Energy Comparison Figures. Do they add up?

RedLenses

I have been looking at new energy deals and all the big firms claim to offer better deals than I am on, but when I crunch the numbers their figures just don't add up. 
On uswitch I can match their numbers alternative suppliers but they show my supplier as being £140 per year more expensive that it is on my figures even though I am using the same calculation to match their alternative supplier. One example:
E.ON Next Next Gust 12m v28 claims to be £135/ year cheaper when it is actually £43/year more expensive on a like for like comparison. Something isn't right that's for sure.

Any Ideas?

MattMattMattUK

RedLenses said:

I have been looking at new energy deals and all the big firms claim to offer better deals than I am on, but when I crunch the numbers their figures just don't add up. 
On uswitch I can match their numbers alternative suppliers but they show my supplier as being £140 per year more expensive that it is on my figures even though I am using the same calculation to match their alternative supplier. One example:
E.ON Next Next Gust 12m v28 claims to be £135/ year cheaper when it is actually £43/year more expensive on a like for like comparison. Something isn't right that's for sure.

Any Ideas?

Ignore the headline figures and look at the unit rate and standing charge and work out your annual/monthly cost based on your own usage figures. 

mmmmikey

Hi

One "gotcha" that may have caught you out is that if your current tariff is a fix that runs out in 3 months or whatever, the comparison will assume you stay on your current fix until it ends then switch to your current supplier's SVR, which can throw the figures out. (At least that's the way it was for me last time I checked).

Of course, this may not be the case but it is worth checking  

Bigphil1474

Always check the unit rate cost and standing charge amount. The unit charge is more important generally. The difference between 50p a day standing charge and 60p a day is only £36 a year, but a 1p difference in rates for gas, for example, is over £100 a year for an average user. Are they giving you examples based on your current usage? As above, the assumed next 12 months you are gonna pay will be some on your current deal and the rest of the year on the SVR. Hence, look at the rates not the £p.

Bungle73

Why not use the Cheap Energy Club to do a comparison?

RedLenses

I am comparing like for like same usage and std chg for one year. The figures presented by USWITCH match my calculations for the competitor E.ON, but not for my supplier SO Energy. 
USwitch claim it's £1405 for the year for E.On and £1541 for SO Energy:


Here's my spreadsheet showing the calculation matching USWITCH for E.ON @£1405/PA and the same calculation on SO Energy comes to £1361/PA. USWITCH are claiming it SO Energy would be £1541/PA using the numbers below. They are £180 adrift on their website!

RedLenses

mmmmikey said:

Hi

One "gotcha" that may have caught you out is that if your current tariff is a fix that runs out in 3 months or whatever, the comparison will assume you stay on your current fix until it ends then switch to your current supplier's SVR, which can throw the figures out. (At least that's the way it was for me last time I checked).

Of course, this may not be the case but it is worth checking  

I'm comparing tariffs and usage over one year. The spreadsheet does not lie.

RedLenses

I have just done another check and So Energy do not even show in the comparison table even though there is a tariff that is £20/year cheaper than my existing plan.

RedLenses

RedLenses said:

mmmmikey said:

Hi

One "gotcha" that may have caught you out is that if your current tariff is a fix that runs out in 3 months or whatever, the comparison will assume you stay on your current fix until it ends then switch to your current supplier's SVR, which can throw the figures out. (At least that's the way it was for me last time I checked).

Of course, this may not be the case but it is worth checking  

I'm comparing tariffs and usage over one year. The spreadsheet does not lie.

I thnik you're right, as I have put in different end dates such as a year hene and there is nothing cheaper when I do that. They are making out they are comparing like with like when they aren't. Very misleading.