Martin is not accurate enough!

aerodrum

When advising the Nation about switching, one BIG fact is always missing from ML's advice and that is: As you come towards the end of your fixed year (the last 49 days) get your current supplier to email to you your NEXT FIXED TARIFF's price they would be putting you on and then make the comparison against the rest of the market. A lot of comparison sites either compare your CURRENT tariff or the SV tariff you would be going onto. That is not accurate enough. I have just switched 49 days before expiry (therefore no penalty payable), from OVO to Breeze. Compare prices and see what I mean. Martin, are you hearing me?

System

aerodrum wrote: »

When advising the Nation about switching, one BIG fact is always missing from ML's advice and that is: As you come towards the end of your fixed year (the last 49 days) get your current supplier to email to you your NEXT FIXED TARIFF's price they would be putting you on and then make the comparison against the rest of the market. A lot of comparison sites either compare your CURRENT tariff or the SV tariff you would be going onto. That is not accurate enough. I have just switched 49 days before expiry (therefore no penalty payable), from OVO to Breeze. Compare prices and see what I mean. Martin, are you hearing me?

Welcome to the forum. MSE CEC is only quoting the methodology prescribed by Ofgem. At the moment - but things are in the process of changing - suppliers are not allowed to move you to another fixed contract without your approval; hence, the next 12 months cost has to be based on 2 knowns: months left on present tariff plus 12- months left on SVT.

MSE CEC also shows a simple cost for 12 months on present tariff compared to costs for 12 months on these tariffs.

Note: the Ofgem methodology is only flawed for consumers on fixed contracts with less than 12 months to run.

bonus2010

I thought Martin Lewis did a good explanation on Ofgem’s regulated projection method of providing the wrong answer in this video.

Since watching this I don’t pay any attention to comparison site's estimated savings and instead rely on my own calculations.

https://www.youtube.com/watch?v=mm3IjUWgDTs

aerodrum

Precisely my point bonus2010.