Sainsbury 1 Year Smooth Renew v21 any good?

tsar76

I'm confused if this is worth moving to when my fix finishes in a few weeks. I've tried using Martin's calculators but I'm still unsure if this will end up cheaper with the additional price increases over the next 12 months

1 Year Smooth Renew v21

Electric

Unit rate	66.87555p per kWh
Standing charge	44.75p per day

Gas

Unit rate	16.7664p per kWh
Standing charge	27.22p per day

Astria

It'll be more expensive October - December, but might be cheaper in January or April next year.

How much gas and electric do you typically use between October - December?

Calculate the amount with the new cap published today and your above figures and work out how much it's going to cost you to gamble better rates for next year.

[Deleted User]

Might be, might not.

How much do you value price certainty and how is your trust in the predictions for next year's prices?

Look at how much you use in each month, and what price you guess you would be paying in each month.  We can't tell you what to do.

Capt_easychord

Same boat here. I signed up to Smooth Renew v21 (oh the cruel irony in that name) and am weighing up whether to exercise my right to change my mind within 14 days. I think essentially it will cost me an extra £50 per month from Oct - Dec compared to the price cap. If there's another steep rise in Jan and Feb it'll probably be a cost effective fix, but if there's some dramatic political intervention such as the cap being frozen then it'll be wasted money. 

[Deleted User]

Personally, I think the chance of steep cap rise in Jan (and Apr) is high and that the chance of a frozen cap or a large amount of extra help is low.

That's a personal opinion though and I would encourage everyone to make their own judgement.

Capt_easychord

You might be right. My 14 day cooling off period will still apply when the new PM takes office so I think I'll wait to see what's announced next week. 

tux900

Check the exit fee as there wasn't one for v20 so you're not just limited to the 14 day cooling off period in practice. 

Yawn

My rough math from when I renewed with Sainsbury's is that their latest fix basically mirrors that of Eon Next (which they are part of) and Martin Lewis still recommends the Eon deals. Maybe Sainsbury is a bit niche, but it would be nice if they could be added to the analysis page. 

barker77

Eon used to allow you to move to standard tariffs even from fixed deals that had exit fees - not sure if sainsburys is the same? 

Capt_easychord

Thanks. There is no exit fee. One other advantage of sainsburys is that as a subsidiary of a huge supermarket they're hopefully unlikely to go bust. Or is that naive these days?! 

Astria

Capt_easychord said:

Thanks. There is no exit fee. One other advantage of sainsburys is that as a subsidiary of a huge supermarket they're hopefully unlikely to go bust. Or is that naive these days?! 

Sainsbury's Energy is actually EON, just white labelled. You can (or could a few weeks ago) even sign into EON's portal with your Sainsbury's account data as it's the exact same system with just slight changes for branding.