Facebook friends recommending energy swaps

jayniew

I’ve recently seen a couple of friends on fb stating that they have managed to save themselves and others a lot of money on energy prices, finding companies that are under the price cap, and to contact them if I want to save money. Has anyone else seen this? I don’t really want to contact them as it all seems a bit too good to be true. 

QrizB

I suspect they are Utility Warehouse customers fishing for referral fees.

jimjames

jayniew said:

I’ve recently seen a couple of friends on fb stating that they have managed to save themselves and others a lot of money on energy prices, finding companies that are under the price cap, and to contact them if I want to save money. Has anyone else seen this? I don’t really want to contact them as it all seems a bit too good to be true. 

As yourself why would any company sell below the cap when the cap isn't even break even point? You're right to be way and it being too good to be true.

k_man

Or possibly Octopus customers.
Octopus offer referral rewards of £50 each (referrer and new customer) and will be under the price cap, albeit only £2 for new customers.

So not really saving 'a lot of money' (depending on your view of approx. £52)

Astria

To be fair, October has decided to sell under the cap, but they are not accepting new customers onto that tariff so its kind of a moot point.

Most companies now don't even want you on the capped rates - they are only interested if you are signing up to a fixed rate, and most of those have disappeared come 1st March.

k_man

Astria said:

To be fair, October has decided to sell under the cap, but they are not accepting new customers onto that tariff so its kind of a moot point.

Most companies now don't even want you on the capped rates - they are only interested if you are signing up to a fixed rate, and most of those have disappeared come 1st March.

They (Octopus) are accepting new customers, just not onto the rate at £50 under the cap, which is existing customers only):

https://octopus.energy/press/octopus-energy-to-increase-prices-announces-50-million-of-customer-support/

The standard variable tariff for new customers will be £1969, £2 below the price cap.

With the £50 referral bonus this makes approx. £52 saving.