Crunch time - end of cheap Sainsbury's fix

artyboy
artyboy Posts: 822
First Anniversary First Post Name Dropper
Forumite
It had to happen - my 2 years of paying 20p/kWh for Electricity and 3.8p/kWh for gas are coming to an end on the 1st November.

Don't all cry for me at once  :D

But seriously... need to make a decision, do I go onto one of their fixes (not attractive at all), do I go SVT (which is 27.9p/kWh electric, 6.78p/kWh gas) - maybe... if I cross my fingers that the forward view on cap rates is accurate...

Or... I have seen another variable tariff on Uswitch for "Home Energy" that would shave about 5% off that - their rates are 26.5p/kWh electric, 6.44p/kWh gas.

I'm a high user so not bothered they have slightly different standing charges.

Anyone heard of Home Energy? I've had my fill of SoLRs over the years so if it's flaky, I'll probably just stick with Sainsbury's SVT...

For if anyone has any other suggestions I'd appreciate it - as my monthly cost is about to go from £340 to £510 a month! I can afford it, but would prefer to mitigate it as much as possible...
«1

Comments

  • Netexporter
    Netexporter Posts: 1,043
    First Post Name Dropper
    Forumite
    If you have a smart meter I'd look at Octopus TOU (time of use) tariffs. Even without a smart meter Octopus is by far the best supplier in the market.
  • markin
    markin Posts: 3,723
    First Anniversary Name Dropper First Post Photogenic
    Forumite
    edited 1 October 2023 at 2:30PM
    £4080 on your Fix is not a low user. 

    Octopus Tracker gives the best prices but not security if prices rise, You have to be on the ball and jump to the SVR if needed.

    https://mysmartenergy.uk/Tracker/Southern-England
  • artyboy
    artyboy Posts: 822
    First Anniversary First Post Name Dropper
    Forumite
    No smart meters I'm afraid. Not for any 'tin foil hat' reasons, but when we last agreed to have them changed, the visiting engineer warned that there was an appreciable chance that the pilot light in the boiler (a 26 year old Mexico floor standing veritable tank of a machine) wouldn't be able to be restarted.

    Needless to say, that would then have been our problem/cost to fix. It's possible that it wasn't a major risk and the engineer was just covering his backside, but Mrs Arty was less than impressed, and so that was that. 

    I think Sainsbury's SVR is probably the path of least resistance for now, especially as we have a £500 credit built up. And I've never heard of 'Home Energy'...
  • RelievedSheff
    RelievedSheff Posts: 11,125
    First Post First Anniversary Name Dropper Photogenic
    Forumite
    An easier win than trying to save a few quid by switching supplier might be to find ways to reduce your energy consumption.

    Your bills are massive and as big as a £500 credit may seem that is only one month of your usage, you should be looking at between two and three times your monthly usage to come out of winter without a big debit amount.
  • Netexporter
    Netexporter Posts: 1,043
    First Post Name Dropper
    Forumite
    Yes. That boiler is probably less than 70% efficient.
  • artyboy
    artyboy Posts: 822
    First Anniversary First Post Name Dropper
    Forumite
    Well I was considering hiring a thermal imaging camera once winter sets in, but given we have a big 50s house with a LOT of large windows with old double glazed panels, it's unlikely to tell me much I don't know. That is to say there will not be a cheap fix here. At least the loft is well insulated, having been converted a few years back. 

    Clearly the boiler is rattling along inefficiently and it needs changing at some point. In the past it was cheap gas plus asbestos lagged pipes just above the boiler that pushed that job to the back burner (ahem...). We've also got a total mish mash of old and new radiators and pipework, some of which is unlagged and buried in walls (nice warm walls, but suspect not an efficient way of heating the house!). 

    So overall a bit concerned that replacing a boiler could lead to a lot more work being identified as needed to really get the benefit we're looking for... but maybe it's finally time to bite the bullet.
  • the visiting engineer warned that there was an appreciable chance that the pilot light in the boiler (a 26 year old Mexico floor standing veritable tank of a machine) wouldn't be able to be restarted.

    The use of the word engineer probably overstates the qualifications of the installer. Installers go through a training/qualification process that deems them competent to fit smart meters. My guess would be he looked at the boiler and took fright at the prospect of having to re-ignite a pilot light. 

  • markin
    markin Posts: 3,723
    First Anniversary Name Dropper First Post Photogenic
    Forumite
    If the boiler was a fave for a local installer the could still be some around in the area he covers, so I'm not sure I would discount what he said.
  • jonnypb
    jonnypb Posts: 315
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    I'm in the same situation and coming off the cheap Sainsburys deal.

    I've done some comparisons and I'm toying between the Sainsburys Smooth Renew Fix v2 for 12 months and one of the variable tariffs with Sainsbury's or the Octopus Flex (that's all that seems to come up on the Octopus site)

    There's hardly anything between the quotes based on my usage, so I'm tempted to just fix for 12 months.  I've looked at the Cornwall Insights article and if I'm reading it correctly they predict the standing charges to rise from Q2 2024, but the unit costs will drop slightly in Q2, although the drop with the unit costs would be nothing significant that would make an impact on my usage, especially as they expect a rise in the unit cost for Q1 2024.
  • Eldi_Dos
    Eldi_Dos Posts: 1,535
    First Anniversary First Post Name Dropper
    Forumite
    edited 25 October 2023 at 8:41PM
    the visiting engineer warned that there was an appreciable chance that the pilot light in the boiler (a 26 year old Mexico floor standing veritable tank of a machine) wouldn't be able to be restarted.

    The use of the word engineer probably overstates the qualifications of the installer. Installers go through a training/qualification process that deems them competent to fit smart meters. My guess would be he looked at the boiler and took fright at the prospect of having to re-ignite a pilot light. 

          Is it the installers job to re-ignite pilot lights, I would have assumed it was outwith their remit.
Meet your Ambassadors

Categories

  • All Categories
  • 341.8K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 233.9K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards