First Time Buyer and Energy Providers

jennjenn205

I have recently purchased my first home and I am starting to investigate energy prices and deals as I'm not sure what is out there and how it all works.  I have had a look online and it states that the energy provider for the house I have purchased is EGF energy.  Will I need to stay with this energy provider even though I did not chose them myself?  Or am I able to look around for a better deal? 

TheMilkmansDad

there are no better deals just yet. Maybe later in the year you can shop around

for now, take your meter readings and set up an account with - I assume - EDF.

Gerry1

You need to register with EDF and give them the opening meter readings  preferably setting up a Direct Debit as well. You are them free to choose your preferred suppliers.  They all charge much the same (Standard Variable Tariff) because there are very few fixed tariffs at the moment.

Gerry1

Ideally you should have taken the opening meter readings on the day of completion.  It's not unknown for them to be mis-read or too low, e.g. if there was a void period, so you could end up paying for earlier use by others.

macman

As above. Once registered with EDF you can start a switch immediately, but it's pointless at present, because there are no cheaper deals than SVT under the EPG. This may change after July 1st.
The only exception is if you have E7, in which case there is considerable difference between tariffs.

Gerry1

Make sure you send monthly meter readings unless the bills show 'Smart' next to the readings.

Scot_39

jennjenn205 said:

I have recently purchased my first home and I am starting to investigate energy prices and deals as I'm not sure what is out there and how it all works.  I have had a look online and it states that the energy provider for the house I have purchased is EGF energy.  Will I need to stay with this energy provider even though I did not chose them myself?  Or am I able to look around for a better deal? 

You have to register with EDF (?) as the current supplier (as used by previous owner or if new build often - but not always 100% succesfully set-up by builder).

Once registered you are then free to swap to a new supplier - paying them for any initial usage once switched.

Options for cost savings on standard tariff svt for single rate electric and gas are slim, as currently are fixes.

There are other options - like wholesale linked tariffs - but you would need to study.

There are also referrer codes- if you have family or friends with Octopus - there is £50 to be had  - and maybe others at other firms too.

As I say most standard big suppliers are following Ofgem and EPG unit discounts -  iirc Octopus charge maybe c4% less in standing charges too (can be arounf £300pa - so maybe £10-£12?).

(E7 or EV or other multirate tariffs have seen bigger price differences in last 6-9 months though - if any apply to your new home).

matelodave

Gerry1 said:

Make sure you send monthly meter readings unless the bills show 'Smart' next to the readings.

Even if you've got a smart meter you must check your bills regularly (ideally once a month) by reading the meter (not the indoor IHD) and ensuring that the readings on the bill are correctly using actual meter readings and not estimates. Mistake can and often do happen so the earlier you can identify them the easier it is to get them sorted out.

Trying to wade through six months to a year of guesstimated or miss readings can be a nightmare, so make sure you get into the habit of checking bills and meter readings regularly

Gerry1

Read the water meter if there is one and make sure you know where your own indoor stopc*ck is, ditto the company's one outside.  Also test that both will completely turn off the supply.

In a hard water area it's quite possible for the valves to become furred up and allow some flow even when screwed down fully. Don't wait for a burst or leak to find out there's a problem !