Energy: Find the cheapest supplier & earn cashback

footyguy

Consumerist wrote: »

Interesting.

Where did that info come from?

Suppliers can only stop a customer switching supplier (of the grounds of a debt) if there is an existing debt on the account.

A debt is only a debt if it has been formally demanded and remains unpaid after 28 days.

Consumerist

footyguy wrote: »

Suppliers can only stop a customer switching supplier (of the grounds of a debt) if there is an existing debt on the account. A debt is only a debt if it has been formally demanded and remains unpaid after 28 days.

Ok. For the record it's from the suppliers' Standard Licence Conditions 14.4

It's a sad day that passes without learning something.

ajitdattani

Hi My contract with Ovo runs out in June 2014.There are exit fees to pay if I change suppliers now.My total bills over the year comes to approx £2200.
Can someone please advise if it would be worth moving and fixing the price now while they have not gone up yet on some fixed tarriffs although ! would have to pay the exit fees or it might be worth waiting untill May2014 before I should look at moving?

victor2

ajitdattani wrote: »

Hi My contract with Ovo runs out in June 2014.There are exit fees to pay if I change suppliers now.My total bills over the year comes to approx £2200.
Can someone please advise if it would be worth moving and fixing the price now while they have not gone up yet on some fixed tarriffs although ! would have to pay the exit fees or it might be worth waiting untill May2014 before I should look at moving?

If you're on a fixed tariff with Ovo then you'll get a full winter at the rates you are locked in to if you don't leave.
Use a comparison site with your annual kWh usage to see how currently available tariffs look. Compare the costs shown for available tariffs with your current one plus the exit fees. Then take a guess at what the fixed tariffs will be next June - add 10% to the current offers perhaps? - and see how that compares to the extra you would pay this winter on a new tariff plus your exit fee. Remember winter usage is always significantly higher than summer usage.
I'm in a similar position and have concluded I will wait and benefit from another winter at presently unbeatable rates (and I don't have an exit penalty). After all, that is why I chose a fixed tariff in the first place.
Just my opinion of course.

Beate

I am on the EDF Blue +Price Promise April 2014 (no exit fee). It seems the cheapest deal as they never send me letters about better deals (which is their Price Promise) and the MSE Cheap Energy Club seems to agree.

I want to stay with them anyway so the only options at the moment to switch would be the March 2015 or the March 2017 tariffs. According to the Cheap Energy Club, the March 2015 tariff would cost me £100 a year more and the March 2017 tariff £238 a year more. I would of course have to verify that with EDF direct but have just given up after being in their phone queue for 30 minutes.

However, does it even make sense to switch in my case? The March 2015 tariff means fixing for 18 months ergo paying roughly £150 more in that time. That's roughly £50 more until the end of my current tariff from which obviously I was hoping to make the savings as EDF will inevitably raise prices till then.

But my annual energy statement estimates my costs at £880.74 for the next year while on another page they estimate I'll use £977.15 by the end of my annual billing period, whenever that is.
Either way, with an estimated 10% rise in energy costs, won't I only break even or actually pay a little more than the £100 for that year I'd have to pay on the March 2015 one (not even thinking about the March 2017 one, that seems way excessive). Or should I put 10% on top of those estimates too to figure out the real cost? Even then the savings seem to be minimal, or am I missing something?

Any thoughts please?

ikr2

2010 wrote: »

You`re in a better position than me because my SP fix doesn`t end `til March 14.
Whatever you pay now, add 10% and see how that works out compared to the new tariff, because that`s the likely amount SP will put up prices shortly.
If I were you to get the best deal of all, I`d switch to EDF March 15 which is as good as SP March 15, that way by the time the switch goes through you`d be nearly out of your current tariff anyway.

Thank you. I have had a think and that's exactly what I've done.

SP's Online Fixed Price Energy March 2015 would have cost £127 per year more but would have taken effect after 7 days - so I would be paying the new higher tariff for the higher energy months of November and December.

Next best was First: Utility but they appear to have bad customer service

EDF comes in £194 per year more but hopefully I will save some of the difference between that and SP by the EDF tariff not cutting in until late November. I also get a little flexbility from the cooling-off period.

We snuck in at the end of the free cavity wall offer last year. They did it just before the end of the financial year in March. That may shave around £100 off our bill. Also I have just invested in 3 6w LED GU10s bulbs for the kitchen to replace the 50W halogens, which I reckon will shave another £30 of our annual bill.

I have gone via Top Cash Back and Make It Cheaper to hopefully get £35.35 cashback. As I get my cashback paid in Amazon vouchers that should rise £37.11 assuming it tracks.

