Would you switch even to make a Minor saving !?!?

Neil_Jones

I have switched for what ultimately turned out to be a saving of about £3 but that was with the same supplier, who later went out of business and as things turned out, the rate I'd moved to was a major steal and I'm sad to be losing it next month.

That being said, it's always worth looking at splitting your energy suppliers, costs nothing to get a quote through the Energy Club - dual fuel used to be theoretically cheaper than having Company X for gas and Company Y for Electricity but in the last couple of years or to that hasn't been the case, especially with the rise of the gas only companies like Zog for example.

macman

Look at it this way: for perhaps 15 mins work, you get £30. That's £120 per hour-not a bad return. Only you can decide if it's worth it.

teddysmum

I haven't moved for trivial saving for three reasons:


You don't use exactly the same amounts of power each year,so the saving could be even less.


You hear of problems with changeover.


Problems with small companies going to the wall.


Ripoff Britain did an article on small companies, yesterday, in which they explained that if a small company goes under, they transfer you to another company. This company may be offering poor rates , so you have to change again, but may now only have available offers that are not even as good as ones you passed by to go to the small company.


Admittedly a negative view, but enough to swing me to not moving for small possible savings.

System

teddysmum wrote: »

Ripoff Britain did an article on small companies, yesterday, in which they explained that if a small company goes under, they transfer you to another company. This company may be offering poor rates , so you have to change again, but may now only have available offers that are not even as good as ones you passed by to go to the small company.

Not entirely true. Ofgem steps in whenever a supplier goes bust and it has the powers to appoint what is termed a Supplier of Last Resort. When GBEnergy went bust, Ofgem invited suppliers to bid for the customer base and Coop Energy came forward with what Ofgem deemed was an acceptable offer. From late Autumn last year, Ofgem introduced what is called a Consumer Levy to protect all customer credit balances. This is paid for by all energy suppliers.

It is worth pointing out that all GBEnergy customers who were transferred to the Coop were 'switched' on their GB tariff terms. Put simply, nothing changed for GBEnergy's customers. They didn't even have to complete another DD mandate.

In my view, if another supplier went bust today, Ofgem would probably have to adopt the same model so no question of putting you on to a bad deal. If that was the case, then switching out would be allowed without penalty.

A bit of hassle - yes, but energy consumers now have better supply, tariff cost and credit protection than is the case if your mobile or broadband provider goes bust.

Pincher

I have trouble every time I switch anything, be it energy or telephone/TV/broadband.

It takes a significant difference to make me switch.

E.On was sweet and low for years, with their insane ~26% online discount, and yet fixed for about year, and they allowed you to tariff hop when there is one cheaper. Wailing and nashing of teeth about six years ago, when I realised there were no more cheap tariffs to hop to.

Blind luck took me to Scottish Power, which was going through a computer upgrade, so a bit bumpy initially. As it turns out, the computer seems to work now, and I can tariff hop like a rabbit.

Still, if E.On wants to bring out the Mad Hatter special, with 1.6p per kWh gas, 60p standing charge, again, I'm game. My Scottish Power tariff was so cheap last year, I didn't bother, but with my fix ending in June, I'm quite keen.

icharus

Hengus wrote: »

Not entirely true. Ofgem steps in whenever a supplier goes bust and it has the powers to appoint what is termed a Supplier of Last Resort. When GBEnergy went bust, Ofgem invited suppliers to bid for the customer base and Coop Energy came forward with what Ofgem deemed was an acceptable offer. From late Autumn last year, Ofgem introduced what is called a Consumer Levy to protect all customer credit balances. This is paid for by all energy suppliers.

It is worth pointing out that all GBEnergy customers who were transferred to the Coop were 'switched' on their GB tariff terms. Put simply, nothing changed for GBEnergy's customers. They didn't even have to complete another DD mandate.

In my view, if another supplier went bust today, Ofgem would probably have to adopt the same model so no question of putting you on to a bad deal. If that was the case, then switching out would be allowed without penalty.

A bit of hassle - yes, but energy consumers now have better supply, tariff cost and credit protection than is the case if your mobile or broadband provider goes bust.

I believe we should be concerned over an inflicted higher tariff if a supplier goes bust.. See copy of info from Ofgem below.
What happened with GB customers and the Coop may not necessarily be replicated.

Will my bills go up?

Your new supplier will put you onto a special ‘deemed’ contract (this means a contract you haven’t chosen). This contract will last for as long as you want it to.

Your bills may go up, as ‘deemed’ contracts can be more expensive. But Ofgem try to get the best possible deal for you, if you’re in this situation.

Why could 'deemed' contracts cost more?

‘Deemed’ contracts can be more expensive. The supplier takes on more risk, as customers are moved to a new supplier quickly without the usual background credit checks. So, they also charge more to make up for this extra risk.

phillw

Hengus wrote: »

In my view, if another supplier went bust today, Ofgem would probably have to adopt the same model so no question of putting you on to a bad deal.

If Iresa went under and no company was willing to match the tariff then someone would be appointed who is prepared to take all the customers on knowing that most will switch away.

Ofgem panicked, they've had a lot of time now to prepare what they'll do next time.

If I was switching from & to a tariff without exit fees then I'd switch for £10. I would switch to Iresa again as I haven't had any issues with them yet (although I'll hassle them over the gas bill accuracy when I leave)..

icharus

phillw wrote: »

If Iresa went under and no company was willing to match the tariff then someone would be appointed who is prepared to take all the customers on knowing that most will switch away.

Ofgem panicked, they've had a lot of time now to prepare what they'll do next time.

If I was switching from & to a tariff without exit fees then I'd switch for £10. I would switch to Iresa again as I haven't had any issues with them yet (although I'll hassle them over the gas bill accuracy when I leave)..

Have you read the very recent Trustpilot reviews on Iresa? The CEO allegedly got rid of 15 staff members about 3 days ago. This could be viewed in a positive light, ie getting rid of dead weight. Alternatively, this is obviously a small company so 15 staff must constitute a significant proportion of the overall workforce! Iresa customer service was already dire. What will it be like now, and how quickly can replacements be hired and trained?

Of course the reduction of 15 staff in one fell swoop could be indicative of an even bigger problem! http://static.moneysavingexpert.com/images/forum_smilies/speechless-smiley-040.gif

Despite the competitive tariffs I need a modicum of back office efficiency and this was just not there. I don't appreciate being sent an e-mail advising of the online availability of a belated bill, and being unable to view it because of denied access to their web site yet again.

There were too many negatives with this company, and matters appeared to be getting worse.

Whilst I want to support smaller energy companies, I do not care to support companies with this poor level of customer support.