Energy: Find the cheapest supplier & earn cashback

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  • Consumerist
    Consumerist Posts: 6,310
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    . . . Hope this helps people as energy prices are ever increasing and this is the best deal by far (and it's super easy to switch)
    My advice would be to use MSE Cheap Energy Club to compare energy suppliers and to see any warnings they may issue about them.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • sky9
    sky9 Posts: 1
    First Anniversary Combo Breaker
    Newbie
    I have come on MSE to check tariff prices as my one year fix is coming to an end on April 31st.

    Going through the analysis I was advised to switch even though it would cost me the early penalty. Whenever I prepare to switch I do spreadsheet analysis and found the following:

    Affect Energy £1258
    MSE £1358
    It might well be that the current MSE rate is the best rate around for me however the best deal for me is to stay with AE until a couple of days before the end of April, set up the switch and remain on my current tariff until the switch is completed.

    My advise is to do a very simple spreadsheet of standing charge *365 plus projected use in Kw by the annual use. Subtract any on-line discount and you have the yearly cost. Do that for both fuels and do the same for the recommended tariff.

    WHATEVER YOU DO IGNORE THE HEADLINE SAVINGS BECAUSE THEY ARE BASED ON YOUR CURRENT TARIFF THEN THE FALLBACK TARIFF OF THE PROVIDER WHICH YOU AREN'T GOING TO USE ANYWAY.
  • Consumerist
    Consumerist Posts: 6,310
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    sky9 wrote: »
    . . . WHATEVER YOU DO IGNORE THE HEADLINE SAVINGS BECAUSE THEY ARE BASED ON YOUR CURRENT TARIFF THEN THE FALLBACK TARIFF OF THE PROVIDER WHICH YOU AREN'T GOING TO USE ANYWAY.
    This advice has been posted in this and other threads for many years now but it is good to add another reminder from time to time.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • TREVORCOLMAN
    TREVORCOLMAN Posts: 1,001 Forumite
    sky9 - 31 days in april now eh - I blame Brexit.
    I am NOT a mortgage & insurance adviser - or anything to do with finance, that was put on by the new system I dont know why?!
  • donerkebab
    donerkebab Posts: 177 Forumite
    deutsch wrote: »
    Started a switch from Scottish Power to EDF dual fuel. TCB £80 yesterday.
    Only get an email they've upped it £100 today.
    Still better than nothing. Hopefully will track and be paid.
    EDF were cheap regardless on this ocasion (so not after casback)

    Which tariff is this for? None are currently cheaper than Outfox for me even with the cashback.
    In the words of Jerry Maguire "SHOW ME THE MONEY"
  • halogen
    halogen Posts: 426 Forumite
    I've tried the Energy Club sign up and it crashes for me everytime I try... is there an ongoing issue?
  • RandS
    RandS Posts: 10 Forumite
    Now look here. MSErs
    I have been looking at switching my electricity provider. I have carried out a few comparisons. Im wondering why it that my figures and those of some suppliers are close whilst one, that of Scottish Power suggests i'm all wrong by a good few £'s
    Looking at Unit rates quoted for an "Online Fix & save April 2019" tariff.

    Using My figures of :
    Day usage /year = 4125Kwh
    Eco 7 night usage/yr = 1375Kwh
    Total Kw used = 5497 for the year

    I have taken the figure of 5500 Kwh as a total for the year.
    So to the math. Using the following figures

    365 days Standing chg 32.88/day x 365D = £120.012
    Daytime cost 16.694/Kwh x 4125H = £688.670
    Night cost 7.926/Kwh x 1375H = £108.980
    Making a Total = £917.662 ****

    MY calculated direct debit/M would thus be 917.662/12 = £76.47 *

    S.P are presenting me with the following as an expected cost using their calculator on their web site

    "New annual electricity cost £700.63" *****
    "expected Dirct dbt £58.39" *

    Now according to their figures, if i don't look too closely i could save £18/month over what i figure i would have to pay.

    Can anybody please explain to me how on earth i could make such an error with this "simple" math. Or if its not me. How it is right to present these figures to people looking to compare the cost of electricity?
  • victor2
    victor2 Posts: 7,559
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    RandS wrote: »
    Now look here. MSErs
    I have been looking at switching my electricity provider. I have carried out a few comparisons. Im wondering why it that my figures and those of some suppliers are close whilst one, that of Scottish Power suggests i'm all wrong by a good few £'s
    Looking at Unit rates quoted for an "Online Fix & save April 2019" tariff.

    Using My figures of :
    Day usage /year = 4125Kwh
    Eco 7 night usage/yr = 1375Kwh
    Total Kw used = 5497 for the year

    I have taken the figure of 5500 Kwh as a total for the year.
    So to the math. Using the following figures

    365 days Standing chg 32.88/day x 365D = £120.012
    Daytime cost 16.694/Kwh x 4125H = £688.670
    Night cost 7.926/Kwh x 1375H = £108.980
    Making a Total = £917.662 ****

    MY calculated direct debit/M would thus be 917.662/12 = £76.47 *

    S.P are presenting me with the following as an expected cost using their calculator on their web site

    "New annual electricity cost £700.63" *****
    "expected Dirct dbt £58.39" *

    Now according to their figures, if i don't look too closely i could save £18/month over what i figure i would have to pay.

    Can anybody please explain to me how on earth i could make such an error with this "simple" math. Or if its not me. How it is right to present these figures to people looking to compare the cost of electricity?
    It looks like the tarrif they quote is not E7, so just a single rate throughout the day.
    According to your figures, you only use 25% of your electricity on the night rate. Typically, you would expect to use at least 30% to make E7 a more cost effective tariff.
    Not sure where you got your E7 rates from, but I would guess their quote is saying you'd be better off not using E7.

    I’m a Forum Ambassador and I support the Forum Team on the In My Home MoneySaving, Energy and Techie Stuff boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. 

    All views are my own and not the official line of MoneySavingExpert.

  • flashgit
    flashgit Posts: 5 Forumite
    Having been tempted by the latest 'Big Switch' to do just that, using the comparison tool I input accurate figures from my previous bills to learn that I could 'save' £141 by switching to Bulb. However, when I came to use thepence per KW/Hr and standing charge figures provided by Bulb, I discovered that I would save £5.78 per quarter on my gas and spend an extra £5.35 on electricity. Quite how that adds up to a saving of £141 pa defeats me.

    I echo what has been said above about blindly swapping supplier. Don't do it without thoroughly checking the figures over first. These comparsion sites and the MSE claims of savings are often misleading.
  • Consumerist
    Consumerist Posts: 6,310
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    flashgit wrote: »
    . . . I echo what has been said above about blindly swapping supplier. Don't do it without thoroughly checking the figures over first. These comparsion sites and the MSE claims of savings are often misleading.
    When comparing using CEC there are two options at the top of the page. One (on the right, and selected by default) uses Ofgem's rules to compare prices against the "do nothing" option which includes any period you might spend on the suppliers default tariff.

    If you select the other option (on the left), you then compare your current prices with those of the new tariff so you get figures closer to those you calculated for yourself.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
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