whch figure to use????

mhoc

I am trying to do a comparison to get a quote for switching.

On the companies website it just asks for postcode and number of bedrooms - for this I get a figure of £61

It then gives me the option of a detailed quote.

If I put in the total amount of money I've spend on energy over the last year with my current supplier it gives me £71.

But if I instead put in the exact amount of kw I've used then I get £105

So which figure do I go by - I am very confused - I am just electric on economy 7. I take my readings regularly so I know what is really a good figure to cover our needs and £105 is too much

Neil_Jones

Use the kWh figures (in your case one for day and the other for night). More accurate. The figure you're paying by direct debit is arbitrary.

matelodave

The most accurate figure is the one using the exact number of kwh that you've used. Anything else is a guess and is probably an underestimate so you'll end up not paying enough and having a ginormous bill at the end of your fix.

The only way to reduce your bill is by reducing your consumption. If you've got records of previous consumption then you should be able to compare how many kwh you used every month to what you are presently using and see where and how you can economise.

mhoc

Thanks for this, the fog is clearing now.

I have compared the actual rates for day, night and the standing charge figure and they are all lower with the company I am comparing with so in theory the kw figure should come in lower.

Scottish power have just put my direct debit up to £98 even though I am slightly in credit - the other company want £105

Cutting actual usage is not going to be easy but possibly we need to be looking at this from all angles now -

matelodave

If you are "slightly" in credit now at the end of summer and you've got winter to come you'll likely be quite a bit in arrears come the end of March so that's why they upped your DD to save you having a big bill.

If you are at the end of a fix then you should be just about balanced out but they'll anticipate that you'll go onto their SVP and will try to avoid you going into arrears over the winter.

If you've kept previous meter readings you should be able to do your own sums based on your consumption to work out how much your DD should be - it's not difficult and you'll be able to see how your consumption profile matches your DD to check when you'll break even again.

Dont forget that all supplier's energy prices have risen this year so it's unlikely that you'll be paying less per kwh on a new fix.

macman

The only figure that matters is the total annual cost-not the arbitrary monthly DD level.

footyguy

mhoc wrote: »

I am trying to do a comparison to get a quote for switching.

On the companies website it just asks for postcode and number of bedrooms - for this I get a figure of £61

It then gives me the option of a detailed quote.

If I put in the total amount of money I've spend on energy over the last year with my current supplier it gives me £71.

But if I instead put in the exact amount of kw I've used then I get £105

So which figure do I go by - I am very confused - I am just electric on economy 7. I take my readings regularly so I know what is really a good figure to cover our needs and £105 is too much

How do comparison sites work?

The cheapest supplier for you is calculated by a complicated algorithm. It depends on where you live, how much energy you use, and the type of energy you use. Web and phone-based comparison services do this for you.



Just plug in your address and usage (use the kilowatt hours on the bill rather than the cost to improve accuracy) and they tell you which supplier is cheapest. If you don't have a bill or have just moved in, most comparison services can still estimate for you.

Source: http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity
(my highlighting in red)

footyguy

mhoc wrote: »

Thanks for this, the fog is clearing now.

I have compared the actual rates for day, night and the standing charge figure and they are all lower with the company I am comparing with so in theory the kw figure should come in lower.

Scottish power have just put my direct debit up to £98 even though I am slightly in credit - the other company want £105

Cutting actual usage is not going to be easy but possibly we need to be looking at this from all angles now -

Yes, you need to look at the entire tariff make up, including discounts, additions, etc.

Or a comparison site will do all the work for you...


Follow the advice in the link I provided above,