Electricity Suppliers - advice?

[JohnW2]

I wonder if there's a case to be made for the transmission and distribution of energy to be publicly owned by the nation.

A political discussion would probably be best placed in a separate thread (or forum)!

I'm sure that some would make such case, and that there is scope for heated debates - but, at least in my opinion, the history of things "owned by the nation" is not a particularly happy one - not the least because it represents a complete (and often/usually very inefficient) monopoly (something which Ofgem is charged to avoid).

I'm not sure that the argument (in the minds of some people) for state ownership of energy transmission/distribution (did you deliberately omit generation?) is any stronger than it would be for any other 'necessity' (e.g. food, clothing, housing, water/sewerage, communications etc. etc.), is it? There are, of course, people who believe that everything, or almost everything, should be state owned - but that's certainly not a topic for an Electrics forum

Kind Regards, John

 

[JohnW2]

In case anyone is thinking of looking at the CAB comparison site, a couple of 'warnings' ....

Firstly, as previously mentioned, for those suppliers (liek Together Energy) who take a higher DD during Winter months, the 'headline. monthly DD figure given on this site is the (much higher) Winter figure. As an example (Together Energy 3-year deal for my usage), the estimated total per year is £1279.75, which equates to an (average) monthly DD of £106.65. However, the headline DD figure on the CAB site is given as £128 (which is 106.65 +20%). Whilst it is true that the DD would be £128 during Winter months, it would be only about £85 during the summer months (hence 'averaging at ~£106.65 over the whole year).

Secondly, for anyone who looks at the 'Savings' figures quoted, in contrast with most other comparison sites, the CAB give 'saving' figures which, for most people are probably misleadingly low. They give these 'savings' relative to what one is currently paying (i.e. assuming that one could remain on one's current tariff throughout the period of the new tariff in question) - which, in most cases will not be relevant/realistic, since costs will rise even if one doesn't swap. In my case, for example, it reports only 5 of 247 tariffs as offering 'savings' (relative to what I am currently paying), even though a high proportion of those 2476 would cost me less over the coming 1, 2 or 3 years (as appropriate) than I would pay if I didn't swap. I would therefore again suggest that people should do their own 'savings'calculations, rather than relying on figures quoted by any of these comparison sites!

Kind Regards, John

 

[bri160356]

In case anyone is thinking of looking at the CAB comparison site, a couple of 'warnings' ....

Firstly, as previously mentioned, for those suppliers (liek Together Energy) who take a higher DD during Winter months, the 'headline. monthly DD figure given on this site is the (much higher) Winter figure. As an example (Together Energy 3-year deal for my usage), the estimated total per year is £1279.75, which equates to an (average) monthly DD of £106.65. However, the headline DD figure on the CAB site is given as £128 (which is 106.65 +20%). Whilst it is true that the DD would be £128 during Winter months, it would be only about £85 during the summer months (hence 'averaging at ~£106.65 over the whole year).

Secondly, for anyone who looks at the 'Savings' figures quoted, in contrast with most other comparison sites, the CAB give 'saving' figures which, for most people are probably misleadingly low. They give these 'savings' relative to what one is currently paying (i.e. assuming that one could remain on one's current tariff throughout the period of the new tariff in question) - which, in most cases will not be relevant/realistic, since costs will rise even if one doesn't swap. In my case, for example, it reports only 5 of 247 tariffs as offering 'savings' (relative to what I am currently paying), even though a high proportion of those 2476 would cost me less over the coming 1, 2 or 3 years (as appropriate) than I would pay if I didn't swap. I would therefore again suggest that people should do their own 'savings'calculations, rather than relying on figures quoted by any of these comparison sites!

Kind Regards, John

The way that pertinent tariff/savings info is displayed leaves a lot to be desired on many (if not all) comparison sites.

The Citizens Advice Comparison Tool has all its tariff info fed into it by the Energylinx price comparison site;... it’s actually just a stripped down version of the Energylinx website; i.e. it’s had all the ‘money making/commercial’ links etc removed. To the best of my knowledge the Citizens Advice Comparison Tool is also administered/maintained by the Energylinx technical team as well.

When it comes to website layout and tariff info etc Citizens Advice are at the mercy of Energylinx,...and Energylinx are a commercial enterprise.

