2 year fix coming to an end - what now?

Spoonie_Turtle

VXman said:

bristolleedsfan said:

I would be astonished if UW pay UW partners £250 for someone switching to standalone variable tariff,  UW £50 each refer a friend person switching has to take at least 2 services.

https://uw.co.uk/partner

There may be some small print but I was just reading this which is on the link you shared.

You originally said your mate told you he could give you that much off.

bristolleedsfan

VXman said:

bristolleedsfan said:

I would be astonished if UW pay UW partners £250 for someone switching to standalone variable tariff,  UW £50 each refer a friend person switching has to take at least 2 services.

https://uw.co.uk/partner

There may be some small print but I was just reading this which is on the link you shared.

Key word I would have thought for £250 payment is "services" with S on the end.

Taken from link I posted which has been selectively screenshotted since 

bristolleedsfan

VXman said:

GingerTim said:

Sounds like a pyramid scheme.

They are offering the best std varible rate for me at the moment 

Maybe I should have elaborated to say that £5 per year dual fuel cheaper than average competitor price cap is not best SVR rate, might not be second best SVR rate available.

QrizB

VXman said:

GingerTim said:

Sounds like a pyramid scheme.

Have you not heard of Utility Warehouse before?

Yes, we've heard of Utility Warehouse. It's multi-level marketing, which is barely distinguishable from a pyramid scheme.

VXman said:

It's even discussed on Martins Money Saver Website
https://www.moneysavingexpert.com/utilities/does-utility-warehouse-stack-up-/

... where it's described as multi-level marketing and where they point out that, in order to get the cheap tariff you also need to take other services from UW.Services that you can get elsewhere for substantially lower cost.

You need to look very carefully at the total cost of the services you take before making any decisions.

VXman

QrizB said:

VXman said:

GingerTim said:

Sounds like a pyramid scheme.

Have you not heard of Utility Warehouse before?

Yes, we've heard of Utility Warehouse. It's multi-level marketing, which is barely distinguishable from a pyramid scheme.

... where it's described as multi-level marketing and where they point out that, in order to get the cheap tariff you also need to take other services from UW. Services that you can get elsewhere for substantially lower cost.

You need to look very carefully at the total cost of the services you take before making any decisions.

Not what I understand as a 'Pyramid Scheme'. I totally get the fact that they offer better energy deals for taking many services (and those aren't the best) but as I said above this is not my intention. Their Broadband, Heating Cover, Mobile phone services do not suit me - I have better deals elsewhere. However even without all those their Energy is still the cheapest I have found so far and I have searched thoroughly. Add to that the discount my friend, who is a partner, said he would pass on to me it makes it the best deal so far (bar the get out fee). I have until 30/9 to move so I will keep looking.

VXman

bristolleedsfan said:

Maybe I should have elaborated to say that £5 per year dual fuel cheaper than average competitor price cap is not best SVR rate, might not be second best SVR rate available.

For me - and I have done many quotes based on actual KWh use - it's quite a bit cheaper (even without their extra services), £14 per month cheaper than the closest alternative which is EDF's SVR. Of course this may change with the next price cap adjustment.

Do you have suggestions of better deals? So far I have only found SO energy, EDF and UW to be contenders.

bristolleedsfan

VXman said:

bristolleedsfan said:

Maybe I should have elaborated to say that £5 per year dual fuel cheaper than average competitor price cap is not best SVR rate, might not be second best SVR rate available.

For me - and I have done many quotes based on actual KWh use - it's quite a bit cheaper (even without their extra services), £14 per month cheaper than the closest alternative which is EDF's SVR. Of course this may change with the next price cap adjustment.

Do you have suggestions of better deals? So far I have only found SO energy, EDF and UW to be contenders.

Savings offered by Fuse energy is just for electric, cheaper SC as well as cheaper unit rate https://www.fuseenergy.com/

Gas would either stay where it is or switch elsewhere.

Octopus Energy discount standing charge for both fuels which in my region adds up to about £15 per year + as others say can get £50 credit switching any fuel to them if you know someone who is already with them ......

Do you use a lot more than 2900 E /12000 gas per year - value tariff where no other services are taken states £5 per year saving based on those usages. Price cap is currently £2074 per year, puzzling why UW state £5 cheaper than Octopus when Octopus discounting SC reduces price cap for all flexible customers below £2074

QrizB

I can confirm that, in my area, online quotes from Fuse are cheaper than UW for both unit rate and daily standing charge.

Spoonie_Turtle

In my area, Octopus is the same for unit rate (30.72p) and lower on standing charge (42.01p vs 42.969p).  Octopus are offering a fix that is lower on both (28.82p/kWh, 42.01p/day).

[Fuse is 30.25p/kWh and 30.99p/day.  I don't think I trust them any more than I'd trust UW though, yet.]

born_again

Dolor said:

bristolleedsfan said:

Dolor said:

Bigphil1474 said:

I'm nearly in the same boat - 2 year fix ends in October. I think we'll go for a 1 year fix so we know what we are paying for the year. Hopefully it won't be too costly, but equally hopefully prices will start to come down.

What makes you think that? The UK gets a lot of its gas via LNG tankers. China’s industries are opening up and they are looking for increased LNG supply.  Market pundits are not predicting that the market will fall anytime soon. We are living in a very volatile World when it comes to energy.

3 days ago ................

Short term price changes are to be expected when supply exceeds demand and suppliers jockey for market position. No one appears to suggesting that we will see major falls in energy prices that people are hoping for. Given that the Ofgem Cap is based primarily on looking in the rear view mirror, then I would expect the Cap to be lower in October. 

The worry for January is the present LNG crisis. I see that LNG prices have risen today in the USA. That said,  I am stilling waiting before fixing given the high exit fees on most fixed tariffs. Also, I don’t see fixed prices going much below the predicted October Cap. 

In making any predictions, I could of course be totally wrong as a single event such as a sabotaged interconnector; a very cold Winter or high Chinese demand for LNG could cause gas prices to rocket.

Price might be being driven by the Panama canal has limited the number & size of ships a day. LNG tankers are one that are too big to go through due to local droughts & limited water for locks. Currently there are hundreds of ships waiting to go through & the ones that can't get through have a much longer trip.