Changing energy suppliers

[Mottie]

That depends upon what sort of account you have set up with them. If you pay monthly, but based on your annual consumption/12, then you will overpay in summer, underpay in winter - which is what I do. The recent large variations in energy costs, threw everyone's consumption/12 calculation out.

Same here. I built up a healthy cushion when we were paying £127 a month on a 2 year fixed tariff. When it ended last October, I upped it to £150. Still have just over a hundred quid in surplus but using less than £150 a month at the moment. I’ll probably fix again after the next price cap in July.

 

[RandomGrinch]

It sounds like I'm the only one left paying quarterly!

 

[Mottie]

It sounds like I'm the only one left paying quarterly!

Quarterly in arrears? Probably paying more for the privilege too.

 

[Harry Bloomfield]

Quarterly in arrears? Probably paying more for the privilege too.

Yep, the energy company need to borrow money to cover the debt, plus make enough profit to cover the risk of the ones who fail to pay. Pay ahead of time, the company has the money in the bank to buy the energy, on the energy market, so you pay less.

Even better for both the energy company and the customer, is the likes of the Octopus Tracker, where the customer pays what the energy company pays, plus a calculated extra amount, to cover the companies admin costs. On the Tracker, I pay around <40% less for my energy, than everyone else, on the variable tariffs - but you need to be in credit, and have smart meters, to be on the tariff. It's a massive discount, on the usually large energy bills. https://share.octopus.energy/jade-light-417

 

[gas112]

• Tracker features Price Cap Protect, which caps the maximum daily price at 100p / kWh for electricity and 30p / kWh for gas – keep in mind that's a lot higher than the Ofgem Energy Price Cap, so if you can't afford prices to increase further, you're probably better off sticking with a protected tariff such as Flexible Octopus.

 

[Harry Bloomfield]

• Tracker features Price Cap Protect, which caps the maximum daily price at 100p / kWh for electricity and 30p / kWh for gas – keep in mind that's a lot higher than the Ofgem Energy Price Cap, so if you can't afford prices to increase further, you're probably better off sticking with a protected tariff such as Flexible Octopus.

However, if you check the Tracker costs of both E & G, for the past 12months, it has neither fuel has exceeded the Flexible tariff on a single day, always well below, but the actual cost does vary by the day. Yesterday E was 11.92p and G 3.77p. Even if the Tracker should become consistently more expensive than the Flex, you can simply move back to Flex, and within 14 days.

Since moving, I have saved hundreds of pounds.

 

[noseall]

It sounds like I'm the only one left paying quarterly!

Moi aussi.

 

[noseall]

Probably paying more for the privilege too.

I just pay (quarterly) for the energy I've used. Simple.

 

[Mottie]

I just pay (quarterly) for the energy I've used. Simple.

I’d expect nothing less from you - if there’s a more expensive way of paying for something, you’ll find it - energy, broadband, mobile phone contract…Still, it gives you moan to about how expensive things are for you and blame it on something else, usually Brexit or the conservatives.

 

[Brigadier]

I’d expect nothing less from you - if there’s a more expensive way of paying for something, you’ll find it - energy, broadband, mobile phone contract…

While there might be some truth in this, it can be more nuanced than the headline figures.

My ex F-i-L was tighter than two coats of paint (the loaded ones often are) yet would regale you with joyous tales of how he'd spent the last fortnight saving a tenner on his - £45, for a fortnight - airport parking........
To me, just not worth the bother, let alone not actually being a saving at all in reality.....

Plus, Nosey's point is often that, while it may be cheaper if you shop around, he didn't have to before: it was a given.
A case of creating a problem, then being proud as punch at coming up with a solution...........

 

[Mottie]

I just pay (quarterly) for the energy I've used. Simple.

I’d expect nothing less from you - if there’s a more expensive way of paying for something, you’ll find it - energy, broadband, mobile phone contract

While there might be some truth in this,

There is a lot of truth in it. Last time he had a moan up about the cost of utilities, I told him what to do and then he basically admitted that he was too lazy and couldn’t be bothered. He could be bothered to come on here and moan about it though…..

 

[noseall]

he basically admitted that he was too lazy and couldn’t be bothered. He could be bothered to come on here and moan about it though…..

Harsh. I'm out at work all day. If I have to faff about, even for an hour, it can cost me more than I'll ever save.

 

[Notch7]

I’d expect nothing less from you - if there’s a more expensive way of paying for something, you’ll find it - energy, broadband, mobile phone contract…Still, it gives you moan to about how expensive things are for you and blame it on something else, usually Brexit or the conservatives.

I hate the way the market doesn’t reward loyalty but instead rips off loyal customers.

I was with AA for about 25 years, now I have to swing between RAC and AA

I was with Direct line for car insurance for 20+ years, now I have to switch nearly every year.


I’m sick of this sh1t system

 

[Mottie]

I’m sick of this sh1t system

At least you do something about it. What do you think of those that don’t?

Just for clarity, do you agree that the 'system' is nothing to do with Brexit or the Conservative Party?

Edit: Looks like Nosey blames the conservatives. No surprises there.

 

[Notch7]

Harsh. I'm out at work all day. If I have to faff about, even for an hour, it can cost me more than I'll ever save.

People often get problems with switching: disappearing credit, direct debits go up, etc etc.

In any case since the collapse of the energy supplier market and the rise in prices, switching hasn’t been an option.


I find money saving expert gives excellent advice, they look at whether fixed deals are worth it.

https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/