Can someone please work this out for me

Lijong
Lijong Posts: 31 Forumite
First Anniversary First Post
in Energy
Which is the better deal? I use 6500kw on Elec and 6000kw on gas per year

OCTOPUS

Electricity
Unit rate: 15.03 p/kWh
Standing charge: 19.21 p/day
Gas
Unit rate: 3.38 p/kWh
Standing charge: 16.80 p/day

PEOPLE'S ENERGY
Electricity
Tariff cost £949.47
Standing Charge: 21.4999995 p/day
Unit Price: 13.399995 p/kWh
Gas
Tariff cost £261.53
Standing Charge: 21.4999995 p/day
Unit Price: 3.0509955 p/kWh

Because the standing charges are different I cannot work it out. With Octopus the person who refers me gets £50 and I get it too so that may swing it. I don't know if either charge an exit fee in case they become more expensive and I switch again

Thanks very much
«1

Comments

  • Terry98
    Terry98 Posts: 1,155 Forumite
    First Anniversary Combo Breaker First Post
    I would wait for somebody else to confirm this but taking into account £100 referrals both prices are almost identical.

    My calculations are Octopus £1310 less £100 and Peoples Energy £1211 but I could be wrong!
  • Robin9
    Robin9 Posts: 12,101 Forumite
    First Post First Anniversary Name Dropper
    Lijong - why are you restricting your choice to these two companies ? If you put your consumptions in the MSE Cheap Energy Club comparison site all the sums are done for you and there are better options.

    Are you sure your consumptions are correct ? Your elec is double the average (for a gas heated property) whereas your gas is low ? Are you using an electric shower and a fan heater /
    Never pay on an estimated bill
  • Hoof_Hearted
    Hoof_Hearted Posts: 2,361 Forumite
    First Post First Anniversary
    Electricity:
    Octopus 1047.07
    People's 949.47

    Gas
    Octopus 264.12
    People's 261.53

    Not taking into account referral fees.
    Je suis sabot...
  • Biscuit_Tin
    Biscuit_Tin Posts: 782 Forumite
    First Post First Anniversary Combo Breaker Name Dropper
    Terry98 wrote: »
    I would wait for somebody else to confirm this but taking into account £100 referrals both prices are almost identical.

    My calculations are Octopus £1310 less £100 and Peoples Energy £1211 but I could be wrong!

    MSE Martin's advice is not to include any possible cashback into your choice of supplier & tariff, as such cashback is not guaranteed until it hits your bank account.

    Consider any cashback as a little bonus, if you get it.
  • Biscuit_Tin
    Biscuit_Tin Posts: 782 Forumite
    First Post First Anniversary Combo Breaker Name Dropper
    edited 12 December 2018 at 10:23AM
    Lijong wrote: »
    Which is the better deal? I use 6500kw on Elec and 6000kw on gas per year

    OCTOPUS

    Electricity
    Unit rate: 15.03 p/kWh
    Standing charge: 19.21 p/day
    Gas
    Unit rate: 3.38 p/kWh
    Standing charge: 16.80 p/day

    PEOPLE'S ENERGY
    Electricity
    Tariff cost £949.47
    Standing Charge: 21.4999995 p/day
    Unit Price: 13.399995 p/kWh
    Gas
    Tariff cost £261.53
    Standing Charge: 21.4999995 p/day
    Unit Price: 3.0509955 p/kWh

    Because the standing charges are different I cannot work it out. With Octopus the person who refers me gets £50 and I get it too so that may swing it. I don't know if either charge an exit fee in case they become more expensive and I switch again

    Thanks very much

    You need to consult a comparison site - they will do all the calculations for you (not just for these 2 tariffs, but from the whole of market) & the choice will then become clear as to what is the best solution for you :)

    Do look into the possibility of separate suppliers for gas & electricity, as that can often save you even more money :money:

    Are these tariffs fixed or variable? Martin has been banging on about fixing for ages, with some suppliers having raised their prices for their variable tariffs no less than FOUR times this year alone
  • Billy_the_fish
    Billy_the_fish Posts: 94 Forumite
    Lijong wrote: »
    Which is the better deal? I use 6500kw on Elec and 6000kw on gas per year

