Energy: Find the cheapest supplier & earn cashback

oldkingtomcole

Hello, I'm moving into rented accommodation with my partner in 2 weeks time. We've been renting a room in a house so haven't been paying energy bills.
Could anyone advise us on the best deal/s for energy. I believe the electric is on a prepay meter, but I don't think the gas is.
Thanks in advance

Consumerist

oldkingtomcole wrote: »

Hello, I'm moving into rented accommodation with my partner in 2 weeks time. We've been renting a room in a house so haven't been paying energy bills.
Could anyone advise us on the best deal/s for energy. I believe the electric is on a prepay meter, but I don't think the gas is.
Thanks in advance

Best advice is to use an energy comparison site or two (e.g. MSE Cheap Energy Club) to get quotes from several suppliers all at once.

Since you don't really know what your annual consumption is likely to be, you can use <Ofgem's Typical Domestic Consumption Values> for your quotes on the comparison site.

You will need to check your tenancy agreement to make sure it is you who pays for energy used in the property. If the landlord pays for energy then you will not have much choice as to supplier and tariff.

Edit
You may find this <MSE article> of some interest.

Bexie111

Hi

I'm not sure what to do about switching my gas and electricity. My combined tariff is due to end at the end of August. I usually just find the cheapest option after filling in my yearly usage in an online calculator but I'm wondering if I should do something different. My electricity usage is pretty much the same every month but my gas usage fluctuates enormously. I know I can't be the only one.

In the summer months (June - Aug) I only use about 20kWh for the whole month. May and September were closer to 200kWh. Then in December and January I'm using around 1600kWh and 1200kWh in November and February.

When I put the yearly usage in the online calculator, it averages it out, so I think I'm probably not getting the best deal on gas because of the variation in daily charges to kWh charges.

Does everyone else in my position change their gas tariff twice a year? And what do you do about exit charges etc.

Should I separate my gas and electricity to get a good fixed electricity tariff that lasts a while longer?

Any polite advice would be welcome! Thanks.

Consumerist

Bexie111 wrote: »

. . . Any polite advice would be welcome! Thanks.

The cheapest deals normally require a year's fixed contract anyway so your annual consumption is really what matters. To be able to switch at shorter intervals would normally mean being on a variable tariff which tends to be more expensive than fixed.

Getting your energy from different suppliers, however, can work out cheaper than a dual fuel deal - but fixed tariffs are still generally cheaper than variable. An added bonus is that it gives you an additional direct debit if you need one for current account benefits (e.g. interest or rewards).

Don't worry about variations in consumption throughout the year - we nearly all have that.

System

Hi - you could switch to a no standing charge supplier for gas from April through to September but I am not sure that it is worth it for electricity. Having said that, my gas daily charge at the moment is only 33p! I use two separate suppliers for gas and electricity as it works out well for me at the moment.

FWiW, I switched my gas supply in May - 6 months early - to secure a good price for this coming Winter. I was on a tariff with no exit fees. As gas usage is my biggest variable, I usually run three comparisons: annual usage and then plus/minus 10 to 15%. This may give a different cheapest supplier result. Where possible, I favour the supplier with the lowest unit price but at times it isn’t that simple. Cashback etc are secondary considerations.

Only you can judge whether the hassle of Winter/Summer switching is worth what might be a very modest saving. Best of luck.

Drummerboytom

Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?

System

Drummerboytom wrote: »

Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?

Check what assumed annual consumption (kWhs/year not £s) your supplier is using to come up with the annual projected cost? Suppliers DO NOT offer special deals to existing customers. Ignore all projected savings. Ofgem accredited PCWs and suppliers are required to use the same methodology and the same tariffs. MSE CEC shows all tariffs; some PCWs do not. Suppliers also tend to show prices ex VAT whereas PCWs include VAT.

footyguy

Drummerboytom wrote: »

Cheap Energy Club FAQ says you compare all the deals on the market yet my existing supplier has offered a better deal with my renewal notice than the MSE price comparison tool. How come ?

Welcome to MSE.

Are you saying the supplier has offered you a tariff that is not shown on the CEC?
If so, who is your current supplier, and what tariff (name) have they offered you?

Or are you saying the annual cost is different?
If so. ensure you are using the same anticipated annual consumption figures your suppolier has used.

Hopefully the supplier has provided you with details of the new tariff (unit price, satnding charge, etc). Compare these details to that shown on the CEC.

If they are the same on the CEC as the supplier provided, then you will have to do the calculation yourself and see who has given you the correct calculation

Drummerboytom

footyguy wrote: »

Welcome to MSE.

Are you saying the supplier has offered you a tariff that is not shown on the CEC?
If so, who is your current supplier, and what tariff (name) have they offered you?

Or are you saying the annual cost is different?
If so. ensure you are using the same anticipated annual consumption figures your suppolier has used.

Hopefully the supplier has provided you with details of the new tariff (unit price, satnding charge, etc). Compare these details to that shown on the CEC.

If they are the same on the CEC as the supplier provided, then you will have to do the calculation yourself and see who has given you the correct calculation

The proposed new tarriff is on CEC .
The annual projection by supplier and CEC don't match using same annual usage (kw/h) -
(Gas is lower on one and Electric lower on the other) which is confusing enough but of most concern is when i do the calculation on the actual rates detailed by the supplier for Gas it is coming out over double the figure they are quoting in the text of the letter. :mad:

Who said switching was easy ?

victor2

Drummerboytom wrote: »

The proposed new tarriff is on CEC .
The annual projection by supplier and CEC don't match using same annual usage (kw/h) -
(Gas is lower on one and Electric lower on the other) which is confusing enough but of most concern is when i do the calculation on the actual rates detailed by the supplier for Gas it is coming out over double the figure they are quoting in the text of the letter. :mad:

Who said switching was easy ?

Are you calculating your anticipated usage cost using your existing tariff until it ends, then the new prices after that date?
Or are you comparing the same gas usage cost on your existing tariff with the cost for 12 months on the new tariff?
As already mentioned, don't forget to include VAT (at 5%) in both calculations.

If you are nearing the end of your tariff (49 days or less left), and initiate a switch, you will remain on that tariff until the switch is done and not face an exit penalty, if there is one.

Generally, switching is relatively easy if you let a new supplier or comparison site handle it for you. However, it can go wrong and you can get confused trying to predict the costs - and on rare occasions, suppliers have been known to get it wrong.
Politicians will tell you it's easy - 'nuff said