Incidentally is MSE losing some of its independence? The switching guide doesn't mention casback sites, which in my case give a more generous switching reward than the Cheap Energy Club. The CEC does have ease-of-use in its favour but to be completely independent the alternatives should be covered. MSE was always transparent about alternatives in the past.

Edit: The guide DOES mention alternatives but in a single sentence that you have to click on to expand at the end of the section of the Cheap Energy Club. Perhaps I am being fussy but it would be clearer if this was referenced at the 3 points in the article that the Cheap Energy Club cashback is mentioned.

The_Enforcer

Hi,

I am with iSave Fixed v3 December 2013. I have signed up with the Cheap Energy Club. I have told it to alert me when I can save more than £0. However, in the current climate, this isn't going to be the case until this fixed deal has ended i.e. 1st January 2014.

Will I get a CEC alert in advance of the expiry date to allow me time to switch before the fixed deal runs out?

Cheers,
TE

Jen_Jen1985

I'm trying to look into switching suppliers but on the comparison sites I use they don't seem to have my tariff listed for accurate comparison.
Was wondering if anyone can help me, this is all probably really simple and I'm probably over thinking everything but I'm a little worried about the announce price rises.

I am currently with NPower, I have electric only in a 2 bed flat and currently pay £83 per month. I have just found out my tariff is "Elec Super Tariff". I believe, but could be wrong, that I have an economy 7 meter (I know I have cheaper usage over night hours).

If anyone can help or at least point me in the right direction I would be most greatful.

glennamy

Beate wrote: »

I am on the EDF Blue +Price Promise April 2014 (no exit fee). It seems the cheapest deal as they never send me letters about better deals (which is their Price Promise) and the MSE Cheap Energy Club seems to agree.

I want to stay with them anyway so the only options at the moment to switch would be the March 2015 or the March 2017 tariffs. According to the Cheap Energy Club, the March 2015 tariff would cost me £100 a year more and the March 2017 tariff £238 a year more. I would of course have to verify that with EDF direct but have just given up after being in their phone queue for 30 minutes.

However, does it even make sense to switch in my case? The March 2015 tariff means fixing for 18 months ergo paying roughly £150 more in that time. That's roughly £50 more until the end of my current tariff from which obviously I was hoping to make the savings as EDF will inevitably raise prices till then.

But my annual energy statement estimates my costs at £880.74 for the next year while on another page they estimate I'll use £977.15 by the end of my annual billing period, whenever that is.
Either way, with an estimated 10% rise in energy costs, won't I only break even or actually pay a little more than the £100 for that year I'd have to pay on the March 2015 one (not even thinking about the March 2017 one, that seems way excessive). Or should I put 10% on top of those estimates too to figure out the real cost? Even then the savings seem to be minimal, or am I missing something?

Any thoughts please?

Hi Beate,

I am in the same position/deal as you (Blue+ EDF ends April '14 fix) duel fuel with all discounts. I also like EDF (best of a bad bunch) :rotfl:

I have just worked out the unit & standing charge costs of both gas & Electric of my current plan against the new LTF'17 and worked out that by switching now to the Long Term fix March '17 I would be paying 35% extra for electricity each year (4 winters 13/14/15/16) than what I pay now & 20% extra for gas.

I do not know about your bills, but my electric is roughly twice the cost of my gas and this is what they are bunging the bigger rise upon.

IMO even if they were to go up a massive 10% each year, that year you pay 10% extra (not 35% immediately all the way through).

I am staying on the current deal so that I still get my 'cheaper' price this winter until April '14. I will then see what deals are around then, but you need to stay on top of it and get the best deal then, do not let them roll you over into something etc.

I have also joined the Cheap Energy Club run by this site, do this and that will also give you the latest advice tailored to your bills/usage/circumstances.

This of course is my opinion but I agree that you are 'NOT missing something'. HTH

Consumerist

Jen_Jen1985 wrote: »

I'm trying to look into switching suppliers but on the comparison sites I use they don't seem to have my tariff listed for accurate comparison. Was wondering if anyone can help me, this is all probably really simple and I'm probably over thinking everything but I'm a little worried about the announce price rises.

I am currently with NPower, I have electric only in a 2 bed flat and currently pay £83 per month. I have just found out my tariff is "Elec Super Tariff". I believe, but could be wrong, that I have an economy 7 meter (I know I have cheaper usage over night hours).

I'm assuming this is a variable tariff with an open-ended contract.

I would suggest you compare the annual costs of E7 tariffs currently available to see which is likely to be cheapest for you. Use the unit costs on your bills to calculate the annual cost on your current tariff. Do the annual cost comparison yourself.

If you have any problems, post again and anyone will help out.