Is it as black & white as going for the first option on the MSE Energy Club?

Ildhund

FrugaiMacDugal said:

My own wee spreadsheet for Dummies when comparing switch prices.

One small caveat to those embarking on this sort of calculation: Beware of the VAT! When prices are quoted to you, they will almost always (by law, I think) include the VAT, currently at 5% for domestic consumers on both unit rates and standing charges. If you look up prices in a supplier's tables, or find the ones on your bills, they are often exclusive of VAT. Yes, it's only 5%, but for the typical average household, it amounts to £84 a year. It's worth making sure that you're comparing like with like.

oldtrout

B0bbyEwing said:

Out of interest, those of you who run spreadsheets & can manipulate your exact numbers quickly & easily - what do you put in to it & how often?

Is it just your meter readings? And how often are you actually taking those readings? Daily? Weekly? Monthly? At any rate I assume the same on each measurement (such as always a Monday, always the 1st of the month etc)? 

I use one spreadsheet for comparison purposes.  FrugaiMacDugal's is a more simplified version than the one I use, but works just as well.  You could also add several more lines to their spreadsheet to show several comparisons at the same time.  I do comparisons using the MSE Cheap Energy Club.  I ignore the little known ones, and I focus on the one's with no exit penalty.  Then check the tariff info and enter those figures into the spreadsheet. (As mentioned above, always use the cost including the VAT when doing these comparisons.)

Another spreadsheet I have is a record of meter readings.  Usually recorded once a month when I send in my meter readings.  Octopus produce my bill for the 28th of each month, whether I send my readings in or not.  So that's the date I send my readings, so it's completely up to date.  I have a smart meter for gas, but the one for the electric has never worked, so I send my own readings for both.  Octopus has never made an error in quite a few years, and been very accurate when using an estimated electric reading when I've missed sending them the actual reading.

Sorry, I don't know how to screenshot a pic of my spreadsheet, but basically I have a column for the date, a column for the meter reading, a column for the difference between the previous reading and current (ie usage), a column for the number of days between the readings, and a further column showing the Average usage per day.  Over time, this information makes it easier to see your usage over any particular time.

Hope I've not gone on too much ... 

bob2302

B0bbyEwing said:

WiserMiser said:

Use your own figures derived from real meter readings 12 months apart.  

I don't keep track of my readings so can't accurately go to date X of one year & then the same date the following year. 

The need for precise 12 month usage is exaggerated. Errors have a greater effect on the estimated cost than they do on what you actually end up paying.

For a heating fuel, you really want several years of data anyway.