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  • FIRST POST
    • ChrisK.....
    • By ChrisK..... 16th May 18, 12:27 PM
    • 221Posts
    • 94Thanks
    ChrisK.....
    Is there any evidence that comparison sites delivers what they promise?
    • #1
    • 16th May 18, 12:27 PM
    Is there any evidence that comparison sites delivers what they promise? 16th May 18 at 12:27 PM
    I am now 764839743982 years old and have changed energy providers 8594032 times
    In each case I have entered my energy consumption history into a comparison site and in each case the top results have promised savings of around £100s per year if I switch
    In each case I have switched to the 'cheaper' provider, and in each case have not really evidenced any benefit or significant savings????
    Switching providers must be a £million pound business in its own right
    My question is a simple
    Is there any evidence that comparison sites delivers what they promise?
    Or is this just a totally bogus £mulit-million scamming device that has zero accountability?
Page 1
    • JJ Egan
    • By JJ Egan 16th May 18, 1:33 PM
    • 10,960 Posts
    • 4,701 Thanks
    JJ Egan
    • #2
    • 16th May 18, 1:33 PM
    • #2
    • 16th May 18, 1:33 PM
    Many users read the results wrongly or only put in estimates .
    My last comparison promised me between nothing and £30 pa savings .
    • PennineAcute
    • By PennineAcute 16th May 18, 1:44 PM
    • 188 Posts
    • 85 Thanks
    PennineAcute
    • #3
    • 16th May 18, 1:44 PM
    • #3
    • 16th May 18, 1:44 PM
    If you use that amount of energy you enter into the comparison site, then that is what you pay.

    However, if you use their estimated usage, then things can hit the mire. I had to adjust my gas DD this year, as the winter was much colder than has been over the past few years.
    • JJ Egan
    • By JJ Egan 16th May 18, 1:51 PM
    • 10,960 Posts
    • 4,701 Thanks
    JJ Egan
    • #4
    • 16th May 18, 1:51 PM
    • #4
    • 16th May 18, 1:51 PM
    Likewise with gas much higher use in the spring resulted in DD needing topping up.
    Comparison was obviously based upon previous years usage .
    • Hengus
    • By Hengus 16th May 18, 2:12 PM
    • 6,142 Posts
    • 3,933 Thanks
    Hengus
    • #5
    • 16th May 18, 2:12 PM
    • #5
    • 16th May 18, 2:12 PM
    I see Ofgem's cost methodology at play here which allows some collective switches to claim that Miss X saved £319 by switching this time last year, and other £250 by switching again now.

    For consumers on fixed term contracts with less than 12 months to run, the methodology is flawed as the underpinning 12 month's cost assumption is inflated.
    • ChrisK.....
    • By ChrisK..... 17th May 18, 12:38 AM
    • 221 Posts
    • 94 Thanks
    ChrisK.....
    • #6
    • 17th May 18, 12:38 AM
    • #6
    • 17th May 18, 12:38 AM
    I have always entered my actual usage and been promised over £100 saving, but my point is. Did you actually save £30???? I would almost guarantee based on my extensive experience that you did not. So I guess there is no consequences for an energy company to write any price, knowing they are not obligated to honour it
    Many users read the results wrongly or only put in estimates .
    My last comparison promised me between nothing and £30 pa savings .
    Originally posted by JJ Egan
    • ChrisK.....
    • By ChrisK..... 17th May 18, 12:47 AM
    • 221 Posts
    • 94 Thanks
    ChrisK.....
    • #7
    • 17th May 18, 12:47 AM
    • #7
    • 17th May 18, 12:47 AM
    But the previous year also had "a spring" so where have you found this increase from? DDs should be based on annual consumption, so again I can't imagine where or why these "suprises" come from?

    Likewise with gas much higher use in the spring resulted in DD needing topping up.
    Comparison was obviously based upon previous years usage .
    Originally posted by JJ Egan
    • Xbigman
    • By Xbigman 17th May 18, 3:29 AM
    • 3,131 Posts
    • 1,362 Thanks
    Xbigman
    • #8
    • 17th May 18, 3:29 AM
    • #8
    • 17th May 18, 3:29 AM
    I have been with Ebico for gas and electric for years but I did spend one year with another supplier for electric after MSE said i could save £60. I did indeed save £60. As Hengus has pointed out, the way savings are calculated for those on fixed tariffs is flawed. For open ended tariff's like Ebico's the methodology works just fine.

