Jump from Sainsbury's fix over to Green Energy??

secret-stu

Hi,

Please excuse my lack of knowledge of this but here goes.

Im on a fix until the 3rd of Oct this year with Sainsburys energy (EON) which is 20.01p per KWH electric and 17.17p per day standing charge, I’m on electric only no mains gas here.

I have not got a clue how to guesstimate what that’s likely to go to once the fix ends .

Green energy are offering a fix until Sept next year of 39.93p  per p/KWH with 37.92p standing charge ,this would be approx £170 per month against the £110 I pay Sainsbury's (until OCT).

Its a lot higher unit rate than im paying at present but I assume that’s the real-world figures now not my fix set from last Oct??

So it’s a case of keep on the fix until Oct and take my chances or lose a couple of months on this cheaper rate and jump to Green energy.

Thanks in advance.

 

 

QrizB

secret-stu said:

Im on a fix until the 3rd of Oct this year with Sainsburys energy (EON) which is 20.01p per KWH electric and 17.17p per day standing charge, I’m on electric only no mains gas here.

I have not got a clue how to guesstimate what that’s likely to go to once the fix ends .

Our best guess for the October cap is about 44p/kWh and 45p/day SC, on average. Your £110/month (roughly 525kWh/month?) would become £260/month.

Green energy are offering a fix until Sept next year of 39.93p  per p/KWH with 37.92p standing charge ,this would be approx £170 per month against the £110 I pay Sainsbury's (until OCT).

Its a lot higher unit rate than im paying at present but I assume that’s the real-world figures now not my fix set from last Oct??

£170/month seems a bit low - I make it more like £220/month - but yes, that's the best fixed rate we know of. Every other option is likely to be more expensive.

So it’s a case of keep on the fix until Oct and take my chances or lose a couple of months on this cheaper rate and jump to Green energy.

Yes, that's your choice. And there's no guarantee that the Green fix will still be on offer in October.

As an aside, you seem to be a high user of electricity, 6300kWh/yr. How do you heat your home? Might you be better off switching to an E7 tariff?

secret-stu

QrizB said:

secret-stu said:

Im on a fix until the 3rd of Oct this year with Sainsburys energy (EON) which is 20.01p per KWH electric and 17.17p per day standing charge, I’m on electric only no mains gas here.

I have not got a clue how to guesstimate what that’s likely to go to once the fix ends .

Our best guess for the October cap is about 44p/kWh and 45p/day SC, on average. Your £110/month (roughly 525kWh/month?) would become £260/month.

Green energy are offering a fix until Sept next year of 39.93p  per p/KWH with 37.92p standing charge ,this would be approx £170 per month against the £110 I pay Sainsbury's (until OCT).

Its a lot higher unit rate than im paying at present but I assume that’s the real-world figures now not my fix set from last Oct??

£170/month seems a bit low - I make it more like £220/month - but yes, that's the best fixed rate we know of. Every other option is likely to be more expensive.

So it’s a case of keep on the fix until Oct and take my chances or lose a couple of months on this cheaper rate and jump to Green energy.

Yes, that's your choice. And there's no guarantee that the Green fix will still be on offer in October.

As an aside, you seem to be a high user of electricity, 6300kWh/yr. How do you heat your home? Might you be better off switching to an E7 tariff?

Yes we do use a lot ,we both work from home now ,me in a workshop so its on the high side ,we did heat last year (and the years before with electric rads (not storage) but we have just had oil central heating fitted so should bring the electric down quite a bit this winter (hopefully)

spot1034

Is there an exit fee on the present tariff? If so, you are getting quite close to the start of the 49 day (or whatever it is) period where you can move without paying an exit fee, so that's another factor. Also at that point you will probably get an offer for a renewal which probably (almost definitely) won't be as good as the Green tariff but might be slightly better than other alternatives that might be available at that time. 

rrl28

I'm on Sainsbury's 1 Year Fix and Reward v19 which ends on 24th September and it doesn't have an exit fee according to what is printed on my latest bill.

secret-stu

spot1034 said:

Is there an exit fee on the present tariff? If so, you are getting quite close to the start of the 49 day (or whatever it is) period where you can move without paying an exit fee, so that's another factor. Also at that point you will probably get an offer for a renewal which probably (almost definitely) won't be as good as the Green tariff but might be slightly better than other alternatives that might be available at that time. 

I called Sainsburys energy and no exit fee on this tariff they also offered a fix for a year of £279.00 a month (about 50p KWH, standing charge I can find.)

£279.00 isn’t sustainable for me so its looking more and more likely that ill move to GEUK and stomach the higher payment for the next couple of months .Would have liked to stay on the fix until the last second but I don’t want to wait till Oct and the GE fix has either been removed or gone up.

What_time_is_it

@secret-stu - The increased rates you will pay over August and September shouldn't be too painful. By the time the switch is set up you will have about 6 weeks only until the new price cap comes in. And you shouldn't use too much energy in August and September anyway. I worked out I'd pay about an extra £30-£35 in Aug & Sept by fixing with GE now. And then I should be saving £100s over winter.
Obviously this all depends on what the price cap actually is over winter, but it does look likely that it will be higher than what GE are offering right now.
Good luck with whatever you decide.

secret-stu

What_time_is_it said:

@secret-stu - The increased rates you will pay over August and September shouldn't be too painful. By the time the switch is set up you will have about 6 weeks only until the new price cap comes in. And you shouldn't use too much energy in August and September anyway. I worked out I'd pay about an extra £30-£35 in Aug & Sept by fixing with GE now. And then I should be saving £100s over winter.
Obviously this all depends on what the price cap actually is over winter, but it does look likely that it will be higher than what GE are offering right now.
Good luck with whatever you decide.

Many thanks 

worrywart_3

How stable are geuk? 

pochase

worrywart_3 said:

How stable are geuk? 

Nothing that might concern is known, but we will only know once they go bust or not.

Concerning for me is that they are still selling a fixed tariff way beyond everybody else to attract new customers. That might mean they hedged to much energy for winter.

Effician

pochase said:

worrywart_3 said:

How stable are geuk? 

That might mean they hedged to much energy for winter.

Looking at where they source their energy, as in 100% renewable & not carbon offset it may explain to a degree as to why they are cheaper at the moment & conversely why they were more expensive when fossil fuel was cheap.