MSE News: Millions on standard variable tariffs for over three years
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The other thing people need to get their head around as well, is with some of energy companies, you can't swap to them if your gas is supplied by an Independent Gas Transporter as ours is. Lots of newer housing developments come under IGT.
Following the roll out of Project NEXUS earlier this year, most suppliers will now accept IGT transfers. Previously, it was a manual transfer process.
The reason why the smaller suppliers are cheaper is two-fold: one, they tend not to pay referral fees and they do not offer WHD. Remember, anyone with £450 can apply to get a Supply Licence. It follows that your chosen supplier may be nothing more than a man with a computer and a phone working from an attic. Ofgem makes it clear when they issue a Supply Licence they are not giving any indication that the licence holder is a ‘fit and proper person’ to hold that Licence. Caveat Emptor.
The problem that we all have is that we want Rolls Royce billing and CS at Skoda prices.0 -
Following the roll out of Project NEXUS earlier this year, most suppliers will now accept IGT transfers. Previously, it was a manual transfer process.
The reason why the smaller suppliers are cheaper is two-fold: one, they tend not to pay referral fees and they do not offer WHD. Remember, anyone with £450 can apply to get a Supply Licence. It follows that your chosen supplier may be nothing more than a man with a computer and a phone working from an attic. Ofgem makes it clear when they issue a Supply Licence they are not giving any indication that the licence holder is a ‘fit and proper person’ to hold that Licence. Caveat Emptor.
The problem that we all have is that we want Rolls Royce billing and CS at Skoda prices.
Thank you Sir, for successfully putting me off from ever switching to an independent energy supplier other than those owned and operated by large County Councils in the UK. I don't mean that in any way sarcastically, I just don't want the hassle of being left high and dry and being necessarily switched to another supplier if they go to the wall because they simply might not have the back up or finances in place that the main suppliers have. I believe this has already happened in the past?
I had no idea what Project NEXUS was. Just searched it and read up. Interesting.
As for billing, all I and any sane person wants, is an energy bill we can understand 100 percent. I can now at least understand my Npower statements, all received online, paperless and through my phone App. Certainly, once upon a time, it wasn't easy, but thankfully the veil of confusion appears to have been consigned to the waste bin concerning the breakdown and structure of bills.0 -
It tends to depend on when your contract starts. A well managed one, paying by monthly DD, will be in credit at the end of the summer and have a debit balance at the end of winter. In my experience, they aim for a zero balance at the end of the contract, so that can affect the calculation.
Having said that, I'm on the MSE/CEC collective fix with BG, ending next month. BG have just refunded the small credit I'd built up over the summer and said they were increasing my DD significantly to cover future estimated cost. That was of course based on the assumption I would go onto their standard variable tariff when the fix ends. I phoned them up, told them to leave the DD where it is, as it will more than cover my usage this month (even after the refund) and I'll be leaving them when the fix ends.
So I suppose the moral is that you do have to be prepared to manage your account on DD payments, which is too much for many people.
This is very true. I'm on the collective with BG and they keep raising my monthly DD and each time I call them to lower it, which they do only to increase it the following month. It doesn't really bother me as I know I'll get it back. They also refunded me back in July but has since taken £176 on two monthly payments but my usage has so far only been £77 over that period (I'm on a smart meter). I'm looking forward to a nice refund when I switch in a few weeks' time
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So much for MSE's new collective - it is £67 dearer per year for me if I were to switch from SP fixed. Even with the £25 cahsback it is still more expensive.
Massive 15p per day standing charge.0
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