Offering cheapest deal?

ploddo

Am I correct in saying your current energy provider should offer you the cheapest tariff the offer?
If so, would this be cheapest of all the tariffs they currently offer?

Reed_Richards

No.  I assume the context is that of a customer coming to the end of a fixed term contract in which case see https://www.ofgem.gov.uk/publications/decision-default-tariffs-domestic-customers-end-fixed-term-contracts

The answer to the second question is no too; companies sometimes offer "promotional" tariffs to a particular group of customers.

ploddo

Thanks for the link. I had tried to find info and failed. My supplier has offered me a loyalty tariff but it doesn’t differentiate between day rate and night rate. They do have Economy 7 tariffs but only for new customers. 

greenguppie

ploddo said:

Thanks for the link. I had tried to find info and failed. My supplier has offered me a loyalty tariff but it doesn’t differentiate between day rate and night rate. They do have Economy 7 tariffs but only for new customers. 

That's Symbio Energy for you!
https://forums.moneysavingexpert.com/discussion/comment/78531656#Comment_78531656

You were advised what you could try if you really are that desperate to stay with them, so I'll not repeat it here.

Otherwise, you need to follow the advice Symbio offered you.
"If you find any cheaper tariff in the market you can switch supplier."

You need to hit the comparison sites.
17.876p per kWh plus 20p S/c. (plus VAT?) for your loyalty?
As that is a variable tariff, expect it to not last beyond October (if it even gets that far)

e.g. I can see a 12M fixed tariff from another supplier for your usage in the Northern region (supply region picked at random) with the following vat inclusive rates:
Day rate: 17.949p per kWh
Night rate: 13.029p per kWh
Standing charge: 25.55p per day

Yes, the s/c is 5.55 p per day higher, but you'll get that back (almost) after consuming just 1 kWh at low rate.
I suspect you use a lot more than 1kWh per day at low rate, if you are using a total of 9500 kWh pa

ploddo

Thank you. I’m not hell bent on staying with Symbio. This post was just to find out if they were following the correct procedure.  I had thought that they were required to offer their cheapest tariff. Didn’t realise they were allowed to have special tariffs for some customers and not others, or that they could offer a ‘normal’ tariff to an Economy 7 tariff.

I have done plenty of searching for a cheaper tariff. (I am Eastern Region).  I have been surprised that this year there are a lot more variable tariffs and the cheapest require you to have a smart meter.

having done all the sums, the cheapest for me still works out at around £550 more, that’s a lot of money for anyone let alone someone on a pension. Fuel poverty here I come 😩

greenguppie

I'm not sure what you are looking at.

The cheapest Symbio fixed rate tariff is coming up at £1430 for your usage of 9500kWh pa. You'll know as an existing Symbio customer you'll actually be end up being charged a whole lot more even if you were entitled to that tariff.
That tariff is also a single rate tariff.

But that is a loss leading, introductory tariff for new Symbio customers only. The tariff you are being quoted by Symbio as an existing customer you said is going to set you back £1771 pa.

I don't know what split your day/night usage is, but assuming 50%, I can find at least 2 suppliers that will cost you £1630pa or less. Both are fixed tariffs, and neither will require you to have a smart meter. Seasonal billing may apply, especially joining at this time of year.

There are a lot more options that cost less than £1771, but some of those may indeed require a smart meter which they will install for free.

ploddo

Thanks for looking. The £1630 is probably the one I had found, £550 more than I’m paying.  I will have another look but I’m guessing that’s what I have to pay now.

greenguppie

ploddo said:

Thanks for looking. The £1630 is probably the one I had found, £550 more than I’m paying.  I will have another look but I’m guessing that’s what I have to pay now.

With respect, it is somewhat of a pointless excercise looking at what you are paying today based on a tariff that was probably set about 12 months ago, which was probably itself a loss leading tariff by Symbio.
You will not be paying that unsustainable price any more in 2 weeks time.

Last year I was buying petrol at 99p per litre. This weekend it was costing me £1.35 - £1.40 per litre.
It's an equally pointless comparison. All I could do was find a petrol station that would only cost me £1.35 per litre, rather than £1.40 per litre.

If you transfer to the cheapest Symbio tariff available to you today, it will cost you £1771 pa. As that is a variable tariff, expect that price to increase by £139+ per year from October, if not before.

If you do nothing, it will probably cost you a whole lot more on Symbio's default tariff.

niktheguru

greenguppie said:

I'm not sure what you are looking at.

The cheapest Symbio fixed rate tariff is coming up at £1430 for your usage of 9500kWh pa. You'll know as an existing Symbio customer you'll actually be end up being charged a whole lot more even if you were entitled to that tariff.
That tariff is also a single rate tariff.

This is slightly incorrect. If you take a seasonal or fixed direct debit, like you also suggested for your other tariffs, then you won't be charged a whole lot more by symbio, sure your bills will look odd with overestimation, but you wont actually be paying a lot more, unless you are on a variable direct debit per month.

ploddo

I’ve signed up to ESB. Long fix, 19.65 day 14.00 night and 24.87. Comes out at £1748 pa £144 per month dd. 

I appreciate that it has all gone up, That’s 18% of my pension and the log burner fuel will take another 9%. So not much going to be left after the rest of the bills are paid. Let’s hope they don’t cancel the triple lock!

greenguppie

niktheguru said:

greenguppie said:

I'm not sure what you are looking at.

The cheapest Symbio fixed rate tariff is coming up at £1430 for your usage of 9500kWh pa. You'll know as an existing Symbio customer you'll actually be end up being charged a whole lot more even if you were entitled to that tariff.
That tariff is also a single rate tariff.

This is slightly incorrect. If you take a seasonal or fixed direct debit, like you also suggested for your other tariffs, then you won't be charged a whole lot more by symbio, sure your bills will look odd with overestimation, but you wont actually be paying a lot more, unless you are on a variable direct debit per month.

Until they up your EAC ...