Thoroughly Confused about unit pricing Help please

Susan1942

Apology for asking this question. I should be able to work it out for myself.
I am about to switch my electricity. I have got Economy 7 and about 75% of my heating is at night. I don't have a fire in my home but do have a fan boost on one of the heaters which I seldom need to use. In total I have 5 storage heaters. I live in an over 55 property and gas is not an option.
I am looking at figures and finding a couple who come out cheapest on comparison sites but they are quoting only a price for all use. I can't see that this would work for me although how much it would cost for a full year is the best price showing.
Others have got a very high price for the first 350 units and then it drops to a lower price. I don't think this would work for me either.
I have used 1860 day units and 9600 night in the past 12 months.
I am wondering if I should just consider the price they predict for the next 12 months?
What is confusing me further as there seems to be a wealth of companies I have never heard of and am a bit scared to go down that route.
The previous 2 years I have been with Flow Energy which at the time I knew nothing about. I have had no problems in that time but their cost for the next year is about £280 more than the cheapest deals
I did owe Flow money but I have paid £260 40 so my account is now cleared.
Any advice would be appreciated Thank you all . Sue .

Robin9

Susan1942 wrote: »

I have used 1860 day units and 9600 night in the past 12 months.
I am wondering if I should just consider the price they predict for the next 12 months?

Correct the comparison sites have done all the work for you and you have good historic info for them to go on. Ignore what the the savings are - you only need to know what you are going to pay (assuming your lifetstyle or the weather does not change) Don't forget the DD is a good guess and not cast in stone.

Yes lots of new names - but if they go bust your supply is not going to be affected and someone will have to take them over.

Raxiel

Price comparison sites should ask you if you have a single rate or dual rate (E7) meter, make sure you've got that set correctly. For entering figures for last years consumption, some want two numbers, others (Like the cheap energy club) want a total and a percentage. With those set, they should show you the E7 tariffs.


I think the tariffs with the high up-front price are in lieu of a standing charge. As long as you'll use the minimum you can compare to a standing charge tariff by considering the whole usage at the lower rate, then just add 350x the unit rate difference as a flat amount, just like a standing charge.

Susan1942

Thanks for your prompt responses. I am scared by the number of new companies out there too. I recall last year looking at bulb but as the cost with Flow was less than £50 more I stayed with Flow.
I have been looking at comparisons and see that Bulb has increased its price I think twice recently. There was a comment on the MSE forum.
I need to make a decision soon as my current fix ends on 30th September.
Sue .

wavelets

Susan1942 wrote: »

Thanks for your prompt responses. I am scared by the number of new companies out there too. I recall last year looking at bulb but as the cost with Flow was less than £50 more I stayed with Flow.
I have been looking at comparisons and see that Bulb has increased its price I think twice recently. There was a comment on the MSE forum.
I need to make a decision soon as my current fix ends on 30th September.
Sue .

I don't understand why you are scared. You admit you were with one of the 'new companies' for the past 2 years.

But if you are that uncomfortable, and are prepared to pay more for your own self assurance, then sites such as the MSE Cheap Energy Club will allow you to filter results to just the 'Big 6'

Personally, I suggest you don't do that, but start at the top of the full list and choose the first supplier down that list you feel you would be confident with (which may or may not be one of the 'Big 6').
You'll also quickly be able to see how much more you will be paying for that personal peace of mind

This, one of the many questions on the CEC FAQ page:

I've never heard of this supplier - Is it safe to switch?

Some of the cheapest tariffs on the market are now with smaller suppliers. Rules from regulator Ofgem mean there’s little risk in switching to a smaller supplier. If it goes bust, your credit is protected and your energy stays on - you’ll simply be transferred to another supplier, though you may need to find a new cheap tariff.


If a supplier is new, we may not have much feedback on it. However, we do have feedback links to our forum for every provider listed, so you can hear other users’ experiences.

https://clubs.moneysavingexpert.com/cheapenergyclub/faq

Susan1942

You are right of course. E On seems to be the first name that is coming up that I am familiar with. It is a bit more expensive than some of the others but cheaper than staying with my current provider. I will have another look and make a decision. Thanks again Sue

Smodlet

If you qualify for the Warm Home Discount, you can filter that in or out as well (while it lasts) It is down in the right hand column of options. HTH.

Susan1942

I think that this is means tested? I would not qualify for it in that case. Thanks for the info in any case. Sue

Susan1942

I have now switched my electricity to Octopus having read positive reviews. Thanks for all your advice and support. Sue