Choosing new energy supplier

CaptainWales

Afternoon all
I'm looking to switch suppliers and have been on a few switching sites. These tell me that I will save £Xx a year but just an estimate.

At the end of the day is it the daily rate and standing charge I should be looking at? I.e if I just look for the lowest rate then over the course of a year I should be paying the lowest amount possible. I am disregarding cashback for these purposes.

Farway

If you use a comparison site then ignore save £xxxx figures, input your actual annual usage in KW not £s, then go by total annual cost which will include unit rate & standing charge, it doesn't really matter how this is derived it is the total annual cost for the KW you say you will use that you are interested in

That way it is easy to see that paying say £1500 per year is a better deal than paying £1680

It is also often cheaper to have separate suppliers for gas & leccy and not duel fuel

Gerry1

Always ignore all claims and projections.  They're meaningless, thanks to Ofgem's daft rules.  Start with Citizens Advice and 'Which? Switch'.

Also have a look at the ratings given by CA and the 'Add your feedback on xxxxx' threads here on the forum.

QrizB

Farway said:

If you use a comparison site then ignore save £xxxx figures, input your actual annual usage in KW not £s, then go by total annual cost which will include unit rate & standing charge, it doesn't really matter how this is derived it is the total annual cost for the KW you say you will use that you are interested in

Here's an example from my Cheap Energy Club comparison (an example not a recommendation) based on my typical annual usage figures in kWh:

In this case it's the little £703/yr that's the important figure, not the big £59/mth.

JGB1955

QrizB said:

In this case it's the little £703/yr that's the important figure, not the big £59/mth.

From where I'm standing, they're the same thing.....

Gerry1

JGB1955 said:

QrizB said:

In this case it's the little £703/yr that's the important figure, not the big £59/mth.

From where I'm standing, they're the same thing.....

The problem arises if you only compare monthly DD amounts.

You might not be paying enough with an existing DD, so a comparison based on a monthly amount could go seriously adrift, as can one based on just the type of property and number of rooms.  The only way to do it properly is to compare annual costs based on actual (not estimated) meter readings.

Anything else can end in tears.

Unlike most other sites, the CEC savings figure will be believable because it doesn't default to Ofgem's daft formula.

JGB1955

Gerry1 said:

JGB1955 said:

QrizB said:

In this case it's the little £703/yr that's the important figure, not the big £59/mth.

From where I'm standing, they're the same thing.....

The problem arises if you only compare monthly DD amounts.

You might not be paying enough with an existing DD, so a comparison based on a monthly amount could go seriously adrift, as can one based on just the type of property and number of rooms.  The only way to do it properly is to compare annual costs based on actual (not estimated) meter readings.

Anything else can end in tears.

I take your point.  I was just pointing out that £59 p.m. is the same(ish) as £702 p.a. I guess people can grow a credit in the summer months, ask for some of it back, then moan when there's not enough money in the 'kitty' in the winter.