Do energy club comparison prices list post 1st April prices?

torncurtain

The energy club comparison tool has a different supplier to my own listed with rates that are the same as my current rates, with my current supplier (standing charge & unit rate charge). So my question is as above, are the rates listed in the MSE Energy Club comparison tool listing prices for after the 1st April or are they the current rates (pre-hike)?  

I don't want to change suppliers if I'm just going to end up in the same position, makes no sense. 

Also, does anyone know how on earth I can figure out what my monthly/yearly kWh usage is? It's an old pre-pay meter. 

Thanks

Ultrasonic

I just had a quick look out of curiosity and all of the results I got were fixed deals. If you get the same then the prices won't change at the start of April.
 
However, there is a decent chance you'd be better off on the standard variable tariff with your current supplier (which will be at the price cap) rather than taking one of the few currently available fixed deals. It's a big guess either way right now with the uncertainty cased by Russia invading Ukraine.

EssexHebridean

Annual use - go back over your bills and find one with a reading pretty much a year ago, then read your bill again now - job done. 

Re the unit rates on comparison sites, you should be able to get a quote directly from the supplier you’re looking at to confirm what their prices going forward will be, 

torncurtain

Ultrasonic said:

I just had a quick look out of curiosity and all of the results I got were fixed deals. If you get the same then the prices won't change at the start of April.
 
However, there is a decent chance you'd be better off on the standard variable tariff with your current supplier (which will be at the price cap) rather than taking one of the few currently available fixed deals. It's a big guess either way right now with the uncertainty cased by Russia invading Ukraine.

Maybe I'm confused, what's showing is options that are variable. But, the unit rate and standing charge are the same as what I'm paying now. Come the 1st April my unit rate and standing charge (with current supplier) is going up 24 & 34%. So, the rates that are shown in the MSE comparison tool, will they also go up or will they be roughly what's listed in the tool? This is what's confusing me, there's no tariff end date or price guarantee end date. If I jump ship with my current supplier, surely it would be better to do it now to lock in these better rates? 

Why do you think the standard variable rate would be better? I'm on a fixed rate with my current supplier. 

Thanks for checking, I appreciate your feedback. 

torncurtain

EssexHebridean said:

Annual use - go back over your bills and find one with a reading pretty much a year ago, then read your bill again now - job done. 

Re the unit rates on comparison sites, you should be able to get a quote directly from the supplier you’re looking at to confirm what their prices going forward will be, 

Thanks for your feedback. I don't have a bill, I have a prepay meter with a key. I've taken a meter reading and will take another one in a week. And, will contact the supplier directly like you suggest. Thanks. 

Ultrasonic

torncurtain said:

Ultrasonic said:

I just had a quick look out of curiosity and all of the results I got were fixed deals. If you get the same then the prices won't change at the start of April.
 
However, there is a decent chance you'd be better off on the standard variable tariff with your current supplier (which will be at the price cap) rather than taking one of the few currently available fixed deals. It's a big guess either way right now with the uncertainty cased by Russia invading Ukraine.

Maybe I'm confused, what's showing is options that are variable. But, the unit rate and standing charge are the same as what I'm paying now. Come the 1st April my unit rate and standing charge (with current supplier) is going up 24 & 34%. So, the rates that are shown in the MSE comparison tool, will they also go up or will they be roughly what's listed in the tool? This is what's confusing me, there's no tariff end date or price guarantee end date. If I jump ship with my current supplier, surely it would be better to do it now to lock in these better rates? 

Why do you think the standard variable rate would be better? I'm on a fixed rate with my current supplier. 

Thanks for checking, I appreciate your feedback. 

All capped SVR rates will change from this:

https://forums.moneysavingexpert.com/discussion/comment/78658822/#Comment_78658822

to this:

https://forums.moneysavingexpert.com/discussion/comment/78957887/#Comment_78957887

on 1 April.

I'm genuinely surprised you're seeing variable options though as generally suppliers aren't accepting new customers, and those that are, are generally only doing so to fixed tariffs. I've just checked again and still get no variable options (and yes I do have the filters set appropriately!) but perhaps this reflects us living in different parts of the country.

As for why the capped SVR may end up cheaper, it all comes down to guessing how big a jump in the cap prices there may be in October. Current fixed deals look expensive but nobody can be confident right now what will work out better in the long term due to the huge uncertainty relating to the Ukraine crisis. I'd suggest you have a browse of some other threads here where people are trying to weigh up various fixed deals.

torncurtain

Ultrasonic said:

torncurtain said:

Ultrasonic said:

I just had a quick look out of curiosity and all of the results I got were fixed deals. If you get the same then the prices won't change at the start of April.
 