As of May’18 OFGEM allowed the Price Comparison Sites (for the first time) the option of only displaying tariffs from their ‘preferred’ energy suppliers if they so wish. They no longer need to offer a ‘Whole Of Market’ option.

However, if they do not offer the ‘Whole Of Market’ option they must provide a direct link to the Citizens Advice Comparison Tool. Furthermore, said ‘link’ must also be displayed in a very prominent position;... Citizens Advice and OFGEM are all loved up!

 

[Harry Bloomfield]

Assuming I with E.on, still in the first 6 months since switching to them and I spot a cheaper E.on offering as suggested by E.on themselves, would there be any penalty for switching?

 

[JohnW2]

The way that pertinent tariff/savings info is displayed leaves a lot to be desired on many (if not all) comparison sites.

Indeed, and all re potentially pretty misleading - but I thought it was worth pointing out to people that the CAB site (seemingly uniquely) very much 'errs' in the opposite direction from most/all of the other comparison sites, leading to the (incorrect) impression that very few switches would result in any 'saving' in comparison with actual (rather than 'fictional') alternatives.

The Citizens Advice Comparison Tool has all its tariff info fed into it by the Energylinx price comparison site;... it’s actually just a stripped down version of the Energylinx website; i.e. it’s had all the ‘money making/commercial’ links etc removed. To the best of my knowledge the Citizens Advice Comparison Tool is also administered/maintained by the Energylinx technical team as well. .... When it comes to website layout and tariff info etc Citizens Advice are at the mercy of Energylinx,...and Energylinx are a commercial enterprise.

What most of the sites say about how they've calculated the 'savings' figure is something like (this one is from Uswitch) ...

This is calculated using the Ofgem-defined personal projection method, which assumes you do not switch at the end of your plan and are automatically placed on your supplier's rollover plan for the remainder of the 12 months ahead.

That obviously will generally make 'savings' look greater than they are likley to be in practice (since most people going to such sites would not allow themselves to fall back onto their present supplier's 'default' tariff). However, I said said, that is (seemingly uniquely) NOT what the CAB site does. It appears to assume that one stayed on one's current tariff even after it ended - which is obviously not an option, so makes the 'savings' they quote far less than they are likely to be in practice - as I said, it results in only about 2% of the tariffs on the CAB cite being said to offer me any 'saving'!

As of May’18 OFGEM allowed the Price Comparison Sites (for the first time) the option of only displaying tariffs from their ‘preferred’ energy suppliers if they so wish. They no longer need to offer a ‘Whole Of Market’ option.

As I reported at the time, the option to show 'the whole of market disappeared from the MoneySavingExpert site yesterday - but it is back today!

Kind Regards, John

 

[JohnW2]

Assuming I with E.on, still in the first 6 months since switching to them and I spot a cheaper E.on offering as suggested by E.on themselves, would there be any penalty for switching?

If there is an 'early exit fee/penalty' associated with the tariff/plan you have, then that fee/penalty is payable if you switch to another supplier prior to 49 days before the end of the plan. However, I think that many suppliers (I think including E.ON)do not charge that fee if you switch to another of their tariffs. The T&C of your particular tariff/plan will give you an answer to that.

You would also need to look at the Ts&Cs of the plan you were thinking of changing to, since I think that some say that the tariff is not available to existing customers (although I'm not certain that they are actually 'allowed' to do that!).

Kind Regards, John

 

[Harry Bloomfield]

If there is an 'early exit fee/penalty' associated with the tariff/plan you have, then that fee/penalty is payable if you switch to another supplier prior to 49 days before the end of the plan. However, I think that many suppliers (I think including E.ON)do not charge that fee if you switch to another of their tariffs. The T&C of your particular tariff/plan will give you an answer to that.

You would also need to look at the Ts&Cs of the plan you were thinking of changing to, since I think that some say that the tariff is not available to existing customers (although I'm not certain that they are actually 'allowed' to do that!).

Kind Regards, John

Thanks...

So far as I could see, there was no early exit fee for switching from one e.on fix to another e.on fix - so I switched, and the switch is active today. The first time I have switched tariffs within a company, but it suggests it should save me around £80 per year.

 

[JohnW2]

Thanks... So far as I could see, there was no early exit fee for switching from one e.on fix to another e.on fix - so I switched, and the switch is active today. The first time I have switched tariffs within a company, but it suggests it should save me around £80 per year.

