Switching help

bri160356

macman wrote: »

I don't know what you are comparing Bulb to, but they only offer one tariff, which is a variable one. The vast majority of us on here are looking for 12 or 18m fixes. Are you sure your parents want a variable tariff? Prices are currently rising fast.

Absolutely, macman;

people have different reasons for choosing certain tariffs that aren’t always based solely on £££’s (renewable energy, charitable donations, Big6 et al) but choosing a cheap’ish variable tariff at the moment is not a prudent move, IMHO.

As you say macman, prices are on the up at the moment and you may save a few quid in the next few months by opting for a variable tariff but who knows how much that variable tariff will be when it’s increased in a few weeks/months time;...and in the meantime the ‘fixed’ tariffs will also be rising,...rapidly! :eek:

For example, Avro Energy are on their 4th fixed tariff in the last few weeks alone. Each tariff more expensive than the last.

It’s far more prudent to get yourself a decent fixed tariff deal with zero exit fees, sooner rather than later;...at least you know where you stand for the next 12/18 months with the added bonus that you can ditch the tariff any time, if you wish.

But hey, that’s just my personal observation;...everyone has their own opinions,... and as the old saying goes “you pays yer money and you takes yer choice”.

Richie7

Thank you both for your replies.


I still remain perplexed by people's thinking though.


I had a look and the options for fixed tariff's with no exit fees were not very appealing. I realise that that might be the preference for some, but why would you not go for the cheapest option at the moment, with the ability to exit at no cost "should" things not work out? I can always leave Bulb come November if the proposed price hike is too much, but if it isn't, then it's surely the most prudent move. To pay for as cheap electricity at this time, rather than worry about the future. My parents (God forbid) could be dead in 12 months. As could any of us.

bri160356

Skools_Out wrote: »

Surely it requires exactly the same information as Energylinx requires, as it's just a restricted version of the Energylinx site? :huh:

https://forums.moneysavingexpert.com/discussion/5826915/price-comparison-sites

Richie7 - Don't forget possible cashback - you won't get that from the Citizens Advice link.

Check out this link for more options as recommeded by MSE
https://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

Whatever you do, ensure you use an Ofgem accredited comparison site. The full list is available in the thread I linked to above

What's your supply region (or fisrt part of your postcode)?
What's your anticipated annual consumption of each fuel in kWh? Whats the split for E7?
I'm sure we can find you a better deal than Bulb.

Remember Bulb has indicated their prices will be going up again in November - something that is not currently reflected in comparison sites.

You are absolutely right to say that the Citizens Advice site is ostensibly the same as Energylinx comparison site when comparing the ‘whole of market’. The layout is very similar.

Notwithstanding the ‘goodies’ that Energylinx may be offering it’s worth pointing out that in the ‘Savings’ column Energylinx will always show a very eye-catching ‘saving’ because they compare your existing tariff with your incumbent suppliers ‘Standard’ tariff. To be fair, most comparison sites do exactly the same.

However, the Citizens advice site shows you how much extra you will actually pay compared to your existing tariff. They do not reference your incumbent suppliers ‘Standard’ tariff whatsoever.

If I enter my own usage figures into Energylinx the cheapest ‘whole of market’ quote is Eversmart-12 months fixed zero fees, and the savings column says this: ”You will save £210.77 per year” :j

If I enter my own usage figures into Citizens Advice the cheapest ‘whole of market‘ quote is the exact same Eversmart tariff but the ‘savings’ column says this: “you will pay extra £42.93 per year”.

I do feel that Citizens Advice is more informative in this respect as it gives customers a realistic figure of how much extra they’re likely to pay in the next 12 months or so;...it makes monthly cost planning a little easier, which is important for many people.

The ‘savings’ column on most comparison sites, including Energylinx, is little more than ‘clickbait’,...IMHO of course.

But hey, they’ve got to make money somehow.

Richie7

bri160356 wrote: »

You are absolutely right to say that the Citizens Advice site is ostensibly the same as Energylinx comparison site when comparing the ‘whole of market’. The layout is very similar.

Notwithstanding the ‘goodies’ that Energylinx may be offering it’s worth pointing out that in the ‘Savings’ column Energylinx will always show a very eye-catching ‘saving’ because they compare your existing tariff with your incumbent suppliers ‘Standard’ tariff. To be fair, most comparison sites do exactly the same.

However, the Citizens advice site shows you how much extra you will actually pay compared to your existing tariff. They do not reference your incumbent suppliers ‘Standard’ tariff whatsoever.

If I enter my own usage figures into Energylinx the cheapest ‘whole of market’ quote is Eversmart-12 months fixed zero fees, and the savings column says this: ”You will save £210.77 per year” :j

If I enter my own usage figures into Citizens Advice the cheapest ‘whole of market‘ quote is the exact same Eversmart tariff but the ‘savings’ column says this: “you will pay extra £42.93 per year”.

