MSE News: More collective energy switches launch – how do they stack up?
Comments
-
You have to be so careful with these price comparisons as they are often comparing apples with pears. If you are currently on any price deal, the comparison site takes the date your deal ends and then assumes you will (like an idiot) move to the provider's standard tariff.
With energy prices falling, it is reasonable to assume you will switch to at least a similar deal, so the comparison should be on an "as if" basis.
They also fail to take into account the sneaky practice of many providers who insist you change your direct debit immediately your meter reading is slightly above the norm (typically in winter) - alawys a hassle - step forward British Gas and Scottish Power.
It can be time-consuming to work out an "exact" comparision (gas Kw energy formula anyone?) but this is the only way - and using prior 12 months Kwh consumption.
I have foregone the MSE Collective deal just because it was too "iffy".0 -
i am currently on a collective switch thru CTM which expires in three months and have been offered a MSM switch which is actuallycheaper thanCTM and as they are both with EON have been told no exit chargeshowever now i have got a smartmeter can see how the energy companies really skank us EON tell me my annual usage is 4400 units per year but i have worked out it is only 3500 so if they are getting 800 units overpayment per year @10pfrom 2million customers its a nice little earner and nobody is any the wiserI would love to get a reply fron an EON representative on this one0
-
i am currently on a collective switch thru CTM which expires in three months and have been offered a MSM switch which is actuallycheaper thanCTM and as they are both with EON have been told no exit chargeshowever now i have got a smartmeter can see how the energy companies really skank us EON tell me my annual usage is 4400 units per year but i have worked out it is only 3500 so if they are getting 800 units overpayment per year @10pfrom 2million customers its a nice little earner and nobody is any the wiserI would love to get a reply fron an EON representative on this one
Are you not two days late with this post?0 -
........ my annual usage is 4400 units per year but i have worked out it is only 3500 so if they are getting 800 units overpayment per year @10pfrom 2million customers its a nice little earner and nobody is any the wiserI would love to get a reply fron an EON representative on this one
Your annual projected consumption is based on actual meter readings taken over a number of years AVERAGED out to take into account climate variations. It has been a particularly warm winter but there is no guarantee that the 2016/7 winter will be as warm. There is no 'nice little earner' here as consumers only pay for the energy consumed at the agreed tariff rate.
That said, it is fair to say that high projected usage figures do result in higher than necessary monthly DD payments with the concomitant effect that suppliers get to hold on to more of their customers' money than they should. In my view, Ofgem should be taking more interest in this than they are. I have raised this and The Energy Ombudsman's response to me was 'suppliers have an over-arching licence obligation to ensure that customers do not get into debt'.0 -
not sure why i am 2 days out of date as MSM collective switch closes on april 6 according to email0
-
l agree with what you say but if boot was on the other foot the power companies would soon be chasing you for money owed why dont they give a discount on bill for money in credit0
-
I have raised this and The Energy Ombudsman's response to me was 'suppliers have an over-arching licence obligation to ensure that customers do not get into debt'.
This is one of the few times I have sympathy with the Energy companies, and agree with the Ombudsman.
Not long ago this forum was inundated with complaints that companies had set the DD too low and were at fault for letting customers having a debit balance. It was often suggested that this was a deliberate ploy to ensure customers could not switch suppliers because of this debit balance.
'Damned if you do, and damned if you don't!' A classic lose/lose situation.0 -
l agree with what you say but if boot was on the other foot the power companies would soon be chasing you for money owed why dont they give a discount on bill for money in credit
OVO effectively are ,as far as I'm aware they pay 3% pa on credit balances.:)
Also several of the Utility suppliers allow you to change the DD amount -I'm with EON and they have just suggested a reduction of £13 pm which stacks up with my calculations too.and will prevent me running a credit balance for long this Summer,having been in debit all Winter0 -
i am currently on a collective switch thru CTM which expires in three months and have been offered a MSM switch which is actuallycheaper thanCTM and as they are both with EON have been told no exit chargeshowever now i have got a smartmeter can see how the energy companies really skank us EON tell me my annual usage is 4400 units per year but i have worked out it is only 3500 so if they are getting 800 units overpayment per year @10pfrom 2million customers its a nice little earner and nobody is any the wiserI would love to get a reply fron an EON representative on this one
Morning mallyboy5.
I think the tariff you mean is the E.ON MSM Fixed 1 Year Collective March 2016. This is the only collective tariff currently on sale that we're involved with. It will, though, only be on sale until 7 April 2016. Also, as a collective, it's only available through the broker site offering it. In this case, MSM. We're not allowed to promote or market collectives and will only become involved once the switch has gone through. As you say, as an existing customer, there's no exit fee involved for changing tariff if you decided to go for this collective.
We always prefer to base our charges on actual meter readings. This gives an accurate picture of how much energy is being used. As Hengus says, provided bills are based on actual readings, customers will only pay for the energy they use. We'll send estimates if we don't have actual readings but are happy to re-bill as soon as we receive accurate readings. The more actual readings we have the better. Your new Smart Meter will help as they send us readings directly via electronic messages.
Where are we saying your usage is 4400 kWh per year? Between what points have you worked out it's 3500 kWh? Are these the same as we've used? How long have you been with us? Before the Smart Meter was fitted, were there any estimated bills?
Sorry for all the questions. Suspect the difference may be down to being based on varying data/times. Guessing though. The important thing is, as long as bills are based on actual readings, you'll only pay for what you use. There's an online tool called 'Real Time Billing' to help you keep up to date. Provided you've registered with our website, you can pop in readings and choose to either see the balance that would result or actually create your own bill. It's a great way to keep on top of things and to make sure charges are up to date and accurate.
Hope this is of interest mallyboy.
Malc“Official Company Representative
I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0 -
Are you not two days late with this post?not sure why i am 2 days out of date as MSM collective switch closes on april 6 according to email
As above, just to let you know, The E.ON MSM Fixed 1 Year Collective March 2016 is withdrawn from sale on 7 April 2016.
Thanks.
Malc“Official Company Representative
I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
This discussion has been closed.
Categories
- All Categories
- 343.1K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.2K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards