Query about Weflip.

whattochoose · 21 April 2019 at 2:05PM

I normally use Cheap Energy Club when thinking about switching energy supplier. However, I've noticed that Weflip have been promoting themselves strongly on TV recently....
https://www.weflip.com/
I'm presently on a fixed Ebico tariff, but when I did a comparison, Weflip gave me a saving of approximately £10 p.a. switching to Spark Energy (best saving), whereas with CEC if I feed the same information in it indicates I'll be paying £30 more a year switching to Spark.
Any opinions about Weflip?
Thank you.

[Deleted User] · 21 April 2019 at 2:21PM

One thread about weflip from when it was launched
https://forums.moneysavingexpert.com/showthread.php?t=5910189&highlight=weflip

Personally I would avoid any site where you let them enter you into a legally binding contract. weflip isn't going to switch to a cheaper supplier who doesn't pay weflip a referral fee.

I just used their site to prove that the better deals aren't listed there. Those better deals are by providers who don't give out money to switching sites. So weflip would cost me more money and they get to keep all the referral money for themselves. Some other sites share that money with the customer.

Thomas_Edison · 21 April 2019 at 3:44PM

Check unit rates/ standing charges weflip are probably assuming you'll go onto a standard tariff when your switch completes.

Spark are not one of the cheaper energy suppliers so it doesn't seem right.

You should check unit rates and standing charges for yourself.

PaschalFun · 21 April 2019 at 9:57PM

whattochoose wrote: »

I normally use Cheap Energy Club when thinking about switching energy supplier. However, I've noticed that Weflip have been promoting themselves strongly on TV recently....
https://www.weflip.com/
I'm presently on a fixed Ebico tariff, but when I did a comparison, Weflip gave me a saving of approximately £10 p.a. switching to Spark Energy (best saving), whereas with CEC if I feed the same information in it indicates I'll be paying £30 more a year switching to Spark.
Any opinions about Weflip?
Thank you.

Did you remember to change the savings calculation method within the CEC, as the CEC default calculation method is not the one mandated by the regulator for comparison sites?

The main drawback with auto-switching sites is that they don't cover the whole of market; they will only switch you to another supplier if that supplier pays them.

Having said that, don't rely on the CEC either, as although it will include more suppliers than any auto switching site, it too sadly lacks a number of suppliers/tariffs

Energylinx seems to be acknowledged here as the most comprehensive comparison service.

whattochoose · 22 April 2019 at 3:06PM

PaschalFun wrote: »

Did you remember to change the savings calculation method within the CEC, as the CEC default calculation method is not the one mandated by the regulator for comparison sites?

Could you clarify this please?

victor2 · 22 April 2019 at 3:57PM

OFGEM say that comparison sites should base their calculations on assuming that when the tariff the user says they are currently on ends, they will do nothing and go onto that supplier's standard variable tariff (usually their most expensive). It is against this calculated cost that a supposed "savings" figure is generated. This is meaningless for anyone not on the standard tariff and on a tariff that will expire within the next 12 months.
CEC give you the option to use your current tariff for the calculation of your annual cost, regardless of when it ends. Again, not particularly realistic, as the tariff you are on probably isn't available for another 12 months, but at least it doesn't say you will make savings, when that is impossible.

The best way to look at future costs is to compare different tariffs against each other, and ignore your current cost, other than keeping it in mind as what your present costs have been.
Always use your annual kWh usage of each fuel when using comparison sites to get realistic forecasts, and consider cashback as a little bonus, don't allow it to be included in the cost calculation.

whattochoose · 22 April 2019 at 6:04PM

victor2 wrote: »

OFGEM say that comparison sites should base their calculations on assuming that when the tariff the user says they are currently on ends, they will do nothing and go onto that supplier's standard variable tariff (usually their most expensive). It is against this calculated cost that a supposed "savings" figure is generated. This is meaningless for anyone not on the standard tariff and on a tariff that will expire within the next 12 months.
CEC give you the option to use your current tariff for the calculation of your annual cost, regardless of when it ends. Again, not particularly realistic, as the tariff you are on probably isn't available for another 12 months, but at least it doesn't say you will make savings, when that is impossible.

The best way to look at future costs is to compare different tariffs against each other, and ignore your current cost, other than keeping it in mind as what your present costs have been.
Always use your annual kWh usage of each fuel when using comparison sites to get realistic forecasts, and consider cashback as a little bonus, don't allow it to be included in the cost calculation.

Thank you for clarifying that, and for pointing out the benefits of using the annual Kwh usage.
One of the things I like about CEC is that they provide a warning about energy providers whose service is poor.
Think I'll be sticking with them. I did have a look at Energylinx as mentioned by PaschalFun and did a comparison, although that indicated that there were no cheaper tariffs available than the one I'm already on.
By the way, the tariff I'm currently on is Ebico Zero Green Fixed which expires on 20th October, 2019.
Thanks again, to everybody.

Query about Weflip.

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