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Help With Next Deal

edited 26 February at 3:57PM in Energy
6 replies 61 views
ValoValo Forumite
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edited 26 February at 3:57PM in Energy
I'm coming to the end of my latest energy deal through Cheap Energy Club. I'm currently on the EDF Energy Simply Fixed Mar20 Tariff.

EDF Energy Simply Fixed Mar20 Tariff:

Electricity: Unit Rate - 2.846p per kWh / Standing Charge 18.900p per day
Gas: Unit Rate - 14.154p per kWh / Standing Charge 18.900p per day


I'm currently paying £113 per month via Direct Debt. I think this tariff was a Big Switch Event deal, I'm just wondering what are my best options are?






Replies

  • edited 26 February at 4:13PM
    FarwayFarway Forumite
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    edited 26 February at 4:13PM
    First, forget the price per month, you need your annual use for gas & electric in KWs to make a real comparison
    You may also find it cheaper to get gas & elect from different suppliers, the days of "dual" fuel from a single supplier being cheapest option were over a few years back

  • JJ_EganJJ_Egan Forumite
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    Use one of the comparison sites .Or MSE CEC to see current tariffs .
  • tk47tk47 Forumite
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    Valo said:
    I'm coming to the end of my latest energy deal through Cheap Energy Club. I'm currently on the EDF Energy Simply Fixed Mar20 Tariff.

    EDF Energy Simply Fixed Mar20 Tariff:

    Electricity: Unit Rate - 2.846p per kWh / Standing Charge 18.900p per day
    Gas: Unit Rate - 14.154p per kWh / Standing Charge 18.900p per day


    I'm currently paying £113 per month via Direct Debt. I think this tariff was a Big Switch Event deal, I'm just wondering what are my best options are?



    You appear to have the gas & electric the wrong way around, but it doesn't matter as that tariff is coming to an end shortly.

    As others say, get your anticipated annual consumption in kWh for the most accurate results. If that is not shown on your bill, give the supplier a call and obtain them.

    Then pop those details into one or more od the comparison services. You can almost certainly get better prices than you indicate above. Check out single supplies to see if that works better for you.

    More details here:
    https://www.moneysavingexpert.com/utilities/you-switch-gas-electricity/

    If you still need help. there's nearly always someone here to assist.

  • howard25howard25 Forumite
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    MoneySaving Newbie
    Like the OP I'm currently on the EDF Energy Simply Fixed Mar20 Tariff. I know my annual usage (20400 gas and 4400 Electricity). Is there any sense in looking at a 2 year fix (i.e. are prices likely to rise?) or stick with a one year fix which gives me a bit of certainty but also the chance to switch again in 12 months time?
    Also there seems to be a trade off between unit price and standing charge. Some deals I'll pay nearly £3 per month more before I use a single unit, that said if I use more units than expected it'll cost more too.

    Any advice from the forum would be appreciated.
  • edited 27 February at 1:37PM
    TalldaveTalldave Forumite
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    edited 27 February at 1:37PM
    If you know your consumption and it's not going to change then there will be a combination of standing charge and unit rate that gives you the best deal.  Last year I switched to a gas tariff with 42p a day standing charge, but it got me gas at 2.499p per unit (very cheap in April 2018) - it worked for me because of the crazily high consumption of the place I was renting at the time.  Just look at the total cost.
    No predictions from me on which way prices are going - we could all be locked up at home avoiding coronavirus, increasing energy demands and putting prices up, or the virus could wipe out large numbers of the population and prices plummet due to oversupply. Place your bets......
  • FarwayFarway Forumite
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    howard25 said:

    Also there seems to be a trade off between unit price and standing charge. Some deals I'll pay nearly £3 per month more before I use a single unit, that said if I use more units than expected it'll cost more too.

    I just go with annual cost knowing that in summer I'll be paying SC with very little gas used but annually it works just fine
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