Octopus or Eon?

diddlysquat23

Moved into a new property Friday and the old supplier is Eon. Wanted to stick with British gas but they wanted an estimate of £300 a month.
When researching the best deal, it was octopus who estimated £188 a month but have explained if the usage goes up or down then they will just adjust the direct debit. I’ve had a call from Eon to try to get me to stay with them and they’re saying it’s only £94 a month. He said they’re the only transparent supplier no hidden costs etc etc. Being honest this does sound very cheap for a 4 bedroom house (which is what they’ve estimated it based on). I’ve heard really good things about octopus but just wanted any further advice or opinions please. Thanks😊.

Exodi

You need to know the unit rates.

Both of them are just guessing about your usage, whoever assumes the lowest usage will likely appear cheaper.

Brie

Did the previous owner leave any energy bills behind? This would give you an idea of what the real costs of the property should be rather than just guessing. Alternative is to look at what you used where you lived previously, adjust for the different size of the place and then see if you can figure what the cost would be over a year with the tariffs on offer.

IOWJJBTM2025

If you are just looking at single rate tariff then just compare the unit rates and standing charges.

Are the rates fixed or variable? There is a likely price hike coming soon if variable.

If you are looking at complex time of use tariffs and you have only just moved in, it may be very difficult to estimate. Especially if you already have Solar and are looking for feed in tariffs.

victor2

https://forums.moneysavingexpert.com/discussion/6666050/octopus-or-eon

You're comparing apples with oranges, as they say.

Go onto a comparison site and use the typical estimates of annual usage for a house your size (assuming you haven't got solar panels or similar). Then see how your preferred suppliers come out. Those will be costs based on the same usage. That won't be your actual usage, but at least you'll be comparing like with like, and can make a more informed decision. Look at fixes too, they might be a little more at first, but will protect you against any increases for the duration of the fix. It is pretty much anyone's guess what future energy prices will be.

diddlysquat23

thanks everyone will definitely take everything on board

Rodders53

EPC for the house will have guesstimate of energy needed - although never accurate - but may be as good as any other to enter into the comparison sites for kWh per annum.

Or use the figures for your old home's annual kWh use if a similar size property.

WiserMiser

You're doing it all wrong. Forget estimates and DD amounts, make a guess at your likely annual kWh consumption. Visit a few comparison sites and compare the annual costs.

Consider whether you want to gamble with a variable tariff which may rocket in price or prefer the certainly of a fixed tariff but which may work out more expensive if the Gulf settles down soon.

Make sure your supplier gets monthly readings.

BG are best avoided, their customer service is dire.

Newbie_John

You pay for what you use.

As you're new - you don't know and neither does the electricity provider - all the quotes are guesses based on the house size.

Previous tenants could have paid £500 a month as well as £50 - we don't know what they were doing.

Even if you compare rates you will realise they are all almost the same +/-5% and keep changing every 3 months unless you get a fixed deal.

So personally, it doesn't matter who you choose - all almost the same.

Scot_39

Go variable at any of your choice for now - and take time to research the best deal - you dont want looked into a bad 12m+ deal - in a rush at a new property.

The monthly DD amounts are likely - if that far apart - based on completely different assumptions as to use - and if offered a TOU to get that monthly DD - time of your use profile.

As the old adage goes - if it seems to good to be true - it probably is.

For now - I'd see if any of your friends are with one of the many supplier that do an upto £100 from MSE current list intro / referral bonus - and land their for a few weeks - on a variable deal - as your use will likely be low in spring months.

https://www.moneysavingexpert.com/utilities/energy-supplier-rewards-and-referral-schemes/

tamste

Can't remember which internet sites, but I do recall some comparison sites that I have used previously (in the last 2 years) picking the previous actual usage from an online database to make the calculations.