Sainsbury's Energy Renewal. Confused.

tux900

Hmmm... I'm in the same boat having received my renewal email today (I don't think I'll ever get over signing up for the one year fix and not two!!).

My annual usage is:

Gas: 8049 kWh
Elec: 3481 kWh

Currently paying (on the one year fix until October): £1188/yr (£99/mth)
SVR being offered by Sainsburys at present: £1850/yr (£154/mth)
1yr Smooth Renew v20 being offered (to take me to Oct '23): £3589/yr (£299/mth)

I'm left wondering what to do... How does my usage compare to the 'average' so that I can compare with the current and predicted price cap values?

Incidentally, I note that the 1yr fix has no exit fee so does this mean I could switch away to the SVR if it turns out to be lower (even without relying on the 14 day cooling off period being discussed above)?

tux900

GreenCustomer said:

I've opted for Smooth Renew v20 too. Did the sums for projected SVT increases vs Smooth Renew tariff based on annual use and Smooth Renew comes out best...

If you've still got your figures would you mind sharing them for comparison? I'm leaning towards doing exactly what you've done but could do with some comparisons for a bit of confidence... Need all the hand-holding I can get to proactively sign up to a £299/mth DD deal (from £99!) even if it's looking like the least-worst option as things stand!

drlabman

Same quandary here and pretty much exactly the same numbers.  I can't believe I'm considering the SRv20 as a good deal!

tux900

Painful isn't it. Sickening in fact.

Does anyone know how long the SRv20 would stick around? Only got my email today; how long does the offer (to me) stand for?

drlabman

tux900 said:

Painful isn't it. Sickening in fact.

Does anyone know how long the SRv20 would stick around? Only got my email today; how long does the offer (to me) stand for?

That's the million dollar question.  I received my email a couple of days ago.

tux900

I think I'm going to jump.

You first though... 

GreenCustomer

@tux900


These were posted earlier by @pochase. (On this thread https://forums.moneysavingexpert.com/discussion/comment/79416228#Comment_79416228  )  (Thanks).
I used the figures from these (Spreadsheet with last year's usage)

sienew

tux900 said:

Painful isn't it. Sickening in fact.

Does anyone know how long the SRv20 would stick around? Only got my email today; how long does the offer (to me) stand for?

I got the previous v19 offer, it seemed to be around for about 5 days and ended the day after I signed up, it was then replaced by the more expensive v20.

drlabman

sienew said:

tux900 said:

Painful isn't it. Sickening in fact.

Does anyone know how long the SRv20 would stick around? Only got my email today; how long does the offer (to me) stand for?

I got the previous v19 offer, it seemed to be around for about 5 days and ended the day after I signed up, it was then replaced by the more expensive v20.

Time to jump then.

tux900

Thanks GreenCustomer.

I've just pulled the trigger on the SRv20 1yr fix. Feel sick now. Off for a lie down (and I'll be switching everything that's on OFF along the way!).

Aside from the 14 day cooling off period to take me beyond the 26th Aug cap announcement there's no exit fees on the SRv20 so I've got that to fall back on if the capped SVR ends up taking an unexpected nose dive!