Energy: Find the cheapest supplier & earn cashback

u87

has anyone got any advice please? thanks.

sabita_isabel

My current gas supplier is BG and they have written to me offering to cap prices for 3 years (presumably at my current rate). But according to Energyhelpine.com I can save £141 by switching to EDF which is capped until only October 2009. Are further price rises likely after oct '09? Is it better to stick to BG or switch to eDF??!!

sabita_isabel

Hi U87, if I understood Martin's advice correctly, I think he says that you should not go for the on-line British Gas or E.On offers because they are both about to go up soon. But choose the top option of the capped ones (for me it was EDF). I have always found moneysavingexpert's advice to be accurate. He has researched it well and so if he says that using the comparison site is reliable then I am 100% sure it is. I certainly plan to switch asap

Gambit

sabita_isabel wrote: »

Hi U87, if I understood Martin's advice correctly, I think he says that you should not go for the on-line British Gas or E.On offers because they are both about to go up soon.

I'm confused... I thought that all the suppliers had already increased their prices? Are they going to rise again?? I was told that Eon is my cheapest supplier but now worried about switching to them if they are going up again.

Where did you see this isabel?

KittaKatta

I sympathize with both of you. Unfortunately no-one knows exactly what the situation is going to be next year. If you want to be on the safe side, cap. If you want to take a risk, do some calculations and try to get something cheaper than what you have now. I am surprised that you got different results from the comparison sites. I got several choices but the first ones were all the same.
Good luck )

whuuf

The way I see it...

Martin quote "While the big energy companies have increased their main tariffs, some haven't yet upped their online tariffs, including British Gas Click Energy 5 and E.ON EnergyOnline Extra Saver 8 and a few smaller providers such as Ebico haven't upped rates recently either."

It seems since Martin wrote this E.ON have increased their prices as they are now EnergyOnline Extra Saver 9 and are showing much higher prices then the British Gas Click Energy 5 plan which is due to rise by 20-30%.

So using the quote from energyhelpline.com, I added 30% to the Annual Expected Spend from British Gas and compared that against the current Annual Expected Spend with A.ON which worked out for me...
BG - £1138 (including 30% expected increase). Currently £876
E.ON - £1177
To fix till 2009 with EDF would cost me - £1274

Now quoting energyhelpline.com...

"During 2008 the UK has suffered two huge waves of price rises. Unfortunately, there is expected to be a further wave of price rises of about 20% in January - February next year. This is because next winter's wholesale gas prices (the prices the energy companies have to pay) are currently running 120% higher than last winter. The 50% price rises so far this year have covered most of this wholesale gas price rise but not all of it. Prices are expected to stay high for the next 2-3 years."

Now taking this advice I could fix now with EDF which it is estimating would cost me £136 more a year, but as I am already a British Gas customer I'm going to keep my gas with them and switch my electric over from E.ON and go onto the Click Energy 5 plan till the start of next year and review the market then.
I'm hoping the government will be able to get energy prices down but if it doesn't look they will then I will move on to capped rate before the next set of increases. At least I will have saved some money in the winter months of October, November and December and taken a extra £15 cashback to boot.

The only question I do have for the regulars which might put a spanner in the works is....
Do energy companies have a habit of increasing the price of their fixed rate offerings gradually up to before they increase their prices?
If this is the case then I could be better off fixing now...

blueclouduk_2

A big, big thank you to MSE.

A fixed my Scottish Power rate before the recent 34/9% increases. My DD is now fixed until February 2011.

It was this web-site that tipped me off about the possible summer increases. I'm now saving at least £15 a month!

Domina356

I haven't checked all posts, so don't know if people are aware, but those on certain benefits are eligible for a "Social Tariff". Each supplier is required to switch users following their request, as long as they meet the qualifying criteria.
Hope it helps someone.

bobisking

Can any cashback or offers be had by switching to Ebico via comparison/cashback site??

barrymckenzie73

Hi, I'm looking to switch and both my gas and electricity accounts are both in credit. What happens with the credit when I switch ?

Thanks.

Barry.