chocolate_o_brian

iTrader: (22)

Ok, this may be a bit long winded so I'll try explain as best I can.

As per the other thread with regards to energy prices going up again in the colder months , and having just had a letter from my supplier (Southern Electric) stating a large increase in both standing charges and unit costs, I want to move suppliers/get a better deal.

Now currently I'm on a dual fuel tariff on pre-payment meters, which up until recently, Southern Electric didn't penalise you with added costs over quarterly bills. So, I'm looking towards going dual fuel with whoever (best of a bad bunch perhaps) on a monthly direct debit.

So the maths on my current deal:

I've used 5838kWh of electric and 14206kWh of gas in the last year. Under the new prices on my pre payment meters, this would cost me £1,601.79 in the coming year. A quick look on their website for a standard energy tariff and the same figures come back with £1,510.29 for the year - so a saving of about 90 quid - a start.

But I just popped those same energy figures into Money Supermarket and got comparitive quotes of around £1260 from companies Like NPower etc. That's with the same kWh figures as above on a dual fuel, monthly direct debit plan.

So my question to the savvy on here - what's the catch? That's a big sav ing on my current projected costs if I do nothing, £1600 down to approx. £1260 seems a huge difference.

I'll admit I'm very tempted to ring NPower up and enquire further to see what the catches are or if the price is truly reflective of my current usage.


Any help or advice dually appreciated

ReallyReallyGoodMeat

Well, for a start most companies, npower included, haven't announced the winter price rises like SSE yet, so unless you are being quoted a fixed deal, expect it to go up in line with SSE. If it's 8% like SSE, add another £100+ onto the annual quote you got.

I suspect they are delaying it to catch any people switching away from their current supplier, then announcing their rise when they have tied them in.

Graz

That's the thing to be wary of, the playing field must be level before comparing them all so you may need to wait until all the energy companies have made their seasonal adjustments.

Or as mentioned lock yourself in on a fixed price tariff and then you're immune to any future rises for however long the fix is.

Some good info here: http://www.moneysavingexpert.com/utilities/?tab=sect14

chocolate_o_brian

iTrader: (22)

This NPower offer was fixed until November 2014 and I think a year contract, so if it rise sharply afterwards then I'd be free to move again.

I was with NPower before Southern Electric and the customer services was sh*t in fairness. But for a year and a decent saving, I'm tempted to jump ship.

alcazar

iTrader: (2)

As above, Andy. I moved last year to EON, they put prices up to what I'd previously been quoted by EDF within two weeks of moving.

It's the competition I like........like it doesn't exist.

Chip

Just fixed til March 2017 with Npower. Always had good service from NP as well.

Chip

Oil and gas prices are set globally and are bought just a few days in advance according to the forecast demand. So all utiities are paying roughly the same to buy in the gas anyway. They also make approx the same percentage in profit, around 5%. It's pretty much the same with the big five supermarkets yet nobody seems to moan at them even though percentage wise their profits are higher with less taxation.

chocolate_o_brian

iTrader: (22)

Think I'm gonna look into it tomorrow morning before my afternoon shift. Make a couple phone calls and see the unit cost/standing charges breakdown.

David Lock

And the big rip-off is their charge of 2% if you pay your bill by credit card which a lot of people do as DD is not always affordable.

I queried this 2% charge and was told that this is what they paid. This is a downright lie. I complained to Ofgen and other parties but they weren't interested.

dl