I do feel that Citizens Advice is more informative in this respect as it gives customers a realistic figure of how much extra they’re likely to pay in the next 12 months or so;...it makes monthly cost planning a little easier, which is important for many people.

The ‘savings’ column on most comparison sites, including Energylinx, is little more than ‘clickbait’,...IMHO of course.

But hey, they’ve got to make money somehow.

Thanks Bri, that's by far the most helpful advice I've had so far. Something I wasn't immediately aware of.


Having a read through some of the threads on here, there appears to be a lot of contradictory advice on offer, and I'm not sure anyone really knows exactly what the best thing to advise is when it comes to energy. It's clearly a massive grey area.


I'm going to go with my gut I think, and what is the best on offer right now. I don't feel there's too much relevance in thinking too far ahead. Not the way this industry is right now.

Skools_Out

What you want to know is what next year will cost.

All comparison sites 'should' come up with the same annual cost, but I can assure you that Energylinx will show the same cost as Citizens Advice as it's the same website using the same source data.

Don't bother looking at savings. There's lots of arguments both ways over that, but the default method Energylinx uses is that mandated by Ofgem ... but you can see the savings figure Citizens Advice show if you really want to compare cost/saving next year compared to what you paid last year. e.g. don't fill in any contractt end dates.
You will know if a contract end date, and so a split tariff is used in the saving calculation as the detail clearly states it is a complex and you are then required to click to a further screen to see all the details used to make the saving calculation.

What Ofgem mandates is the cost/saving of you doing nothing (as the price you paid last year is history, and won't be available for the next year.)
So that is why all the ofgem accredited comparison sites use it.

bri160356

Richie7 wrote: »

Thanks Bri, that's by far the most helpful advice I've had so far. Something I wasn't immediately aware of.


Having a read through some of the threads on here, there appears to be a lot of contradictory advice on offer, and I'm not sure anyone really knows exactly what the best thing to advise is when it comes to energy. It's clearly a massive grey area.


I'm going to go with my gut I think, and what is the best on offer right now. I don't feel there's too much relevance in thinking too far ahead. Not the way this industry is right now.

Wrong or right is very subjective when it comes to choosing a new energy tariff.

There are differing levels of opinion on here but many people (including me) would argue that, in the current economic climate, it’s more prudent to take a 12 months ‘fixed tariff’ with zero exit fees as soon as possible, rather than opt for a slightly cheaper variable tariff of indeterminate length.

However, that’s just my personal opinion,...and in the words of Johnny Rotten “I could be wrong,...I could be right”

macman

With a fix, your parents are buying peace of mind: they know that the price they pay today will be the same for 12 or 18m. With variable, the price can increase at any time (and they currently are doing just that). Do you really want to be switching them every few months?
It's all about risk perception. In the words of Clint Eastwood: 'Do I feel lucky? Well, do ya punk?'

Richie7

Well I've just ran another comparison on the Citizens Advice page.


Granted Bulb don't come out the cheapest, but the ones that do have no ratings at all, and I've never heard of them. There's just no way I'd be willing to take a chance on one of them. Given the problems I've had in the past with Energy Companies. There looks to be some quite decent deals with the Big 6, but just not quite good enough to tempt me.


Whilst I appreciate everyone's help and advice, I think I'm going to push forward with Bulb. The incentive to sign up, the renewable energy, and the ability to just exit with no hassle (hopefully!!) is too appealing right now. And if things get too expensive by the New Year again, I'll look for a fixed rate deal with someone else. But I'm hoping my calculations are correct when I say that even with Bulb's potential price rises to come, it'll still work out cheaper for my parents- at least in the short term.

AndyPK

Personally it's nice to be on a fix over the winter period.
Leave the thermostat cranked up then!

Exit fees of £35 or whatever is nothing in the scheme of things compared with the savings and rare for ppl to exit

Richie7

AndyPK wrote: »

Personally it's nice to be on a fix over the winter period.
Leave the thermostat cranked up then!

Exit fees of £35 or whatever is nothing in the scheme of things compared with the savings and rare for ppl to exit

Personally I don't see it that way, but it's horses for courses when it comes to energy. As I've learned over the last few days. I find no-one really has the perfect advice, it's certainly all about preference. Reading elsewhere, not just on here, it's pretty much the same story.

And again on a personal level, to quote Thanos, taking business away from the big 6 puts a smile on my face!! After recent experiences with some of them, and Scottish Power most recent of all, they're an absolute disgrace and deserve no business at all!


Anyhow, I won't go further into that. I will just thank everyone for their advice over the last few days.