Energy: Find the cheapest supplier & earn cashback

Consumerist

creddish wrote: »

Another factor to consider is the coalitions proposal to limit the number of tariffs the energy companies are allowed to offer. I understand that this is still to be implemented around the end of this year. How will this affect the availability if any of Fixed price deals?

Energy suppliers will be limited to 4 core tariffs which can be fixed or variable. Accordingly, it will limit the number (availability) of both types of tariff; the object being to reduce the complexity of comparing tariffs.

Forcing the companies to automatically put consumers on their minimum tariff would potentially eliminate fixed rates completely as the as they invariably more expensive at the start of the contract but cheaper over the full term.

Energy suppliers will be required only to advise customers of their cheapest tariff; they will not be forced to switch customers to those tariffs.

How will the regulations affect existing contracts.

My understanding is that existing contracts will be allowed to run their course.

I suspect the end result of this policy would be to the dis-advantage of active users who currently search for the best deals and are prepared to switch when necessary.

I suspect you're right.

Jon_01

Does anyone have a suggestion here.

My mate is long term ill and may never get back to work due to multiple heath issues.
He's living on about £600 a month in benefits (with his wife in a PT job).
Whenever the gas or electric bill shows up he has to call them and pay half one month and half the next. As he's with BG and Eon and they're bills are 2 month apart it just works.
With the price rises coming he's very worried that he won't be able to pay in 2 months but have to go to 3, which means the two bills will overlap and he'll never get them paid off.
He's tried called his current suppliers, but each is saying pay by DD, but that won't wok as there's not enough money to go around and each is only bothered about getting their bill paid and nothing else (which I guess is their right).
He was thinking of switching to one supplier for both services, but doubts he'd be able to pay the monthly fee in one go...
I can't see way out...

Can anyone suggest a way forward?

Consumerist

Hi there. Sorry to hear about your mate's predicament.

He is clearly in financial difficulties and the energy suppliers do have a (theoretical) duty to be sympathetic. He should get advice from Citizens Advice or another free debt advice services as soon as possible.

I think he is not going to be alone this winter.

Edit
Try <Step Change> debt advice service. It's government backed and it's free.

jarr

Could I confirm something. I compared mine and Npower has come up cheapest locked until 2017. The price I was quoted is £1,520 a year. As they havent put their prices up, if I join TODAY will it remain at £1,520 or will it rise when they increase their price meaning it may be higher than what I'm paying now?

victor2

jarr wrote: »

Could I confirm something. I compared mine and Npower has come up cheapest locked until 2017. The price I was quoted is £1,520 a year. As they havent put their prices up, if I join TODAY will it remain at £1,520 or will it rise when they increase their price meaning it may be higher than what I'm paying now?

If you sign up for a fixed rate tariff today and they acknowledge that they have accepted it, then you have entered into a contract with them. If the rate is fixed for the duration of the contract, then it will remain at that rate. Doesn't of course mean it will cost you £1,520 a year, that will vary as your usage does, but at least the rate per kWh will remain fixed.

jarr

Do I need to inform my current provider or do I just switch and they will sort it?

jarr

OK I've just switched to Npower. It says it'll take a week or so to sort out. If Npower raise their price tomorrow for example does that mean my price will go up because I'm not with them yet?

Consumerist

jarr wrote: »

OK I've just switched to Npower. It says it'll take a week or so to sort out. If Npower raise their price tomorrow for example does that mean my price will go up because I'm not with them yet?

I would phone them and ask. There is normally a 7 - 14 day window within which you can cancel the switch.

bianchigirl

Hi,

I just switched via the Energy Helpline link as advised on MSE. The reason, £15 cashback for clicking through the link on the page and £10 per fuel, making £35 cashback for me.

However, on completing the online switch forms, Energy Helpline have only confirmed £15 cashback, less than is offered with the MSE Energy Club.

Any ideas, or does Martin need to check this?

Thanks

jarr

Thank you.