Energy: Find the cheapest supplier & earn cashback

50Twuncle

"Price HIKES are back, switch NOW to save £300+!"

At the moment - We pay Scottish Power £44 per month - duel fuel
If we save £300 - this will reduce our annual bill to £228 - can I quote you on the amount ??

HappyMJ

21Twinkle wrote: »

"Price HIKES are back, switch NOW to save £300+!"

Thanks for that but I don't think prices have gone up that much. I think the average so far has been 6% and they have all gone or will go up by around that amount. So for someone who has already switched the savings are minimal. I'd take a guess and say around £30+!! per year.

edit:just noticed your edit means that you quoted this from somewhere else and also taking the micky out of the quote.

pennyweyes

boobbby wrote: »

I am with Atlantic and pay a fixed sum each month. Every 12 months they return the payments for one month. Because I had built up a bit of credit on my last electric and gas bill they also agreed to return the surplus to my bank. I was thinking if I paid a larger amount each month I would then receive that payment back once a year and then also a larger surplus. Can anybody see a flaw in this idea !

The flaw as I see it is that you won't get any interest on your money. The surplus along with the 'one month's direct debit back' is really just a refund of money you've already paid them. Open a regular savings account and put the money you were thinking of paying over and above your monthly DD in that. Check the t&c's to make sure that you can close the account (or withdraw all the cash+interest at the end of the year) without penalty. Good luck!:beer:

foxyladyx

Hi back in begining of December I posted regarding my situation and thought I'd got it sorted!.

Live in private rented single walled 3 bed house which has damp and condensation mould etc. I have 2 childern and live on my own since splitting up with partner in Oct. I had cancer last year and finished intensive chemo and radiotherapy Feb 2010. I am unable to work at the moment due to cancer and therefore am on benefits until well enough to be able to try and start new career, prev midwife.

In Oct I when found out I was on Southern Electric standard tariff I went on the comparison websites and EDF on line saver 7 was showing as best option for me, £100 welcome plus £80 via TCB

I telephoned Southern Electric and asked they could help me. I was advised about their careline. Turns out need to be 10% of income on fuel I'm using 8% but I was entitled to their rebate scheme £50 off gas and £50 of Electric off bill in April. I asked if I could change from standard tariff to on line GO Direct 5 which was showing as better. Told NO:mad:

So I posted on here and a nice chap helped me work out that I would still be better off with EDF on line 7.

So telephoned SE back to ask again would they change my tariff to online NO. Told them I would be leaving them for another supplier.

Using TCB I put in for transferr to EDF on line saver 7 and thought great .... sorted.:j

16th Dec phoned and spoke to SE and actually spoke to someone who knew what they were doing!! She told me I had been miss informed and that I could have gone over to their on line with no probs and would have still been entitled to rebate!! (had bad experince with last swap BG to SE so reluctant to move if poss) I asked could I go over to it now as then snow, of course it had showing up moving so she said couldn't do anything about it but would report this to her manager, as I explained they had in effect left me on a high tariff by their mistake not mine during the coldest Dec on record for years!!.:eek: I asked if she could give me an estimate of usage up until today with meter readings I gave her.... from 20th Oct - 17th Dec Gas £200approx
Electric £ 120 approx!!!

20th telephoned SE and spoke to manager who couldn't believe why I had been left on high tariff and that now because of transferr would incurr massive final bill. He phoned me back and said he was also putting in complaint as he had received poor response too!:mad:

5th Jan Received letter from EDF welcoming me as new customer and for meter readings. EDF told me Electric went over today 5th Jan and gas already gone over in Dec?

Phone SE yes electric gone over but NO gas still with them due to go over 14th Jan. Nice chap then says that he is not happy with all the messing about some of his colleagues have put me through so says he wants to sort out the mess as I am worried how do I pay final bill and why are they not going to give me rebate that i'm entitled to! that that should still come off my bills!!

