Comparison Sites

Neilutf

Hi. I am new to this forum so this subject may have been discussed before. I have used comparison sites to switch energy in the past. The last time I used it was November 2019 when I switched from eon to Scottish Power. I thought I would do another comparison on a couple of sites and they were tempting results. However, I decided to check my existing bill and found that the comparison sites were not using the same prices per item as my provider even though the name of the tariff name was the same. I have not made an error with the input. When recalculated using the tariff quoted on my bills, the saving was negligible,if any, and would have cost me more when allowing for exit fees. Anyone else come across this ?

Gerry1

VAT?

Always ignore all claimed savings and projections, just compare annual costs based on kWh from actual meter readings, never estimates.

Ofgem's crazy rules mean that savings claims are meaningless.

Neilutf

Thanks Gerry1. There doesn't seem to be a purpose for comparison sites apart from giving you details of all tarriffs if they are using incorrect information. Seems that you should always recalculate the offer using the latest actual bill.

Gerry1

Which site, which tariff?  They should be using the correct existing rates, but it's slightly irrelevant because you can calculate what you're currently paying.  Did you enter the postcode correctly?  Tariffs vary by region.

Don't forget to try separate suppliers not just dual fuel, and also to compare single rate if you have an E7 meter.

Remember to compare the whole market, not just those that the sites can switch you to.  Start with Citizens Advice and 'Switch with Which?'.

dogshome

Start your search with The Citizens Advice Bureau - They are not commercial and show every supplier without fear or favour

When you think you have found a supplier you want - Check the customer feedback before you commit.

Having different suppliers for Gas & Elec can save money so enter your details twice, Once having selected Gas only supply, and then again selecting Elec only supply

Neilutf

Hi Gerry. I appreciate what you you say about whole market but I will provide example. I have just recalculated using the Citizens advice/uswitch site. Note that I have done this on a couple sites over a period of days. Post code correct. I am currently on Scottish Power Super Saver November 2020 B9. This resulted in various quotes offering savings. As an example,  I decided to select EDF which gave a savings of £262.78(£202.78 after exit fee). A total spend of £988 per annum compared to £1251 per annum with my current provider. I drilled down to the tariff details and noticed that the rates quoted under the column of my current provider are slightly different to those actually charged under my plan, on my bills.  I therefore decided to manually calculate my bill using the same usage as I had input for the quote. Calculations have been checked. The result was that I would save £114 by changing but I would also have to pay exit fees of £60. So a net saving of £54. Not only is my current provider tariff wrong, I do not know whether the new provider tariff is correct.
I cannot see any error. As a matter of interest, have you checked the tariff actually charged by your provider to what is quoted on a comparison site ?

Petriix

The reason for the discrepancy is because of the 'Ofgem rules' mentioned above. They calculate the savings based on the absurd assumption that, at the end of your current fixed term, you will allow yourself to move on to their standard variable rate and pay much more. The MSE cheap energy club allows you to base the savings on your actual fixed price instead which, unsurprisingly, gives you a more accurate comparison.

JJ_Egan

I always double check on sign up .

But only use comparison sites to see costs / tariffs not what they estimate i can save .

Due to OFGEM rules comparing prices against current suppliers standard expensive tariff .

EG last swap about £40 pa better off only due to price dropping .

Talldave

Ignore the "savings" figures, because as you've discovered they cannot be trusted.  You're lucky you found your tariffs to compare against. The MSE Cheap Energy Club doesn't list either of my current tariffs.  Even if the comparison site's version of your tariff matched yours, the savings will still be totally imaginary because, as already mentioned by others, the site will assume you go onto your supplier's standard rate until the end of a 12 month period from now.  Totally stupid.

As long as you enter your consumption correctly, you'll still get the cheapest option at the top of your results - then just check the standing charge/unit rate against your current tariff.  I paste the figures I find into my own spreadsheet which works out savings in the way that normal humans like to see them.

Gerry1

Neilutf said:

I decided to select EDF which gave a savings of £262.78(£202.78 after exit fee). A total spend of £988 per annum compared to £1251 per annum with my current provider.

As previously stated, ignore all claims about savings and projections.  You won't spend £1251 in the next year with your current provider unless you do nothing and get washed up onto a rip-off tariff after your fixed tariff expires.  Ofgem is to blame for this total lunacy.

If the kWh rates seem wrong, have you always included VAT?

If you're still convinced there's a mistake, please quote the kWh rates and standing charges on your current bill and give the first part of your postcode so we can check.

My results have always been accurate, apart from a slight difference on some stupid sites that ask for night E7 usage as a crude percentage (e.g. 20% or 25% ) rather than actual kWh.  I can never understand why they introduce errors like this: bills show kWh, so why convert to a rough percentage and back again to kWh?

Neilutf

Thank you to all that have commented
Thanks Gerry1. Stupid me! Its the VAT. I included it at the end like a normal bill. The quotes include it in the individual unit. A bit confusing when you are trying to compare. I will know in future.
Thanks for your quick responses today.