Energy: Find the cheapest supplier & earn cashback

boobbby

Lets take an example your annual utilities bill is £480.
You pay £40 per month .. at the end off the year you recieve a £40 rebate and no surplus overpayments
you pay £100 into a monthly savings account and receive about £30 In interest (if your lucky) so at the end of the year you have £1270 to spend
You pay 140 per month ..at the end of the year you receive a £140 rebate (140x12-480) and a £1200 surplus so at the end of he year you have 1340 to spend (£70 profit)

I-LOV-MONEY

Sorry - clear as .. !

Where is £40 rebate coming from ?

If you pay £100 into a savings account and receive a notional £30 interest, you have £1230 ???

Again you refer to £140 rebate. Are you saying you get a rebate equivalent to one monthly payment, so in effect you are paying for 11 months ?

boobbby

I-LOV-MONEY wrote: »

Sorry - clear as .. !

Where is £40 rebate coming from ?

If you pay £100 into a savings account and receive a notional £30 interest, you have £1230 ???

Again you refer to £140 rebate. Are you saying you get a rebate equivalent to one monthly payment, so in effect you are paying for 11 months ?

Yes! with Atlantic they return one months payment each year..

100 x 12months = 1200 + 30 should work out at £1230

dycebabe

I have just switched to E on (they are taking my first D/D on 1st Feb) and am tied into a 2 yr deal. I feel cheated though as they said that I would save with them (thats the reason I changed) and now I find out that they are increasing their rates on 4th Feb (9% electricity and 3% gas. I feel that they should have told me that their prices were increasing in feb, I now feel cheated. What can I do?

Stompa

boobbby wrote: »

Lets take an example your annual utilities bill is £480.
You pay £40 per month .. at the end off the year you recieve a £40 rebate and no surplus overpayments
you pay £100 into a monthly savings account and receive about £30 In interest (if your lucky) so at the end of the year you have £1270 to spend
You pay 140 per month ..at the end of the year you receive a £140 rebate (140x12-480) and a £1200 surplus so at the end of he year you have 1340 to spend (£70 profit)

Thanks, got it. An interesting idea, hard to believe they're going to allow you to overpay by much though, since I'm sure they've 'got it' too!

stolt

hi thought i would finally switch gas electriciy, with e.on and ive had a letter today to say more prices are are going up from the 10th of january, the bit that really stuck in my throat was that if i want to move, i have to give them 20 days noticed, whereas they can increase prces just like that!

ive just been on energyhelpline and its showing if i switch i can save £178 a year but there are penalty payments if i them move from that supplier, who's to say they wont increase there prices in a week and i cant move because they have penalties, surely if they are charging these penalties then the costs stay the same throughout that period. can anyone clarify that?

this is the blurb from the website ''Customers on EDF Energy's Online S@ver v8 tariff will receive a minimum 2% discount on their Standard tariff prices until 31st March 2012. There is a £60 cancellation fee for this tariff if customers switch away before the end date. ''

Premier_2

stolt wrote: »

hi thought i would finally switch gas electriciy, with e.on and ive had a letter today to say more prices are are going up from the 10th of january, the bit that really stuck in my throat was that if i want to move, i have to give them 20 days noticed, whereas they can increase prces just like that!

Suppliers have 65 working days (3 months) to advise of any change in tariff. You have the option to reject such change ... but you'll then have to get a new supplier

stolt wrote: »

ive just been on energyhelpline and its showing if i switch i can save £178 a year but there are penalty payments if i them move from that supplier, who's to say they wont increase there prices in a week and i cant move because they have penalties, surely if they are charging these penalties then the costs stay the same throughout that period. can anyone clarify that?

this is the blurb from the website ''Customers on EDF Energy's Online S@ver v8 tariff will receive a minimum 2% discount on their Standard tariff prices until 31st March 2012. There is a £60 cancellation fee for this tariff if customers switch away before the end date. ''

You are guaranteed a 2% discount compared to their standard tariff. If the standard tariff changes, then so may that one ... providing it remains at least 2% less.
For that discount, they want to tie you in ... or charge for an early exit.

stolt

Premier wrote: »

Suppliers have 65 working days (3 months) to advise of any change in tariff. You have the option to reject such change ... but you'll then have to get a new supplier


You are guaranteed a 2% discount compared to their standard tariff. If the standard tariff changes, then so may that one ... providing it remains at least 2% less.
For that discount, they want to tie you in ... or charge for an early exit.

thanks, does that mean if i reject the increased charges, hen the new charges will take 65 days to take affect or until i move supplier. think i will move then. cant see anyone being cheaper just hope EDF when they increase wont be 2% over EONS then i should still be ok.


thanks again

hillyh

Hi all readers

I have recently bought a house (my 1st ever) and now need to find gas and electricity supplies i have been on most sites and seen the ITS TIME TO SWITCH notice up on this site (I am a fan of Martin) but I am struggling as ive no idea of what my usage will be or even where to start to save im concerned as prices are jumping through the roof at this time. so is there any 1 that can at least give me some advice ???

many thanks

Premier_2

stolt wrote: »

thanks, does that mean if i reject the increased charges, hen the new charges will take 65 days to take affect or until i move supplier. think i will move then. cant see anyone being cheaper just hope EDF when they increase wont be 2% over EONS then i should still be ok.


thanks again

No, if you reject the changes you won't be charged the increased rates at all
(as long as you meet the terms, like changings supplier promptly)