Energy: Find the cheapest supplier & earn cashback

Wywth

misfire22 wrote: »

The comparison site fails to show the following:

*
Spread your payments out and save
Most of our customers choose to spread the cost of energy by setting up a monthly direct debit. And you'll receive a 6%≠ discount on your unit rates when you pay this way. *
If you take 6% (136.38) that takes the total to 2136.32 which is not bad for a fixed price tariff.

The price I quoted from the comparison site already includes the 6% discount on unit prices.

Note the 6% discount does not apply to the standing charges.

Wywth

misfire22 wrote: »

I have now done some more sums. It looks like Spark are definitely chaper however I dont know anything about them. The next cheapest seems to be M&S:

Electricity usage 9232 @ 11.72 = 1081.99
Standing Charge 17.59 x 365 = 64.20
Gas Usage 26917 @ 3.77 = 1014.77
Standing Charge @ 31.47 x 365 = 114.86

Total £2275.82
If you pay your energy bills by monthly Direct Debit our quarterly unit rates
*If you pay your energy bills by monthly Direct Debit our quarterly unit rates will be reduced by 6%*

=2275.82 x 6% = £136.55 total £2139.27
Current estimate = £2579.21 savings of 439.94

Plus bonus of M&S vouchers up to the value of £70!

Think this will be the tariff for me

Cheers

To clarify, the unit prices you have quoted here already include the 6% discount for paying monthly by DD (and the daily standing charges are correct as no discount is applicable) ... your error is then to discount the total amount by a further 6%

See the (non-discounted) unit prices here:
http://www.mandsenergy.com/Prelogin/assets/downloads/FixedPriceTablesWebV4.pdf

misfire22

Ah, my mistake.....this is soooooooo complicated!

I am looking for a fixed rate. Would the ones quoted by yourself be fixed?

Wywth

misfire22 wrote: »

Ah, my mistake.....this is soooooooo complicated!

I am looking for a fixed rate. Would the ones quoted by yourself be fixed?

The Ovo one is the lowest priced fixed rate deal (for 12 months)

misfire22

I have never heard of them?

Wywth

misfire22 wrote: »

I have never heard of them?

One of the smaller suppliers, but very good imo

Only disadvantages are that their CS lines are only open during normal office hours and that they don't like you being in debt, so might start you off with slightly higher DD's if you switch at this time of the year.

Advantages are, being small, they do care about their customers and they pay tax free interest of 3.15% p.a. (when VAT is taken into consideration) monthly on any accrued credit.

carpy

spark came out cheapest for me.....but having done a little research didn't like the sound of them much so avoided for the sake of a few £'s. went with Co-op who are there abouts on price and have excellent customer service by all accounts.

tonyhamm

I am based in the NW. It varies region to region.
For capped, fixed rates
With OVO I get £659, with First Utility v6 Fixed to 2014 Apr I get £654 - £40 cashback = £615.
OVO Sums

---

Elec 12.83 x 2668 = £342.30
Standing Charges 23.02 x 365 = £84.02
Gas 3.65 x 4086 = £149.14
Standing Charges 23.02 x 365 = £84.02
Total
£659.49

First Utility v6 Fixed

---

Elec 12.832 x 2668 =£342.36
Gas 3.67 x 4086 =£149.96
Standing Charges
Elec 17.85 x 365 = £65.15
Gas 26.67 x 365 = £97.35
TOTAL = £654.81 minus £40 = £614.81 for year.

Wywth

tonyhamm wrote: »

I am based in the NW. It varies region to region. ...

No one was suggesting there is a cheapest supplier or tariff. If there were one, we wouldn't need the long article or comparison sites - Martin could just tell us all which supplier & tariff to all go on

It varies individually by region and consumption.

I suggest you follow the advice in the article and consult a comparison site.
According to EHL, the difference is much less than you have calculated

FU is being shown as £637 pa for you against Ovo £641p.a. (just £4 difference)

Possible cashbacks are not included in these figures, again in line with Martin's recommendations, but you could get possible cashback with either supplier

EHL also indicates that you could be on variable rate tariffs for a total of just £558 p.a (gas with nPower, electric with the Co-op)
That would be an approx 15% increase for you to get a fixed deal. You need to decide if it's really worth it for such a large premium. This year, the highest prices rises by any supplier were only about 10%

tonyhamm

Well I have been via quidco to the First Utility Site, and selected the
iSave Fixed v6 April 2014

and ran the numbers to give £655. They include VAT. With £40 cashback from Quidco thats £615 for the year. I could of course get it for under £600 if I go for variable. I think the cheapest with First Utility was £638 - £40 = £598. The cheapest variable on the market via comparison sites was from 2 suppliers with £30 cashback giving a total of £575 for my use, but any %age rise will wipe that out in a year.

Thats a lot better than staying with my current supplier - nPower. After the Go Fix 8 plan finishes, on 4 Jan they will put me on Go Save S. This works out to be £665, £50 greater than the Quidco - First Utility Deal per year, and uncapped!

GO SAVE S
Elec 15.31 x 2668 = £408.47
Standing Charges 9.4 x 365 = £34.31
Gas 3.754 x 4086 = £153.39
Standing Charges 40.4 x 365 = £147.46
TOTAL £743.63
Discounts
dual fuel -£100.00
gas -£5.00
elec -£5.00
vouchers £0.00
TOTAL £633.63
VAT @ 5% £31.68 = YR TOTAL £665.31