New annual cost of £4200!!! I need advice and a lie down!!!!!!!!!!!!!!!!!!!!!!!

pete2011

Hello all,

I'd very much appreciate your advice on our energy costs for the next year.

We've been quoted by our current supplier Eon the following.....(ignore pre-pay as that isn't relevant).

Our annual usage is estimated to be ELEC 3,462KWH and GAS 9148KwH. I really don't understand how the quotes vary between £2k up to £4k. From the very little I understand I think it's to do with either tying to a fixed rate (the higher quotes) which won't change regardless of increases in Jan, or agreeing to a variable rate (the lower cost quotes) and being at the mercy of further increases in Jan etc.

I know some folk are saying that it might not be wise to fix and stay on a variable but I'm really confused by all of this despite reading what I can. 

Any advice you can offer me would be hugely appreciated right now!

Robin9

Are you sure these annual consumptions ae correct ??   It would be more usual for the gas to ne 9148 and the electric to be 3462.. Are these estimates and not actuals ? Look at you bills and do your own calculations 

Are you using electric panels to top up the heating and not the gas boiler?

Alnat1

Looking at the quotes it's definitely the other way around.

pete2011

Alnat1 said:

Looking at the quotes it's definitely the other way around.

Hi changed now in the original post

pochase

Even the cheapest fixed tariff (Next Online V17 Renewal) is more expensive than the predicted new SVT from October.

It is not January that the first increase is coming, but there will be a second one in January.


Either stick with the SVT or have a look at 

https://www.greenenergyuk.com/sparklingenergy

Please be aware that the supplier is not cap regulated, so after the end of the fixed tariff their SVT might be more expensive, and you potentially might have trouble to change to another supplier on cap.

pete2011

Thanks for letting me know @pochase .  The SVT - that's a different name for the Standard Energy Tariff (the default tariff) yes? 
When you say I may have difficulty changing to another supplier 'on Cap' what do you mean. Sorry most of this is new to me.

pochase

Correct. SVT = Standard Variable Tariff

pete2011

pochase said:

Correct. SVT = Standard Variable Tariff

Thanks @pochase - and w hen you say I may have difficulty changing to another supplier 'on Cap' what do you mean? Sorry most of this is new to me.

Alnat1

Very few energy suppliers are taking new customers who want SVT rates because they are actually losing money on those rates. Some will accept new customers on Fixed rates as they are higher.

MaryNB

pete2011 said:

pochase said:

Correct. SVT = Standard Variable Tariff

Thanks @pochase - and w hen you say I may have difficulty changing to another supplier 'on Cap' what do you mean? Sorry most of this is new to me.

Suppliers are making on loss on customers who are on the SVT which is capped by Ofgem. Many are reluctant to take on new customers full stop, those that will are offering fixed tariffs that are much more expensive than the SVT and not subject to a cap. 

pete2011

Having just done a quick quote with GEUK against what Eon have offered me with their NEXT Online V17, I expect if the usage numbers are correct (and I need to double check them), I can save around £600 a year by going with GEUK......I think the gamble may be worth taking