    OCTOPUS

    Electricity
    Unit rate: 15.03 p/kWh
    Standing charge: 19.21 p/day
    Gas
    Unit rate: 3.38 p/kWh
    Standing charge: 16.80 p/day

    PEOPLE'S ENERGY
    Electricity
    Tariff cost £949.47
    Standing Charge: 21.4999995 p/day
    Unit Price: 13.399995 p/kWh
    Gas
    Tariff cost £261.53
    Standing Charge: 21.4999995 p/day
    Unit Price: 3.0509955 p/kWh

    Because the standing charges are different I cannot work it out. With Octopus the person who refers me gets £50 and I get it too so that may swing it. I don't know if either charge an exit fee in case they become more expensive and I switch again

    Thanks very much


    Hi Lijong,

    As mentioned by another poster.
    Can you 100% confirm those readings again as the Elec reading looks very high unless you live in a large property, but then the gas seems very very low if you have a large property.

    MAybe they are correct but just want to 100% confirm that they are, indeed, correct.
  • Biscuit_Tin
    Biscuit_Tin Posts: 782 Forumite
    First Post First Anniversary Combo Breaker Name Dropper
    So it appears the OP is in supply region 16 (NorthWest)

    According to EHL,
    Octopus Energy - Octopus 12M Fixed = £1311
    People's Energy - The People’s Tariff August 2018 (variable) = £1211

    but there are 3 cheaper suppliers/tariffs available (fixed and variable), the cheapest of which

    Utility Point - Up Energy Saver (fixed) = £1126 :money:

    In this instance, looking at single fuel suppliers, UP comes up the cheapest for both (i.e. on the above mentioned tariff), so no further savings possible.

    If interested, if you look at the referrers board, there is probably a referral link available there for UP for some possible cashback :)
  • Lijong
    Lijong Posts: 31 Forumite
    First Anniversary First Post
    I've been with OTM for the past 11 months, before that OVO. I spend around £80-85 on electricity per month and £20-25 on Gas.

    I don't use the heating as have been having chemo for 9 years for Lymphoma and the heat makes me fill sick (sicker) so I tend not to really use the radiators. I am constantly warm which is a side effect so the large electricity sum is probably for the fans I use around the house to keep cool. I expect I use 6500kw on Elec and 6000 on Gas. I am in Preston in a semi-detached 4 bedroom house.

    When I checked last time on the energy club it hadn't updated OTM latest price hike so didn't give me the correct comparisons. I will try it again although I am sure my tariff won't be listed. It was Zapp November but it has changed now and I have asked their chat 3 times what I am on and they didn't know! Yeah, I know.

    This is what my latest email said

    From 1st January 2019 your electricity unit rate will change from £0.1206/kWh to £0.1346/kWh.

    Your gas unit rate will change from £0.0372/kWh to £0.0426/kWh

    Your monthly membership fee will be replaced by a daily standing charge of 28p per fuel.

    Thank you all again. Your help is appreciated. It is so confusing
  • Robin9
    Robin9 Posts: 12,101 Forumite
    First Post First Anniversary Name Dropper
    Lijong wrote: »
    ......................

    When I checked last time on the energy club it hadn't updated OTM latest price hike so didn't give me the correct comparisons. I will try it again although I am sure my tariff won't be listed. ..............


    Whether or not your existing tariff is listed is not relevant - what is what the estimated running costs under alternative suppliers is. The important part is the consumption and you have clarified that.

    Make sure you read the meter.

    From your other post I understand that OTM owe you a considerable sum. Switching away from them may be the only way to force their hand.
    Never pay on an estimated bill
  • Lijong
    Lijong Posts: 31 Forumite
    First Anniversary First Post
    edited 12 December 2018 at 6:12PM
    £823 in credit now and I asked for it in November and sent in 3 emails since and they haven't replied or given me a refund.

    I cannot seem to find the "referrers board" can someone provide a link please? thank you
This discussion has been closed.
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