Switching suppliers - actual savings?

Ben90

Hi there, I'm new to the forum

I've just ran a comparison using the Cheap Energy Club, I entered my current supplier, tariff and usage accurately using kwh from my most recent bill etc etc.

Up came a deal with another supplier that claims to save me up to £140/year. Great! I thought, especially considering I'm a low energy user currently spending circa £450/year, this represents a near 30% saving!

But when I noticed the unit rates weren't too dissimilar from my current supplier I decided to find out how much I would actually save, so I created a spreadsheet an used my usage over the last 12 months in kwh for both leccy and gas (which the new supplier would have based their quote on), the unit rates for both suppliers including standing charges x 365 and so on, and found that the cheaper deal was in fact only £30 cheaper, despite the energy firm boldly claiming i'd still save £140 compared to my current supplier!

Is there anything I've missed? I can't see where this mysterious saving is actually being made :huh:

Any help appreciated

AndyPK

comparison sites calculate savings by assuming you will do nothing, and therefore go onto the standard tariff for 11 months (or whatever).

well done for checking and calculating the actual figures


At the top of CEC are two boxes. with an orange bar at the bottom of one of them.

If you tick the left side one, WHAT YOU'RE CURRENTLY PAYING "All savings are based on this cost"

it should give you the figures you expect

Ben90

Hi Andy, thank you for your reply

I can't seem to find the boxes on the comparison list page.

However checking the CEC page has revealed that the unit rates CEC have assumed from my current tariff are much higher than the unit rates on my actual most recent bill, so this might explain the overinflated savings claim.

Waste of time for me. It's a shame CEC don't have a manual input for unit rates.

If nothing else I guess this serves as a warning for others to double check the unit rates comparison sites including CEC use for your current supplier.