Don't Switch Now Becomes SWITCH NOW!

MSE_Martin

TIME TO SWITCH! Now is the best time to switch.

I've changed my recommendation. While i don't think prices will stop rising, i think this is the most level playing field we are going to get!

There's a completely new article about switching on the site and now i've pushed providers into giving us greater cashback.

NEW ARTICLE

There will be a special tip sent out tomorrow. However wanted to let forumites know first.



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DON’T SWITCH! DON’T SWITCH! DON’T SWITCH! Energy Provider Warning!

I can hear the jaws dropping. Normally my mantra is ‘switch energy provider - it's easy MoneySaving’. Yet British Gas’s hiking gas & elec prices up 14.2% and it's likely others will follow. This means any comparisons done now will provide false results. Unless you want a fixed or capped rate tariff (then see Cheapest Gas And Electricity article). Hold off, I'll let you know my best guess of the time time to switch. Special mini-muttering

Admittedly this is more art than science - as the switching times are private - but its worth trying to get it right.

I will change this thread when it is time to switch - so if this still says 'Don't Switch' then its still 'Don't Switch'

Update Note 3 October

Scottish Power has today announced price rises, substantial ones, so i think more are to come and this don't switch stance is working

Update Note 11 October

The following are further price rises (thanks to energyhelpline for the info)

Utility Warehouse from 1st October - a massive rise of around 25% sending them from being close to top to close to the bottom.

ScottishPower – around 10% (12% on gas & 5-8% on elec) from 19th October.

Basic Power – around 30% (NB. Not on results table below as their tariff is monthly DD in advance) from 9th October.

Teak

Also supposedly in a newspaper this week (Daily Mail?), there was an article warning of BG's price freeze offer till 2010 was a bad deal since BG know prices should come down in the next 2yrs anyway. Which might tie in with what I'm sure an expert said on Working Lunch earlier this year when the likes of EDF introduced a price cap offer.

Marigold123

Just a quick post to remind people that posting on a thread will mean you get an email notification each time a new post is made to that thread. It's a handy technique if you're waiting for info to appear. OK, you won't be notified if Martin only edits his original post, but someone is bound to post in response, so you'll still find out it's been changed. (So that's my notification sorted out. )

MSE_Martin

Thanks Marigold - i will both amend the top post and add a post to make sure

Marigold123

Cheers.

crystal_clear

good point Marigold123

Thanks I am a BG dual fuel customer and want to change a.s.a.p but will hold off for more details

cubwolf

Marigold123 wrote:

Just a quick post to remind people that posting on a thread will mean you get an email notification each time a new post is made to that thread

You can always use the "thread tools" option at the top of each thread and subbscribe to alerts from there

MSE_Martin

PS one other reason not to switch yet. I am currently redoing my Gas and elec comparison sites comparison. As Im doing it - there's been a bit of a 'cashback pricewar' with the sites trying to be top pick - so it will be interesting to see what happnens!

However cashback isn't of course the only criteria - the qualirty of the comparison is just as important

burdski

Although most companies have/are increasing their prices, npower froze their prices a while ago (some time in 2004 if I remember correctly) until 2006, and it's the same price for existing and new customers. Okay so this only gives you about 3 months of low prices but that's still better than nothing and you can always switch away when they decided to increase prices.

It's important to note that in the standard industry T&Cs companies have to give 10 days prior notice of any changes (e.g. price increase) and then you normally have 14 days to give them notice that you want to change suppliers, and then even if the switching process takes longer the new prices will not apply to you. So if the electricity suppliers increase their prices at different times you could end up dodging the general industry price increase for a few months - if you have the energy and time to keep switching that is!

edda

MSE_Martin wrote:

DON’T SWITCH! DON’T SWITCH! DON’T SWITCH! Energy Provider Warning!

This means any comparisons done now will provide false results. Hold off, I'll let you know my best guess of the time time to switch. Special mini-muttering

I think it's about time the much-publicised internet advice sites starting giving consistent and full information.

It's been a gripe of mine for ages that most of the switch sites are not easy to use when a price change is in the offing. I find it impossible to know if I am comparing like with like, as I can't tell who has announced increased prices and who hasn't.

This can result in 1 of 2 bad options - making a wrong decision based on imperfect information; or staying with an existing provider (which could still be a bad decision).

Thanks Martin, for warning us about this - and keeping us up to date on when it's safe to reassess our suppliers. :T

psb

Martin
Re Switching - I Assume We Will Get Our Usual E-mail's Letting Us Know When It's Safe To Do The Switching Comparison Again. I Had Only Done The Comparison Yesterday And Was About To Switch Today When I Saw Your "don't Switch Yet" Article. Thanks
Psb