Energy: Find the cheapest supplier & earn cashback

Consumerist

This is not the fault of the comparison sites. This is down to Ofgem wanting to replace its claimed confusion due to multiple tariffs by its own requirements to keep customers confused. Once consumers get the hang of the new complications it has recently introduced, it will change its requirements again so that, in the end, no one will ever understand the finances of switching.

I think we would be better off with Angela Knight (Energy UK and former spokesperson for the banking industry) running Ofgem.

barryb1

I am in the process of moving from Scottish Power to Sainsburys Energy (British Gas) after getting a good quote through the MSE Energy Club to switch. Haven't heard a word from Scottish Power about the switch date, which Sainsburys advise was 20 February. Also tried to phone Sainsburys - gave up after 25 minutes.

When will these power companies learn to improve their customer service? I'm starting to think it might just be better to pay a bit more and be able to speak to people. I just dread what mess SP are likely to create with their final bill.

System

boobbby wrote: »

This is probably the best message on changing to a new tariff and wish I had read it more carefully. Although I will save by changing it wont be as much as forecast as I did not realise the energy club and maybe also the comparison sites calculate the savings using the standard tariff when the term ends so giving a completely false saving. The nearer you are to the end of your present term then the energy club will present even bigger savings, so be warned!!

Exactly. The only customers who will get an accurate savings calculation are those on standard variable tariffs and those on fixed tariffs with more than one year remaining to the end of their contract.

https://assets.digital.cabinet-office.gov.uk/media/54da24ebed915d514400000b/The_Energy_Shop_Submission.pdf

It is also worth pointing out that use of the above methodology is a condition that OFGEM places on Licence Holders (e.g.; energy suppliers). Comparison sites do not have to use the inflated savings methodology but most elect to do so.

Consumerist

Hengus wrote: »

. . . It is also worth pointing out that use of the above methodology is a condition that OFGEM places on Licence Holders (e.g.; energy suppliers). Comparison sites do not have to use the inflated savings methodology but most elect to do so.

I wasn't aware of that. But you can see how it serves the comparison sites' interest to inflate savings claimed. Thanks for the link.

victor2

Consumerist wrote: »

I wasn't aware of that. But you can see how it serves the comparison sites' interest to inflate savings claimed.

Doesn't really, as they lose credibility. Just look at the criticism on here of the Cheap Energy Club...

Biggles

boobbby wrote: »

Although I will save by changing it wont be as much as forecast as I did not realise the energy club and maybe also the comparison sites calculate the savings using the standard tariff when the term ends so giving a completely false saving. The nearer you are to the end of your present term then the energy club will present even bigger savings, so be warned!!

Exactly. Much better to use www.energyhelpline.com instead and, when viewing the comparison page, click 'Find out more, as well as how cancellation fees might apply, by clicking here', then select 'Return to Standard results' instead of 'weighted results'.

kevbev321

Hi,

I just want to cross reference my other forum post here, there is a story on sky news this morning claiming that companies including MoneySupermarket (same company as MSE), have been misleading customers into making energy switches that aren't the cheapest for the consumer, but which pay commision to the comparison site. Post is here:

https://forums.moneysavingexpert.com/discussion/comment/67829257#Comment_67829257

Doc_N

kevbev321 wrote: »

Hi,

I just want to cross reference my other forum post here, there is a story on sky news this morning claiming that companies including MoneySupermarket (same company as MSE), have been misleading customers into making energy switches that aren't the cheapest for the consumer, but which pay commision to the comparison site. Post is here:

https://forums.moneysavingexpert.com/discussion/comment/67829257#Comment_67829257

A point well made. And for me the constant badgering by MSE and Martin Lewis, trying to persuade people to switch every few weeks when there's commission at stake, has somewhat destroyed the credibility of both this website (Moneysupermarket-owned) and Martin Lewis.

The savings shown certainly appear to be inflated, and I shall watch with interest to see if this website has to compensate customers who were misled. If that proves to be the case (and we don't know that yet, of course) it will be a sad day for MSE.

theloft

The MSE Energy Club is a typical example of recommending tariffs that are not necessarily the cheapest. I never minded going via MSE before Martin sold out to Money supermarket. Cannot blame him for cashing in on his idea, but now it is just another commercial operation. Of course you can still get useful info here, just use it wisely. I used Biggles method (post 3148) and used figures from energy helpline, and they offered a better cashback deal as well. The best for me was Scottish Energy who although they had bad reputation for Service, have been fine so far. Plus no exit penalties!

Consumerist

victor2 wrote: »

Doesn't really, as they lose credibility. Just look at the criticism on here of the Cheap Energy Club...

I take your point but what proportion of UK energy customers read MSE?