    For those on a cheap fixed tariff the methodology might say you will save £200 but this is compared to a standard tariff, so you won't see a reduction of £200 you will carry on pretty much as before. Maybe a slight rise over time. The thing is that you did save £200 because if you had done nothing you would have paid £200 more.
    My advice is to ignore so called savings and look at the standing charge and unit prices. That is the only sure way to know what you're paying.


    Darren
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
    • spiro
    • By spiro 17th May 18, 7:44 AM
    • 5,975 Posts
    • 2,860 Thanks
    spiro
    • #9
    • 17th May 18, 7:44 AM
    • #9
    • 17th May 18, 7:44 AM
    I ignore the savings figure becuase of the why it is calculated if you are coming off a fixed tariff. I look at how much it says I will pay over the next year and compare that with what I paid over the previous year.
    IT Consultant in the utilities industry specialising in the retail electricity market.

    4 Credit Card and 1 Loan PPI claims settled for £26k, 1 rejected (Opus).
    • JJ Egan
    • By JJ Egan 17th May 18, 8:20 AM
    • 10,960 Posts
    • 4,701 Thanks
    JJ Egan
    But the previous year also had "a spring" so where have you found this increase from? DDs should be based on annual consumption, so again I can't imagine where or why these "suprises" come from?
    Originally posted by ChrisK.....

    Simples in 2018 i used more Gas than in 2017 2016 2015 .
    DD is based upon past annual consumption not the future .Not a surprise as i knew i was using more .
    • ChrisK.....
    • By ChrisK..... 17th May 18, 11:56 AM
    • 221 Posts
    • 94 Thanks
    ChrisK.....
    Simples in 2018 i used more Gas than in 2017 2016 2015 .
    DD is based upon past annual consumption not the future .Not a surprise as i knew i was using more .
    Originally posted by JJ Egan
    Then how are you comparing like with like??????
    Why not just say?
    "My bills are higher this year because I consumed more power - BTW, this has absolutely zero to do with price comparison websites and whether or not they deliver what they say - just thought I would have my 2 cents"

    I seem to have some very bizarre conversation on this forum
    • PennineAcute
    • By PennineAcute 17th May 18, 12:11 PM
    • 188 Posts
    • 85 Thanks
    PennineAcute
    Do you believe everything a salesperson tells you?

    If I want something, I look into it before buying. Same with price comparison sites, as most use Ofgem's stupid rules.
    • S0litaire
    • By S0litaire 17th May 18, 4:24 PM
    • 3,449 Posts
    • 2,177 Thanks
    S0litaire
    Anecdotally I've found that Power usage tends to increase when it's cheaper...

    So if it says I'm going to save £30 over the year,
    I tend to find that I use an extra £30 in that year...

    lol
    Laters

    Sol

    "Have you found the secrets of the universe? Asked Zebade "I'm sure I left them here somewhere"
    • wookie66
    • By wookie66 18th May 18, 12:31 PM
    • 128 Posts
    • 24 Thanks
    wookie66
    Most effective method to determine any "savings" is to have an accurate figure on kWh of gas and electric used for the previous 12month period, then find out unit cost of gas / electricity each supplier is offering and get an Excel spread sheet set up that number crunches annual kWh usage x unit cost + any standing charges to get an indicative annual sum


    Also be careful to check if unit price stated includes or excludes VAT (5% I believe) since this can skew the figures and your calculations when comparing with other suppliers


    Why don't they make it simple by all quoting inclusive of VAT unit prices since surely no residential customer can claim back VAT for energy supply


    Hope this helps
    • Hengus
    • By Hengus 18th May 18, 2:08 PM
    • 6,142 Posts
    • 3,933 Thanks
    Hengus


    Why don't they make it simple by all quoting inclusive of VAT unit prices since surely no residential customer can claim back VAT for energy supply


    Hope this helps
    Originally posted by wookie66
    Comparison sites all work to the Ofgem Confidence Code for PCWs. PCWs include VAT in all comparisons where standing charge; unit and total cost are shown. Suppliers own websites vary. The only given is that total cost for the same postcode and annual usage in kWhs/year will be the same.

    The reason why suppliers do not include VAT is because this is a potential variable. It may well have remained at 5% for years but there is nothing to stop the Government post-Brexit changing the domestic VAT rate. Suppliers' accounting systems are designed to accommodate any future VAT changes with minimal intervention/cost as is the case with all the accounts packages that I have used.
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