My Cheap Energy Club result is always rubbish

rufford155

I have figured it out and the bottom line is that the MSE Cheap Energy Club results are WRONG !
The reason is that they are using the wrong unit rates for my current tariff.
They say I will pay 1,068 this year but I will actually pay 1,180 - that's an error of 112.
I have no idea where/how they got the rates but they are completely different to the current cap for my region (NW).
My Scottish Power rates equal the price cap exactly and MSE does publish these correctly on the website.
They also say that on the EDF offer I will pay 1,116 this year, which is correct.
They should quote extra cost of 1116 minus 1068 which is +48 but they say +27, so that's wrong too.
But in actual fact I could SAVE £65 by switching to the EDF offer.
So the club results are wildly misleading, all because they used the wrong rates.
The moral of the story is - work it out yourself !
I will post my calculations in the next post - I hope they are understandable.

( And I will send this to Beth at the Cheap Energy Club)
  

rufford155

		CURRENT		EDF		MSE
		SCOT POW		SIMPLY		FIGURES
		STANDARD		FIXED		ARE
		ONLINE		FEB 26		WRONG
GAS KwH		7500		7500		7500
RATE		6.256		6.254		5.398
COST		469.20		469.05		404.85
DAYS		365		365		365
RATE		31.75		24.885		31.595
COST		115.89		90.83		115.32
ELEC KwH		1600		1600		1600
RATE		25.355		24.434		22.586
COST		405.68		390.94		361.38
DAYS		365		365		365
RATE		52.03		45.15		51.188
COST		189.91		164.80		186.84
TOTAL =		1181		1116		1068
SAVING =				65

GingerTim

rufford155 said:

QrizB said:

born_again said:

If you want to make ML aware, & he no longer owns this site, he sold it off for 6 figures. Then post on his X account.

Eight figures, if memory serves?

Either way, it's no longer his train set.

But he still writes on the weekly email 

I have this bridge for sale...

born_again

rufford155 said:

I have figured it out and the bottom line is that the MSE Cheap Energy Club results are WRONG !
The reason is that they are using the wrong unit rates for my current tariff.
They say I will pay 1,068 this year but I will actually pay 1,180 - that's an error of 112.
I have no idea where/how they got the rates but they are completely different to the current cap for my region (NW).
My Scottish Power rates equal the price cap exactly and MSE does publish these correctly on the website.
They also say that on the EDF offer I will pay 1,116 this year, which is correct.
They should quote extra cost of 1116 minus 1068 which is +48 but they say +27, so that's wrong too.
But in actual fact I could SAVE £65 by switching to the EDF offer.
So the club results are wildly misleading, all because they used the wrong rates.
The moral of the story is - work it out yourself !
I will post my calculations in the next post - I hope they are understandable.

( And I will send this to Beth at the Cheap Energy Club)
  

Exact energy prices depend on where you live and what you use. That's why a comparison is crucial so you can find your bespoke price. 

EssexHebridean

rufford155 said:

		CURRENT		EDF		MSE
		SCOT POW		SIMPLY		FIGURES
		STANDARD		FIXED		ARE
		ONLINE		FEB 26		WRONG
GAS KwH		7500		7500		7500
RATE		6.256		6.254		5.398
COST		469.20		469.05		404.85
DAYS		365		365		365
RATE		31.75		24.885		31.595
COST		115.89		90.83		115.32
ELEC KwH		1600		1600		1600
RATE		25.355		24.434		22.586
COST		405.68		390.94		361.38
DAYS		365		365		365
RATE		52.03		45.15		51.188
COST		189.91		164.80		186.84
TOTAL =		1181		1116		1068
SAVING =				65

Those bits in bold tell the story - the EDF deal is cheaper in all cases on the unit rates and standing charges, therefore you were always going to save money on it. 

When comparing best to cut to the chase, ignore the “total cost” and just drill down straight to the actual rates, as those are what will tell you whether you are looking at a good deal, or a bad one! (And this is why I was asking for unit rates and SC’s before!) 

rufford155

But you are missing my point - that the Cheap Energy Club got it WRONG.

They said £27 extra to pay when I could save £65 !!!!!

I am angry that they have misled me for months.

rufford155

born_again : Why do you keep telling me what it's obvious I already know ?

EssexHebridean

So what rates does the cheap energy show for your current tariff? And have you definitely got your address details etc in there so thst the information is specific not just generic? 

rufford155

EssexHebridean said:

So what rates does the cheap energy show for your current tariff? And have you definitely got your address details etc in there so thst the information is specific not just generic? 

The rates they used are in the MSE column, the third one, in my table.

As I said, they don't correspond to anything I can find on the MSE main website - or anywhere else.

The electricity kWh rate is particularly low which no-one currently has a chance of beating !

Everything else seems right including my address and the tariff name.

QrizB

rufford155 said:

The electricity kWh rate is particularly low which no-one currently has a chance of beating !
Everything else seems right including my address and the tariff name.

If my spreadsheet is correct, both rates - gas and electricity - seem to be lower han the SVT has been at any time since the energy crisis started to bite in April 2022.