Changing providers/tarriffs, over the phone or website clicks?

quartzz

I've just moved into a new property, the previous owners were on octopus energy, but the actual tarriff numbers don't seem to be all that good (67p/day standing charge, 24.07/kWh), which makes me guess that they hadn't checked on their rate recently. or their tarriff was suitable for them, but not for me.

I've done some online searching around, and found that I can probably improve on this. sites like uswitch seem to be able to do it with a mouse click?

the question;

do people still actually phone around and see what deals they can get over the phone? or is it a case of "the deals are on the website, that's what's on offer"?

many thanx.

Exodi

quartzz said:

do people still actually phone around and see what deals they can get over the phone? or is it a case of "the deals are on the website, that's what's on offer"?

I'd say the latter. The idea of phoning around to get the best deal feels alien to me as a millennial, but appreciate this was probably how things were done only a decade or two ago!

Sites look uswitch are a good place to start.

quartzz

sure. one of the reason I ask is because last time I was car buying and asked if there were any discounts possible, it was a case of "the price is the price". I'm just putting on my Martin Lewis hat and imagining if he would say "it's worth a 5 minute call to see if you can grab something", but he's equally likely to say "it's all done on the website now"

MikeJXE

I helped to switch my friend last Wednesday, checked the best deal on his usage with uswitch and chose Octopus 12M fix 

The referral from me helped with the cost 

Took literally minutes and the switch happened Friday 

Referral bonus paid out Monday 

molerat

quartzz said:

I've just moved into a new property, the previous owners were on octopus energy, but the actual tarriff numbers don't seem to be all that good (67p/day standing charge, 24.07/kWh), which makes me guess that they hadn't checked on their rate recently. or their tarriff was suitable for them, but not for me.

To be honest those don't seem unreasonable.  Until very recently there was little point comparing tariffs as they were all much the same, even fixes were not any cheaper.  The boat for cheap fixes sailed a couple of weeks ago and Octopus for me are showing 59.928p/24.944p for the 12m fix and 59.928p/24.955 for the variable.  Eon Next are showing the 2 cheapest tariffs but they are playing games with the unit rates and SC so you need to be careful and be certain of your use as there is only £3 between them at 12000/2700 but different usage patterns could change which is cheapest.

MikeJXE

A fix is obviously a gamble 

Octopus 12M fix is free exit so a win win

All the others I looked at had an exit fee ranging for £25 per fuel to £100 per fuel (BG) 

quartzz

molerat - sure thanks. the standing charge is the main thing that stuck out for me. there are a few tarriffs giving 60p per day rather than 67p (a moderate £36 per year saving) and a few tarriffs which give 1 or 2p cheaper kWh. I'm on variable at the moment (or, the property is currently on variable) so am wondering if fixed rate might be an improvement.

even octopus's current actual standing charges are 62p/day, rather than the 67p/day it's on at the moment. in all honesty, the cheapest octopus I've found at the moment is £626, which is only £20 more than the actual cheapest from any other supplier. but with that £36 standing charge change, that changes £626 into £660 - which is more than £600

ps my maths is approximately right (I think?), give or take £10 ish

quartzz

MikeJXE said:

A fix is obviously a gamble 

Octopus 12M fix is free exit so a win win

All the others I looked at had an exit fee ranging for £25 per fuel to £100 per fuel (BG) 

how much of a gamble do you think? the yearly cost I'm getting for estimated usage is about £615 per year from a "good" estimate. I mean if a variable which moved down rather than up cost me say £590, I'm sure I could live with £25 lost for the sake of it being fixed. are prices "more likely" to go up rather than down? (that's what I'd guess) so a variable could realistically end up costing more like £650 up from £615?

(or what sort of numbers are we talking, £15 variable increase or £50 variable increase per year on £615?

also sub question. are fixed rates really.....fixed? or do the TC's have a clause which say "yeah, actually we could increase this to £640 per year from £615, even on fixed). or......for example £800 from £615, even on fixed

double_dutchy

quartzz said:

also sub question. are fixed rates really.....fixed?

Yes - the unit rates and standing charges are fixed for the duration of the fixed tariff. If you use more energy, of course, your monthly payments can go up

quartzz

double_dutchy said:

quartzz said:

also sub question. are fixed rates really.....fixed?

Yes - the unit rates and standing charges are fixed for the duration of the fixed tariff. If you use more energy, of course, your monthly payments can go up

absolutely, it's just the standing charges and the rates which I wouldn't be surprised if "somehow" increased during the fixed rate. I'm thinking that variables are more likely to increase rather than decrease? so I'm looking favourably on the fixed rates at the moment

if the actual difference was £620 estimated use (on fixed for eg) to £590 estimated use (on variable for instance) I'm sure I could absorb £30. if it went from £650 to £550 I might be slightly more peeved at £100

born_again

quartzz said:

molerat - sure thanks. the standing charge is the main thing that stuck out for me. there are a few tarriffs giving 60p per day rather than 67p (a moderate £36 per year saving) and a few tarriffs which give 1 or 2p cheaper kWh. I'm on variable at the moment (or, the property is currently on variable) so am wondering if fixed rate might be an improvement.

even octopus's current actual standing charges are 62p/day, rather than the 67p/day it's on at the moment. in all honesty, the cheapest octopus I've found at the moment is £626, which is only £20 more than the actual cheapest from any other supplier. but with that £36 standing charge change, that changes £626 into £660 - which is more than £600

ps my maths is approximately right (I think?), give or take £10 ish

Are the standing charges for the same area?

https://www.ofgem.gov.uk/get-energy-price-cap-standing-charges-and-unit-rates-region