However, there is a decent chance you'd be better off on the standard variable tariff with your current supplier (which will be at the price cap) rather than taking one of the few currently available fixed deals. It's a big guess either way right now with the uncertainty cased by Russia invading Ukraine.

Maybe I'm confused, what's showing is options that are variable. But, the unit rate and standing charge are the same as what I'm paying now. Come the 1st April my unit rate and standing charge (with current supplier) is going up 24 & 34%. So, the rates that are shown in the MSE comparison tool, will they also go up or will they be roughly what's listed in the tool? This is what's confusing me, there's no tariff end date or price guarantee end date. If I jump ship with my current supplier, surely it would be better to do it now to lock in these better rates? 

Why do you think the standard variable rate would be better? I'm on a fixed rate with my current supplier. 

Thanks for checking, I appreciate your feedback. 

All capped SVR rates will change from this:

https://forums.moneysavingexpert.com/discussion/comment/78658822/#Comment_78658822

to this:

https://forums.moneysavingexpert.com/discussion/comment/78957887/#Comment_78957887

on 1 April.

I'm genuinely surprised you're seeing variable options though as generally suppliers aren't accepting new customers, and those that are, are generally only doing so to fixed tariffs. I've just checked again and still get no variable options (and yes I do have the filters set appropriately!) but perhaps this reflects us living in different parts of the country.

As for why the capped SVR may end up cheaper, it all comes down to guessing how big a jump in the cap prices there may be in October. Current fixed deals look expensive but nobody can be confident right now what will work out better in the long term due to the huge uncertainty relating to the Ukraine crisis. I'd suggest you have a browse of some other threads here where people are trying to weigh up various fixed deals.

Well, clearly I'm an idiot because those links read like another language to me!

I think I understand but I don't fully understand what the difference is between a SVR and fixed. But, if I've understood things correctly, to my mind if you're on a fixed tariff it doesn't change unless the supplier contacts you and says it's going up. Whereas with a SVR it goes up and down without you being notified in advance. One option (fixed) gives you the chance to search for a better deal and maybe that better deal would be SVR, but SVR can go up high through kWh (mentioned: https://forums.moneysavingexpert.com/discussion/comment/78957887/#Comment_78957887) even if the SC is capped. So, again, to me it looks like a fixed rate would be a better option?! Honestly, it feels like I'm not understanding something - like I'm missing something to fully understand this (possibly a brain!). 

I'm in London, if that's different to where you are. 

I think the next step is to call the providers from the tool and go from there. And, yes, I'll see what I can find in the forum re fixed deals. Thanks again. It may not seem like you're getting through, but you are! ha. I appreciate your time with this. 

QrizB

torncurtain said:

I think I understand but I don't fully understand what the difference is between a SVR and fixed. But, if I've understood things correctly, to my mind if you're on a fixed tariff it doesn't change unless the supplier contacts you and says it's going up. Whereas with a SVR it goes up and down without you being notified in advance.

That's not quite right.

The variable rate can vary. Your supplier needs to give "reasonable notice" of any increase, and also cannot exceed Ofgem's capped rate. The cap acts as a limit on how high a variable rate can go, and is reviewed every six months. The current cap was set in August 2021 and applies from October 2021 to March 2022. The next cap was set in February 2022, and will apply from April 2022 to October 2022.

Fixed rates are exactly that; fixed from the date you join the rate until the date they end, which you are told as part of your contract when you sign up. However fixed rates aren't capped; the supplier can offer fixed rates at whatever level they like.

Currently, every fixed rate on offer is higher than the current cap and also higher than the new cap that applies from April.

What no-one knows (or can reasonably forecast) is what the cap will be from October 2022. It might be higher than some (or even all) of the current fixed rates, or it might not.

MWT

torncurtain said:

I think I understand but I don't fully understand what the difference is between a SVR and fixed. But, if I've understood things correctly, to my mind if you're on a fixed tariff it doesn't change unless the supplier contacts you and says it's going up. Whereas with a SVR it goes up and down without you being notified in advance.

A fixed tariff should not change before the end of the fixed term, so you are paying a higher price but there should be no changes in the tariff over the stated time period.

Do please note, this is not 'all you can eat', the cost per kWh and daily standing charge is fixed, but your bill is determined by the amount of energy you use, so the Direct Debit amount can change during the fixed period if you are using more or less than was originally estimated...

The SVT is capped by Ofgem and that is currently changed every 6 months, so it is due to go up April 1st, and will change again October 1st.

Ultrasonic

torncurtain said:

I'm in London, if that's different to where you are. 

It is. Hopefully the posts above have helped?

wild666

If your prepayment meter isn't a smart meter load it up with as much credit as possible to stay on the pre April rates as all suppliers, except Scottish Power, are honouring credit put on before 1/4/22 as bought before that date.