Energy Comparison

Legacy_user

Hi All,

We’re looking to switch energy provider from E-On go Bulb. Based on MSE’s comparison we will save circa £254 per year. However, I notice that the unit rates for Bulb (variable rate) are higher than those for E-On (fixed). The rates are:

Unit Rate: 15.645p p/kwh (Bulb) - 13.398 (E-On)
Standing Charge: 20.445p per day (Bulb) - 16.422 per day (E-On)

Forgive me for any ignorance, but it immediately appears that the rates with E-On are in fact better and I will save money by staying?

Can someone help?!

FestiveJoy

Marshall66 wrote: »

Hi All,

We’re looking to switch energy provider from E-On go Bulb. Based on MSE’s comparison we will save circa £254 per year. However, I notice that the unit rates for Bulb (variable rate) are higher than those for E-On (fixed). The rates are:

Unit Rate: 15.645p p/kwh (Bulb) - 13.398 (E-On)
Standing Charge: 20.445p per day (Bulb) - 16.422 per day (E-On)

Forgive me for any ignorance, but it immediately appears that the rates with E-On are in fact better and I will save money by staying?

Can someone help?!

Don't worry about the unit rates, or the day rates, look at the annual cost of each tariff (based on your assumed consumption).
You can get that from any good comparison site

You'll also find lots of cheaper options than Bulb offer.
And ensure you pick a fixed tariff - MSE has been suggesting this for yonks.

This, and lots more really good advice on how to save on your energy costs is available in this MSE article - please read & digest.
https://www.moneysavingexpert.com/utilities/you-switch-gas-electricity/


:xmastree::xmastree::xmastree::xmassign:

victor2

Marshall66 wrote: »

Hi All,

We’re looking to switch energy provider from E-On go Bulb. Based on MSE’s comparison we will save circa £254 per year. However, I notice that the unit rates for Bulb (variable rate) are higher than those for E-On (fixed). The rates are:

Unit Rate: 15.645p p/kwh (Bulb) - 13.398 (E-On)
Standing Charge: 20.445p per day (Bulb) - 16.422 per day (E-On)

Forgive me for any ignorance, but it immediately appears that the rates with E-On are in fact better and I will save money by staying?

Can someone help?!

You are on a fixed rate with Eon, but that tariff is presumably ending soon, after which (if you do nothing) you will go onto Eon's standard variable rate, which will be higher than the quote for Bulb. Thus the comparison site shows you will make a "saving". They are using the OFGEM mandated calculation for savings, which is totally meaningless to somebody on a tariff that is ending during the next 12 months.

You are extremely unlikely to be able to save anything in the coming 12 months if you are on a fixed rate that is ending soon. Energy prices have increased while you have been on the fixed rate.
Ignore any supposed savings and just compare the predicted costs going ahead on the comparison site. Hopefully you put in your annual usage in kWh and will therefore be getting realistic figures, assuming your usage remains about the same for the next 12 months as the previous.


Edit:
You can instruct the Cheap Energy Club to use your current tariff (as if it won't end) for the comparison, by clicking the "Base your savings on this cost" box below the details of what you are currently paying. Then the "savings" will probably become negative.

System

Really useful input guys, thanks v. much. Turns out my best comparison based on my current tarrif (which is about to end) is £10 per year saved and that’s a fix with Yorkshire Energy.