So SE have offered me to go directly onto their GO Direct 5 on line tariff and have rebate of £100 which means no final bill and I want to get them to bill as if on online tariff from October from orginal call asking to go over which will reduce bills I hope!! at mo I owe approx Electric £94 already paid DD for jan £55 Gas £200 already paid £48 DD. They will pay for charges from EDF for me to change back to them.

Price comparison sites are showing SE low down because their prices have gone up and therefore not accurate!

Please will some one work out if I am better to stay with EDF online saver 7 despite girl in their call center telling me that this tariff is no longer available but on it!??? and hope when they hike up their prices after March that I will be better off OR

Should I except SE offer and let them pay for charges and move back over to them on Go Direct 5 and be under their careline. I'm stuck with just these two companies so can't move to anyone else but don't know who will be best for me.

Gas KWH uasage for year 23193.729!!
Electric usaage for average 78 days since 19th Oct 5493

heating is combi boiler heating set at 20C if lower get mould and damp and can't afford to put up, sat here in thermals, body warmer etc

Hope this makes sense!! Just need to know which company I will be best with.

Thank you x Happy New Year by the way!!:A

dazza.mk

Eon have announced price rises from Feb:

http://www.bbc.co.uk/news/business-12161521

Stompa

pennyweyes wrote: »

The flaw as I see it is that you won't get any interest on your money. The surplus along with the 'one month's direct debit back' is really just a refund of money you've already paid them.

Indeed, since switching to Atlantic I've constantly owed them. They've never suggested that I need to increase my monthly payments, and until they do I'm perfectly happy to continue this way. Much better that the money is in my account (earning me interest) than in theirs.

Premier_2

pennyweyes wrote: »

The flaw as I see it is that you won't get any interest on your money. The surplus along with the 'one month's direct debit back' is really just a refund of money you've already paid them. Open a regular savings account and put the money you were thinking of paying over and above your monthly DD in that. Check the t&c's to make sure that you can close the account (or withdraw all the cash+interest at the end of the year) without penalty. Good luck!:beer:

Stompa wrote: »

Indeed, since switching to Atlantic I've constantly owed them. They've never suggested that I need to increase my monthly payments, and until they do I'm perfectly happy to continue this way. Much better that the money is in my account (earning me interest) than in theirs.

I think you have both failed to understand what boobby was really getting at.
It wasn't the overpayment, so that the overpayment could be returned at the end of the year, which as you say would be without interest. It was more to do with the rebate of 1 month's average payment.

Hence why I suggested the poster ask to pay £1000 p.m. - that, if agreed, should pay for perhaps the whole annual cost of gas & electricity (if not a high user). That's equivilent to an annual interest rate of about 15% at a guess - much more than you'll typically get in a savings account.

boobbby

Premier wrote: »

I think you have both failed to understand what boobby was really getting at.
It wasn't the overpayment, so that the overpayment could be returned at the end of the year, which as you say would be without interest. It was more to do with the rebate of 1 month's average payment.

Hence why I suggested the poster ask to pay £1000 p.m. - that, if agreed, should pay for perhaps the whole annual cost of gas & electricity (if not a high user). That's equivilent to an annual interest rate of about 15% at a guess - much more than you'll typically get in a savings account.

You have the idea..as an example if I paid £250 a month into a regular saver @ 5% that produces Approx £75 in interest. With Atlantic I would receive the £250 once a year plus the surplus over paid. This is what is happening at the moment although I only pay £140 per month and was considering asking to increase my monthly payments. My friend actually uses his surplus as a savings account to fund Christmas.

I-LOV-MONEY

Premier wrote: »

Hence why I suggested the poster ask to pay £1000 p.m. - that, if agreed, should pay for perhaps the whole annual cost of gas & electricity (if not a high user). That's equivilent to an annual interest rate of about 15% at a guess - much more than you'll typically get in a savings account.

Trying to get my head around this !

You overpay and they don't pay interest but just refund the overpayment where is 15% coming from ?

Stompa

I-LOV-MONEY wrote: »

Trying to get my head around this !

You overpay and they don't pay interest but just refund the overpayment where is 15% coming from ?

I'm equally puzzled!