That sounds like an improvement.

However, as I've said before, I'm a little surprised that you find any E.ON tariffs to be attractive. For me, the three E.ON tariffs on the (allegedly 'whole of market') CAB site are the 211th, 225th and 226th out of 250, and the cheapest of those (strangely, their 2-year fixed price deal, which is probably what you have changed to) is about £378 per year (about 36%) more expensive for me than the cheapest option for me on the site.

Kind Regards, John

 

[Harry Bloomfield]

That sounds like an improvement.

However, as I've said before, I'm a little surprised that you find any E.ON tariffs to be attractive. For me, the three E.ON tariffs on the (allegedly 'whole of market') CAB site are the 211th, 225th and 226th out of 250, and the cheapest of those (strangely, their 2-year fixed price deal, which is probably what you have changed to) is about £378 per year (about 36%) more expensive for me than the cheapest option for me on the site.

Kind Regards, John

I moved from their V20 to their V13 both dual fuel, both online. Saving me around £80 per year, according to E.ons own calculations.

 

[JohnW2]

I moved from their V20 to their V13 both dual fuel, both online. Saving me around £80 per year, according to E.ons own calculations.

Fair enough - I obviously am no looking at dual fuel deals (since i don't have 'dual fuels'!).

I could save a bit if I swapped from one E.ON tariff to another (for just electricity), but I'd still be paying best part of £400 p.a. more than I could be paying to other suppliers.

Kind Regards, John

 

[Harry Bloomfield]

Fair enough - I obviously am no looking at dual fuel deals (since i don't have 'dual fuels'!).

I could save a bit if I swapped from one E.ON tariff to another (for just electricity), but I'd still be paying best part of £400 p.a. more than I could be paying to other suppliers.

Kind Regards, John

Being able to take both fuels, does give a discount. I have 14 days to change my mind on the new tariff. I was surprised the switch was so quick, instant, but they don't involve a third party confirming meter readings.

 

[JohnW2]

Being able to take both fuels, does give a discount. I have 14 days to change my mind on the new tariff. I was surprised the switch was so quick, instant, but they don't involve a third party confirming meter readings.

Sure, if one is just changing tariffs within the same company, then I assume that the change is (or certainly could be) essentially 'immediate' (and just a local administrative exercise), just like many of us go through every year or two (if we don't change supplier).

Kind Regards, John

 

[Laurence Harvey]

I moved from their V20 to their V13 both dual fuel, both online. Saving me around £80 per year, according to E.ons own calculations.

Seems to be a good tariff. If I use my gas and electricity consumption it's by far the best available from any of the Big-6 at the moment. It’s only beaten by 2 or 3 of the small suppliers as well, and then not by much. The £60 exit fee might put some people off perhaps.

That being said, not much use to single-fuel OP John though.

 

[Harry Bloomfield]

Seems to be a good tariff. If I use my gas and electricity consumption it's by far the best available from any of the Big-6 at the moment. It’s only beaten by 2 or 3 of the small suppliers as well, and then not by much. The £60 exit fee might put some people off perhaps.

That being said, not much use to single-fuel OP John though.

That's the way I look at it - If there is not much difference between the big ones and the small ones, I opt for the big suppliers. It's unlikely I would have need to switch mid term, so the £60 is not an issue, prices rise, they don't usually fall.

 

[JohnW2]

Seems to be a good tariff. If I use my gas and electricity consumption it's by far the best available from any of the Big-6 at the moment. It’s only beaten by 2 or 3 of the small suppliers as well, and then not by much. The £60 exit fee might put some people off perhaps. .... That being said, not much use to single-fuel OP John though.

Indeed. If what you say is true, then 'dual fuel' must make a big difference....

... for me (electricity only), the currently cheapest E.ON tariff is "Fix Online v13" which, as I said yesterday, is about (varies from day to day!) 211th out of 250 in the list (of decreasing cost for me). All of the other Big-6 companies are offering me cheaper deals than that, the cheapest being Scottish Power (£162 per year less than E.ON) and virtually all of the small suppliers are also offering cheaper deals than E.ON, the cheapest being Symbio (£368 per year less than E.ON).

Kind Regards, John