What is going on with comparisons?

carh

OK....Martin!:j I need advice. I follow your rules and view comparison sites and get lots of "You can save £336 on fuel" emails.:rotfl: And this is WITH my usage details being logged into the sites. However, I actually followed 2 links through U switch telling me I could save over £300 in two cases, yet when I sat and methodically worked out the annual use multiplied by the unit cost plus the standing charges., my current supplier was about £150 cheaper on my current tariff. If I had followed the savings banner, I could have come out worse :(So how many people get fooled by the "You Can Save" banner yet end up paying more.? This is still as confusing as ever and you cannot believe what these comparison sites tell you. Yet, you do say about how much people can save but I think it is only IF they haven't changed suppliers in about 10 years!. I think people need to be warned to do the painstaking maths before committing to another supplier

JJ_Egan

Comparison for LPG ??

molerat

carh wrote: »

OK....Martin!:j I need advice. I follow your rules and view comparison sites and get lots of "You can save £336 on fuel" emails.:rotfl: And this is WITH my usage details being logged into the sites. However, I actually followed 2 links through U switch telling me I could save over £300 in two cases, yet when I sat and methodically worked out the annual use multiplied by the unit cost plus the standing charges., my current supplier was about £150 cheaper on my current tariff. If I had followed the savings banner, I could have come out worse :(So how many people get fooled by the "You Can Save" banner yet end up paying more.? This is still as confusing as ever and you cannot believe what these comparison sites tell you. Yet, you do say about how much people can save but I think it is only IF they haven't changed suppliers in about 10 years!. I think people need to be warned to do the painstaking maths before committing to another supplier

It is the OFGEM preferred method of calculating savings. All you need to do is have the "based on this cost" box under current tariff selected

carh

Sorry, I don't really understand what you mean?

matelodave

The OFGEM rules state that comparisons have to be made assuming that you'll be moving onto your suppliers Standard Variable Tariff at the end of your fix, so if you've only got a month or two to go then the comparison will be based on a month or two of your existing rate plus 10 or 11 months on the SVT.

You have to check how the comparison is being carried out - the CEC has the option of selecting a comparison based on your current rate or the OFGEM calculation - you need to check.

It's always a good idea to do your own sums just to check how much you'll be paying rather than just relying on the comparison site calculation of what you might be saving.

Krapsite

Have your own spreadsheet with the usage set up and just leave boxes to input teh rates and the standing charge. you need a discount column too .I do this every time I get the you can save £xxx message which often is rubbish. You have to look after your self in this world. It is a sad place and everyone is out to shaft you especially OFGEM who are paid for by the fuel companies.