I’ll go on Cheap energy club and do a comparison and would you believe eon is actually the cheapest option.

Have I missed something somewhere in the last year that justifies such a price hike !

I have had to scroll pages down CEC to reach E.oN v21 - there were lots of cheaper dual fuel deals for my usage and postcode. I agree that separate suppliers might be the way forward if you are prepared to accept a variable tariff for electricity.

It is worth pointing out that in addition to the £ v $ change, electricity has also been hit by other costs imposed by the Govt and Ofgem. The wholesale price of electricity now only accounts for 36% of what appears on your statement.

molerat

In the interests of competition it has been deemed that you now need to search for the best deals instead of having them presented to you on your chosen comparison site. How that works I don't understand but those highly paid idiots in the various government quangos have decided that is the way to go so it must be right

I have just switched to Iresa who do not appear on any comparison site and were 10% cheaper than anything else I could find.

Rossmasa

Thanks for you advice guys looks like I will have to look a little harder for that good deal.

Still appalled by the increase , even with the devaluation of the pound to dollar this is only a 17% increase and the costs associated with Electricity shouldn't they(the companies) be picking them up and not just passing it onto the customer .

Looking at it closer going on a fixed rate on eon would only be a saving of £38 a year compared to being on their standard rate , pointless !

Rossmasa

molerat wrote: »

I have just switched to Iresa who do not appear on any comparison site and were 10% cheaper than anything else I could find.

Top Tip , Just been on Iresa for a quote , will only be a £5 a month increase in my direct debit.

Thank you molerat

System

Rossmasa wrote: »

Thanks for you advice guys looks like I will have to look a little harder for that good deal.

Still appalled by the increase , even with the devaluation of the pound to dollar this is only a 17% increase and the costs associated with Electricity shouldn't they(the companies) be picking them up and not just passing it onto the customer .

Looking at it closer going on a fixed rate on eon would only be a saving of £38 a year compared to being on their standard rate , pointless !

The biggest increases are nothing to do with the suppliers: they are imposed extras placed on the bill by the Govt/Ofgem: for example, the £Ms handed out to generators to keep old power stations and diesel generators available just in case they are needed; climate change levies, and failed supplier bail outs.

Have a look at the graphics on this link and you will see how the cost of gas and electricity has fallen as a proportion of the bill since 2010:

http://www.energy-uk.org.uk/customers/about-your-energy-bill/the-breakdown-of-an-energy-bill.html

The proportion of wholesale costs on an average dual fuel bill has fallen from 54% in 2010-11 to 34% in 2016-17.