MSE News: Energy switching at six-year high – search for the cheapest deals

edited 30 November -1 at 1:00AM in Energy
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MSE_LukeMSE_Luke MSE Staff
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edited 30 November -1 at 1:00AM in Energy
Energy switching rose 30% in 2016 compared with the previous year – but most are still overpaying on standard tariffs...
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'Energy switching at six-year high – search for the cheapest deals'
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  • edited 27 February 2017 at 3:14PM
    footyguyfootyguy Forumite
    4.2K Posts
    edited 27 February 2017 at 3:14PM
    Trade association Energy UK's chief executive Lawrence Slade said: "With ever-increasing numbers of consumers switching, it's clear competition is working for more and more households.
    Is that really what the statistics indicate, or could it be that there are the same number of us who continually look for the best deals but are switching more often?

    Last year I kept my gas & electric with the same suppliers as they were the cheapest for me. (or almost the cheapest as to not bother)
    Actually, I almost had a disastrous switch of electricity to another supplier, but prevented it via an Erroneous Transfer. Is that disregarded, or is that counted as 2 switches?

    This year, electricity is almost certainly to be switched, and there is currently a question-mark over the gas. I was heading towards Economy Energy, but you will see from my comments on their feedback thread that that won't be happening now.

    But it demonstrates, perhaps, that with the increasing new entrants that are often cost competitive, it may simply be tempting those of us who are already used to switching to switch even more frequently, leaving the 66% of sticky customers, remaining firmly stuck and paying over the odds.
  • PincherPincher
    6.6K Posts
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    Let us assume that EVERYBODY switches once a year, is that really the most efficient use of our time? How much admin effort goes into this fiasco? All these people getting employment sounds great, until the customer ends up paying for it.
  • teddysmumteddysmum Forumite
    9.4K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
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    I think more, who would have previously stayed (I have as the actual, as opposed to claimed on switch sites savings have been zero or not worth the hassle ) are being incentivised to consider moving because of the shocking increases ( the latest large ones added to ones already made after fixes were taken up).


    I'm very wary of the small companies, as they are inexperienced, yet the long standing ones make so many errors .


    A special concern is that, if moving from a dual fuel offer, the two fuels are migrated at a different date.


    The supplier has to honour the fix if you leave within the permitted time (ie after notification but before the fix's official end date), but is this the case if one fuel leaves, as the duel fuel part of the contract has been broken ? (In which case would you have to pay the standard rate ? )
  • footyguyfootyguy Forumite
    4.2K Posts
    teddysmum wrote: »
    I think more, who would have previously stayed (I have as the actual, as opposed to claimed on switch sites savings have been zero or not worth the hassle ) are being incentivised to consider moving because of the shocking increases ( the latest large ones added to ones already made after fixes were taken up).


    I'm very wary of the small companies, as they are inexperienced, yet the long standing ones make so many errors .


    A special concern is that, if moving from a dual fuel offer, the two fuels are migrated at a different date.


    The supplier has to honour the fix if you leave within the permitted time (ie after notification but before the fix's official end date), but is this the case if one fuel leaves, as the duel fuel part of the contract has been broken ? (In which case would you have to pay the standard rate ? )

    I've never lost out due to switching from a dual fuel to single fuels elsewhere, even when the switches occur at different times (in fact they can switch at different times even when switchhing to another dual fuel supplier)

    I think there was one supplier (Scottish Power perhaps?) that did make it complicated. From what I recall, they did stop the dual duel tariff when one supply was moved away, but once the other was moved too (within the permitted timeframe) they then processed a reconciliation credit so the final bill was as if it was on the dual fuel traiff all along.
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