Comparing standard variable rates

MoneySaverKev

Anybody tried comparing SVRs between energy companies?

I'm with EDF for gas but their customer service is driving me nuts. Looked to try for a switch but all the TILs seem to have disappeared? 

Found one website claiming that Ovo is charging 11.11p per KwH and 27.52p standing charge. The standing charge is about the same but the unit price is 7p per KwH.

That makes nearly £400 difference a year. 

Doesn't seem to be much transparency going on at the moment. Any ideas?

elsien

I don’t think there’s many accepting new customers onto the SVR at the moment anyway. Octopus might be? 

stewie_griffin

The majority of suppliers won’t be taking on new customers at the moment and the ones that are probably won’t do so in to their SVR tariff. There may be a couple of exceptions however the unit prices and standing charge will be nearly identical across the board. I suspect you’re accidentally comparing a fixed tariff with an SVR.

Spoonie_Turtle

Octopus' SVR  https://octopus.energy/documents/122/Flexible_Octopus_April_2022__PDF_VAT.pdf
Also all their tariffs for your area can be found here https://octopus.energy/tariffs/ (don't press 'get a quote', put your postcode in and scroll down).

[No guarantee they'd take you on if you wanted to switch, but if they were to accept you, do make sure to get a referral code for £50 credit.  (I don't know which board we're allowed to post them on.)]

QrizB

MoneySaverKev said:

Anybody tried comparing SVRs between energy companies?

For gas and single-rate electricity, the SVRs are pretty much identical between suppliers.

If you have multi-rate electricity (Economy 7 or similar) there is some variation but there aren't many switching options.

MSE_James

Spoonie_Turtle said:

[No guarantee they'd take you on if you wanted to switch, but if they were to accept you, do make sure to get a referral code for £50 credit.  (I don't know which board we're allowed to post them on.)]

For clarity, sharing of referral codes on the forum or via PM has not been permitted here for more than a year now

superkoopauk

QrizB said:

MoneySaverKev said:

Anybody tried comparing SVRs between energy companies?

For gas and single-rate electricity, the SVRs are pretty much identical between suppliers.

If you have multi-rate electricity (Economy 7 or similar) there is some variation but there aren't many switching options.

Except Utility Warehouse who are quite a bit cheaper IF you take the other services.  But if you are risking that then you might as well take their fixed deal.

QrizB

I've never found UWs other services to be competitive. The extra cost for telecoms would exceed any savings.

The maths might work better for other households with different needs.

Shedman

QrizB said:

I've never found UWs other services to be competitive. The extra cost for telecoms would exceed any savings.

The maths might work better for other households with different needs.

Not sure if they are still doing it but UW did have a scheme that if, say, you took utilities (and they do seem to allow take just gas or electric and that qualifies), mobile and broadband, you could submit your latest previous provider bills (plus any price increase notifications received) for some or all of those services and if less than what UW were charging they would give you a credit for the difference for 12 months (or £50 minimum) so that offsets the increases in mobile and broadband cost to an extent (think it was called Nobody Loses or Everyone Wins or something like that).   Worth reading through all the FAQs and Help pages as these sort of offers are, shall we say, a bit opaque.

UW is certainly an oddity and, as QrizB suggests, not right for everyone and you do need to 'do the math' for the whole package and apply some what-if scenarios.   For gas only the very low SC is quite a benefit in summer when using hardly any gas and that also helps offset the cost of the other services you need to take out.