Goodbye BG Collective Fix Feb 2017

STEPHENTHEPICT

I found the best best deal to be IRESA for electricity and So energy for gas. On my usage of Gas 30,000 kwh and Electric 6,642 kwh. (£161.63 cheaper than energy switch 6 for full year - or £191.63 cheaper if you ignore the £30 discount). There was no benefit in going for dual fuel - I have found you need to split them out to get the best deal. £15 or £30 discount over a year is paltry (peanuts even !).

STEPHENTHEPICT

I'm all the way to the bank.

fredandwilma

STEPHENTHEPICT wrote: »

£91K is absolute peanuts in this game !

STEPHENTHEPICT wrote: »

"What % are you aiming for then ?" - this remark displays a complete misunderstanding of my point. Stay with IRESA - you'll be fine and have the cheapest energy bills on your street.

I already have the cheapest energy bills on my street, (and cheaper than Iresa,) but thanks for the offer, anyway. :rotfl:

It's good to talk. What are you having for tea?

rusty_frog

fredandwilma wrote: »

You won't be covered by OFGEN, I'm afraid.

Are you saying that we (Iresa migrants) wouldnt be covered by OFGEN if they go belly up?

ChaunceyGardiner

rusty_frog wrote: »

Are you saying that we (Iresa migrants) wouldnt be covered by OFGEN if they go belly up?

Correct. OFGEM, on the other hand, would be of assistance.

rusty_frog

I have taken the chance with Iresa.
I have passed the 14 days, had the first payment taken out ,and been given the 27th of Feb as my change over date.
So far so good.
Maybe I have managed to swap before the stampede!

Time will tell.

phillw

Hengus wrote: »

What isn't guaranteed is Ofgem agreeing a deal with the appointed supplier to take on a failed supplier's customers on their current tariff terms.

If they don't then everyone switches onto whatever the best deal is at the time. Depending on what the tariffs are like and how long you've benefited from the Iresa tariff, will determine whether switching to them is a good or bad idea.

My cooling off period is up now, but as there is no leaving penalty then I can switch away if I get itchy feet. I would hope the influx of up front DD will keep them going for a while.

beansy

Hi

This is for my son and I'm struggling between the Winning EDF Collective 12 mth Fix and the Scottish Power Fix until June 2018 which is 4 months longer. Any thoughts please?

EDF Energy
Simply Fixed February 2018
You could save £99/yr on what you would've paid
Estimated new costs £464/yr
£39/month
What to expect
£70 Exit Fee
Warm Home Discount

ScottishPower
Online Fixed Price Energy June 2018 v2
You could save £105/yr on what you would've paid
Estimated new costs £458/yr
£38/month
What to expect
£60 Exit Fee
Warm Home Discount


Thanks
Syl :beer:

ASavvyBuyer

beansy wrote: »

Hi

This is for my son and I'm struggling between the Winning EDF Collective 12 mth Fix and the Scottish Power Fix until June 2018 which is 4 months longer. Any thoughts please?

EDF Energy
Simply Fixed February 2018
You could save £99/yr on what you would've paid
Estimated new costs £464/yr
£39/month
What to expect
£70 Exit Fee
Warm Home Discount

ScottishPower
Online Fixed Price Energy June 2018 v2
You could save £105/yr on what you would've paid
Estimated new costs £458/yr
£38/month
What to expect
£60 Exit Fee
Warm Home Discount


Thanks
Syl :beer:

The "savings" figures are meaningless, as they relate to going on to the standard (most expensive) tariff.

If you have not done it already, you need to do a proper comparison using annual kWh for electricity & gas. That way you will find out what is actually the best deal from a wider range of companies. Collective deals at the moment are usually more expensive than choosing seperate companies for gas & electric.

Regarding a longer fix, if it is only a few pounds more per year (say less than £10) it is up to you whether you want the guaranteed rate per unit for longer.

In the unlikely event that unit rates (and standing charges) go down substantially, you can always switch again to a cheaper tariff, taking into account the exit fees.

c_smith

beansy wrote: »

Hi

This is for my son and I'm struggling between the Winning EDF Collective 12 mth Fix and the Scottish Power Fix until June 2018 which is 4 months longer. Any thoughts please?

EDF Energy
Simply Fixed February 2018
You could save £99/yr on what you would've paid
Estimated new costs £464/yr
£39/month
What to expect
£70 Exit Fee
Warm Home Discount

ScottishPower
Online Fixed Price Energy June 2018 v2
You could save £105/yr on what you would've paid
Estimated new costs £458/yr
£38/month
What to expect
£60 Exit Fee
Warm Home Discount


Thanks
Syl :beer:

Agree with AsavvyBuyer re using usage in kwh in your comparisons, it's much more accurate. Personally, if it were me, I'd go for the slightly longer Fix with the slightly cheaper Scottish Power. I doubt energy prices will come down significantly (if at all) over that period.

Remember to check the comparisons for separate gas and electricity suppliers too, don't just assume dual fuel will be cheaper.