Electricity contract renewal prices

melbury

Staman said:

Thanks for your replies - I'm currently with EDF, but will move to a cheaper supplier,

I am currently with EDF and they haven't offered me any incentive to stay with them, so am a bit miffed.  Will look at how going to different suppliers for electricity and gas compares to see if that is a more viable option.

MalMonroe

Margaret_Gammie said:

SSE has increased my direct debit every month for the last seven months.
 It is now £274 (£3288 annually!)
 I have storage heating with two meters. 
Is there anyway I can change or reduce this?

Yes, switch to someone else. Stat.

Gerry1

Margaret_Gammie said:

I have storage heating with two meters. 

Is there anyway I can change or reduce this?

If you have two separate electricity meters rather than one with two registers, it suggests you are on some legacy tariff which is being phased out and they are dramatically increasing the prices to nudge you on to Economy 7.  Unfortunately if your storage heaters are old they are probably undersized and rely on an afternoon boost to stop them going cold.

You'll probably need to switch to an Economy 7 meter and make any necessary wiring changes.  You can then shop around for a cheaper E7 tariff.  You may also have to upgrade the storage heaters.  If you're home all day you may get away with adding a cheap one, possibly second hand, but if you're out all day it might be better to replace then with well insured fan assisted ones such as Dimplex Quantum so that you're not wasting money by keeping the property warm as toast when you're not there.

There are many similar threads on this forum.  Search for terms including E10, Redring, White Meter, Restricted Hours Tariff, RHT, THTC etc.

Also see http://blog.nothinguntoward.eu/?p=306

and https://www.citizensadvice.org.uk/Global/CitizensAdvice/Energy/Energy Consultation responses/Restricted Meter Good Practice Guide.pdf/

Mark_Able

I’ve been reviewing energy suppliers' dual fuel tariffs as my current tariff with OVO expires soon.  I have done my research, comparing tariffs against the new tariff I'll be on with OVO, and frankly there is very little difference between the most competitive and OVO -  A saving of £6.00 a month/£72.00 a year.  Accepted I have only compared 8 other providers.   However, I've also used the comparison sites to, a). validate my analysis, and b). see if there were any better offers available.  The comparison sites claim I can save up to £380 a year on my rollover plan.  Frankly this is a con.  Firstly it assumes that the current tariff will be allowed to rollover to the standard flexible tariff.  This is unlikely, you wouldn't be consulting a comparison site if you weren't actively looking for competitive renewal tariffs.  Secondly they compare a fixed term tariff against a flexible tariff.  You can't claim you can save users money when you are not comparing "like with like".
I say, spend a little time and effort reviewing a handful of dual energy providers and compare your new plan with your existing provider's equivalent renewal offer.  You'll be surprised how much difference there is between what the comparison sites claim and what you can actually save.
You have to remember that all these providers are using the same energy and therefore there can never be any significant difference in quoted Kw/hr rates for either electricity or gas, the significant difference is in the standing charge.  My analysis shows the difference between hi-low electricity per Kw/hr is 24%, gas per Kw/hr is 56%.  Standing charges per day, difference between hi-low are: electricity 95% and gas 103%.
Don't be cheated by these sites, they are deceiving to you.

Talldave

Mark_Able said:

I’ve been reviewing energy suppliers' dual fuel tariffs as my current tariff with OVO expires soon.  I have done my research, comparing tariffs against the new tariff I'll be on with OVO, and frankly there is very little difference between the most competitive and OVO -  A saving of £6.00 a month/£72.00 a year.  Accepted I have only compared 8 other providers.   However, I've also used the comparison sites to, a). validate my analysis, and b). see if there were any better offers available.  The comparison sites claim I can save up to £380 a year on my rollover plan.  Frankly this is a con.  Firstly it assumes that the current tariff will be allowed to rollover to the standard flexible tariff.  This is unlikely, you wouldn't be consulting a comparison site if you weren't actively looking for competitive renewal tariffs.  Secondly they compare a fixed term tariff against a flexible tariff.  You can't claim you can save users money when you are not comparing "like with like".
I say, spend a little time and effort reviewing a handful of dual energy providers and compare your new plan with your existing provider's equivalent renewal offer.  You'll be surprised how much difference there is between what the comparison sites claim and what you can actually save.
You have to remember that all these providers are using the same energy and therefore there can never be any significant difference in quoted Kw/hr rates for either electricity or gas, the significant difference is in the standing charge.  My analysis shows the difference between hi-low electricity per Kw/hr is 24%, gas per Kw/hr is 56%.  Standing charges per day, difference between hi-low are: electricity 95% and gas 103%.
Don't be cheated by these sites, they are deceiving to you.

Duplicate post being discussed here: https://forums.moneysavingexpert.com/discussion/606930/energy-find-the-cheapest-supplier-earn-cashback/p399

brewerdave

Mark_Able said:  The comparison sites claim I can save up to £380 a year on my rollover plan.  Frankly this is a con.  Firstly it assumes that the current tariff will be allowed to rollover to the standard flexible tariff.  This is unlikely, you wouldn't be consulting a comparison site if you weren't actively looking for competitive renewal tariffs.  Secondly they compare a fixed term tariff against a flexible tariff.  You can't claim you can save users money when you are not comparing "like with like".

Don't be cheated by these sites, they are deceiving to you.

As has been said repeatedly on these forums for several years , the comparison sites are only doing as instructed by OFGEM !!