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New Gas and Electricity

Tonyw193
Tonyw193 Posts: 103 Forumite
10 Posts Name Dropper
So i will be moving into our home at the end of November and we're looking for both energy and gas suppliers. Now as it's our first home we dont have any information to go off to give us a comparison. I was just wondering what the best way forward would be to get a good deal.

Thanks 
Nationwide FTB 90%LTV
Full applications 26/08
Valuation booked 26/08 
Hard Search (equifax & Transunion) 04/09
Valuation completed 8/9 
Valuation approved 30/9 
More documents requested 30/9 
Mortgage offer 16/10

Comments

  • Robin9
    Robin9 Posts: 12,860 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Use 3000 kWh for Electric and 10,000 kWh for Gas.

    Separate suppliers are generally cheaper than dual.

    When you move in read (and photo) the meters and give the readings to the existing suppliers. You are then free to switch.

    Then get into the habit of reading your meters every month.
    Never pay on an estimated bill. Always read and understand your bill
  • matelodave
    matelodave Posts: 9,120 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    The very first thing when you take over the keys is to read the meters, gas, leccy & water - take photo's and write the readings down so you dont forget or lose them. Then get onto the existing suppliers and open an account in your name and give them the readings.Dont sign up for a fixed tariff at this stage - go for a variable without exit fees if you are intending to switch.

    This will ensure that you dont end up paying for someone else's gas, water or leccy. You can then sort out which supplier you want to transfer to (gas & leccy - you dont have an option with water).

    Do not try changing until you've got an account with the existing suppliers(s) - you are in a deemed contract with the incumbent supplier and it can cause all manner of difficulties if you dont follow the correct process

    If you haven't got any previous consumption info then use 3500kwh for leccy and 12,000kwh for gas as a starting point. It's more complex if you have an all electric place with storage heaters as you'll need to guess a total amount and try to apportion it to peak and off-peak (perhaps someone else can give you some estimates - I'd guess at 4000kwh peak and 8000kwh off peak).

    Try a couple of comparison sites - Which? and the CAB ones are pretty good and seem to have most of the suppliers.

    When using a comparison website it doesn't matter which supplier you use as your "existing supplier" because you aren't interested in any savings , you are interested in the total annual cost. You can do a bit of research before you move but don't initiate a swap until you've sorted out the existing suppliers first.

    When you are sorted out make sure you send in meter readings at least once a month and check your on-line statements and bills (do it even if you've got smart meters) so that you can keep an eye on your consumption and payments. Spending 10 minutes a month can save you hours of aggro in the future.
    Never under estimate the power of stupid people in large numbers
  • Gerry1
    Gerry1 Posts: 10,849 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Start comparing with Citizens Advice and 'Switch with Which?' because they show all suppliers by default.
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Robin9 said:
    Use 3000 kWh for Electric and 10,000 kWh for Gas.

    Separate suppliers are generally cheaper than dual.

    When you move in read (and photo) the meters and give the readings to the existing suppliers. You are then free to switch.

    Then get into the habit of reading your meters every month.

    Well the values mean little unless we are advised of the type of house and age and how often people are going to be in the house. And even then it's not much! For two people in a 3 bed semi I/We use 4900 E / 15000 G. Gas should reduce with the new boiler but I like it hot. I think 3000 Electric is unrealistic for anyone under 60. But of course those are my views ;-) We also have some of the cheapest costs in Europe (for now).

    Agree with your other point with the folowing provisos.

    Seperate suppliers are a pain and without dual fuel these days you can choose different tarrifs for both from the same supplier so differences tend to be in the not worth it area (YMMV).

    Yes always takea photo. Not just on move in but with every read. Also do it on the meter not the silly smart display. (but do have a smart meter to make life easier, just read yourself, move to 6 monthly if the supplier is getting it right though).

  • hareng
    hareng Posts: 613 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Tonyw193 said:
    Now as it's our first home we dont have any information to go off to give us a comparison. I was just wondering what the best way forward would be to get a good deal.
     
    Normally i would say dont get suckered in to their biased (average usage) quotes, each co uses different rates of usage to their advantage, often very different to peoples actual usage and of course theyre cheaper. Then you are greeted with massive price rise due to underestimated usage, happens all the time.

    Think just going to have to lump it untill you know actual usage, but choose a company that has no exit fees.
    Rule number 1 photo both gas and electric meters the day you move in time stamped. Have been robbed 7 times changing suppliers over the years.
  • Robin9
    Robin9 Posts: 12,860 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Carrot007 said:
    Robin9 said:
    Use 3000 kWh for Electric and 10,000 kWh for Gas.

    Separate suppliers are generally cheaper than dual.

    When you move in read (and photo) the meters and give the readings to the existing suppliers. You are then free to switch.

    Then get into the habit of reading your meters every month.

    ............................. I think 3000 Electric is unrealistic for anyone under 60. But of course those are my views ;

    Agree with your other point with the following provisos.

    Seperate suppliers are a pain and without dual fuel these days you can choose different tariffs for both from the same supplier so differences tend to be in the not worth it area (YMMV).

    @Carrott007 1) Can you clarify your opinion re under 60's and 3000 kWh -   are you saying they use more or less ?
    The national figure is falling as we get mere and more better insulated properties and the figure now quoted in 2,900 kWh.

    This is going to be an odd year for consumption averages due to home working / furlough / redundancy and schooling

    2) This is a Money Saving site and separate suppliers are generally the way to go.  If it saves me £25 a year then that's worth it to me.(it's a meal out in normal circumstances)


    The OP has to start somewhere  - by the time he/she's been in the property and monitored consumption for a few months he/she
    will be a lot wiser.


    Never pay on an estimated bill. Always read and understand your bill
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