Energy: Find the cheapest supplier & earn cashback

abimonster02

When calculating your kW/h used I have found the last actual meter reading and then my most recent meter reading that I submitted and subtracted one from the other to get the total. Is this what I would do for both rates and then add that total together ie rate 1 and 2 useage to get the total kW/h used or do I only use the higher rate reading for comparison tools? It doesn't make it clear so am trying to get the most accurate info. The last actual reading was 14 months ago October 13 and I submitted a reading December 14 so I have then divided the total by 14 and then multiplied that amount by 12 to get my annual useage figure. Is that the rut thing to do?
I ran a quote on eon website who are my current provider and the figures they used for my annual use age don't match mine?! There's are significantly higher than what I calculate useage to be?!

Dustykitten

Disappointed that exit fee for Extra Energy is £50 if I use the energy club switch but £25 if I don't - negates the £30 cashback really. Same with First Utility £60 exit with club £30 without.

momist

abimonster02 wrote: »

The last actual reading was 14 months ago October 13 and I submitted a reading December 14 so I have then divided the total by 14 and then multiplied that amount by 12 to get my annual useage figure. Is that the rut thing to do?

Yes, that will give you an indication. It might be slightly less than a true annual amount, as the October/November usage will be a bit higher than in mid summer, but it's not enough to worry about and anyway, it's only a guesstimate of future consumption.

If Eon or anyone else is using higher figures, then they are skewing the payments in their own favour. You can get comparisons using YOUR figures if you give them only the annual kWh figures on any of the comparison web sites.

To do the same for Gas, then you have to do a conversion (unless you have a very modern smart meter that reads in kWh) Most meters read in cubic feet or cubic meters. The conversion factors should be on your printed gas bills, but the process is a bit convoluted, as there is a conversion to a common measure, then a factor to compensate for the heat value of the gas supplied which can vary over time due to composition of the gas, then a conversion to the electricity equivalent in kWh. The arithmetic gets "interesting" and prone to errors. Try your own conversions on known figures from your old bills, before applying it to the most recent 12 month (or 14 month with correction) readings. Alternatively, use old paper bills to get at the kWh usage directly, if you can.

Good luck!

boobbby

Dustykitten wrote: »

Disappointed that exit fee for Extra Energy is £50 if I use the energy club switch but £25 if I don't - negates the £30 cashback really. Same with First Utility £60 exit with club £30 without.

Maybe I am reading it wrong but are saying it costs more to exit when using the energy club but less if you don't use the energy club

boobbby

The way I calculate if its going to be cheaper switching is just to look at the daily rate cost and then the Kwh cost. If both are cheaper than your present supplier then your bill must be cheaper and even if their was a cancellation charge, in the long term it must be cheaper to have switched.

momist

boobbby wrote: »

The way I calculate if its going to be cheaper switching is just to look at the daily rate cost and then the Kwh cost.

That is right, of course, but often the kWh cost and daily rate cost are "hidden" until you sign up! We need more transparency in the energy market, as everyone keeps saying, but what we get is more complications!

Dustykitten

boobbby wrote: »

Maybe I am reading it wrong but are saying it costs more to exit when using the energy club but less if you don't use the energy club

Yes unless I'm doing something wrong.

HarryJo

After putting off switching utility providers for years, I was enticed to swap in November 2014 and it completed in January 2015. I wish I had looked into it in more detail and waited.
1. My old provider reduced my payments to £74 a month
2. My new provider is charging me £93
3. Just done a new comparison and my old provider has introduced a new tariff which is cheaper than my new one!

So in all, I would have been better off not switching!

Dustykitten

HarryJo wrote: »

After putting off switching utility providers for years, I was enticed to swap in November 2014 and it completed in January 2015. I wish I had looked into it in more detail and waited.
1. My old provider reduced my payments to £74 a month
2. My new provider is charging me £93
3. Just done a new comparison and my old provider has introduced a new tariff which is cheaper than my new one!

So in all, I would have been better off not switching!

Are you now in a fixed deal with an exit fee? If not there is nothing to stop you from switching back if you want to. Use a different cashback option though

greatgran_2

I have just switched from Calor gas at 57p/l to a local supplier at 38p/l