Energy Prices: Small Supplier? Finding a good deal

[Guest]

We're being told we should switch to a small energy supplier to get a better deal.

The managing director of Ovo was boasting (during the HoC select committee meeting this week) that we could save 13 % with him.

Last night on Question Time we were pointed to Good Energy by one of the panellists.

And hasn't Ed Milliband switched to Ecotricity?

I've tried all three and they're making offers which are not competitive with my present supplier, SSE. So quite simply, has anyone found a lower price deal amongst the small energy suppliers which beats the prices of the big 6.

Getting a quote from Ovo was quite revealing. I loaded all my consumption statistics to their web site, including details of my present supplier, and they came back with a statement that I could save £269. That sounds like a good deal, until you drill down to the actual rates and total prices where I discovered that, on the contrary, their quote was £150 higher than that I'd had from SSE. I'd be tempted to say that Ovo were being deliberately misleading. I have e-mailed them about this quotation process and asked them for comments on what I found, but they haven't replied!

Does anyone here have any tips - there seems to be plenty on another thread about getting cheap train fares?

[Dave2002]

AIC

>>>Does anyone here have any tips - there seems to be plenty on another thread about getting cheap train fares?

Sorry - I tried to follow this line a few years ago, and I had periodic nagging that "we're losing money by not switching ....". Every time I did a simple check I found that our (then) current contract with British Gas was best, and then when I checked further and more carefully I found exactly the same thing.

We did change suppliers once or twice around ten years ago, but the benefits of doing so seemed fairly minimal. I think we have done better by trying to reduce consumption, and taking reasonable precautions to conserve energy - insulation, cavity wall insulation, double glazing, low energy bulbs where appropriate, etc.

The other problem with switching is that the conditions can change quite rapidly, as with bank accounts. Mrs D recently got fed up with one bank/account, so set up another one, which took a long while and was tedious. Within a few weeks the conditions on the new one changed, so the effort was largely wasted, and the money has now been moved to yet another account.

My view, which might of course not be correct, is that the major energy suppliers are more or less a cartel - even though they're supposed not to be - and that there's little point in rapid switching unless you really like doing that sort of thing.

[MrGongGong]

Nice to see how competition is driving down prices and making things work better ........ NOT

What a total waste of life, I really resent having to spend more than is absolutely necessary on deciding where to pay my bills, there seems to be some kind of idea about that we should all be terribly interested ALL the bl**dy time !!!!!!!!
I don't have much money but why should I waste my time with this shite ?

Here's a tip.........They are all crooks, they ALL are only interested in making huge profits and we have given away valuable assets to evil bastards and NO ONE (like with Gove's "Free Schools") is suggesting that we maybe do things another way .........

GRRRRRRRRRRRRR

[jean]

My view, which might of course not be correct, is that the major energy suppliers are more or less a cartel - even though they're supposed not to be - and that there's little point in rapid switching unless you really like doing that sort of thing.

I'm sure that's correct.

At the moment we are threatening npower with leaving, and they are making noises about giving us a better deal. We'll see how that works out.

[Dave2002]

Nice to see how competition is driving down prices and making things work better ........ NOT

What a total waste of life, I really resent having to spend more than is absolutely necessary on deciding where to pay my bills, there seems to be some kind of idea about that we should all be terribly interested ALL the bl**dy time !!!!!!!!

As I wrote my earlier post I was reminded of going to live in the USA. This was following Reagan's attempts to promote competition and break up phone company monopolies. We wanted a phone installed - how to do it? We found out that there was a number to dial. The conversation went something like this.

Adviser: "I am required to tell you that there are 8 companies who can provide you with service."
"Yes, but which one should I use?"
Adviser: "I am not allowed to tell you that or make a recommendation."
"So how do I find out?"
Adviser: "I'll give you the numbers to ring, and you can check with them."

... spends time giving me the numbers, including 2 or 3 major operators, at the time possibly AT & T, Sprint, MCI, plus a number of small ones.

We phoned the major operators, and got some basic information on each.

Some of the smaller operators didn't even answer the phone, even on several attempts.

Eventually just picked one of the big operators out of the hat, and went with them. Later on we changed once or twice.

In fairness, once we had selected an operator it was probably a lot quicker geting a phone connected than doing the same thing was in the UK at the time, though there was the added complication of having to select two operators - one for the local connection, and one for trunk calls.

Hilariously I noted that perhaps a decade later, most of the small operators had gone out of business, and the big ones had merged.
So much for trying to break down a monopoly by competition.

[An_Inspector_Calls]

My view, which might of course not be correct, is that the major energy suppliers are more or less a cartel - even though they're supposed not to be - and that there's little point in rapid switching unless you really like doing that sort of thing.

I've switched four times in as many years. I'm very conscious of electricity prices because we have a heat pump, and our only energy use is electricity. I've managed to keep our prices just about level for those four years, but it looks like I'm in for a hit this year.

[Serial_Apologist]

I've switched four times in as many years. I'm very conscious of electricity prices because we have a heat pump, and our only energy use is electricity. I've managed to keep our prices just about level for those four years, but it looks like I'm in for a hit this year.

Three months ago I received a proforma letter from E-on forewarning of impending price rises. Even so, I was shocked and infuriated to receive notice that my gas direct deductions were to be almost doubled from the end of October, in expectation of my winter consumption. Admittedly I pay by electricity to the same company by cheque, but one never knows what economic fortunes lie ahead so I like to retain a bit of loose rope when it comes down to it; I may have to change my mind if E-on have not grossly misestimated my usage, and either go on a dual deal or think about changing, though the last time I went to a price comparison site it seemed that on a dual arrangement I was on about the best deal available. I've long suspected the change to a small supplier advice to be suspect, and that the Coalition hasn't a clue what to do about the monopoly in being. As for Miliband's idea of a price freeze... head-scratch emoticon...

[Anna]

I went on a price comparison, having heard about Ovo, but they weren't listed so I went directly to their website - it turned out I would be paying way more with them. At the mo I am with Swalec dual (which is part of SSE), I find by switching to their fixed price for 1 year I can save £68pa, that was the best deal the comparison site could come up with for me.

What really irked me, in the MPs grilling of power bosses, was the comment by boss of (forget - what it E-on or SSE?) that their profits were only a fraction of those made by mobile phone companies. Er, excuse me, what sort of excuse is that? Pensioners haven't died through being on the wrong tariff with O2 have they ...

S_A, do you know if you pay direct debit for dual fuel you automatically get, I think, £80 off annual bill (just surprised you are still paying by cheque) As for Ed M's price freeze, head scratching here too

[Serial_Apologist]

I know, Anna, I know! [Headbanging emoticon]. The insecure side to me tells me to keep at least one of my two options as a cheque payment, in the event the bank goes down the tube and I can't get at my dosh until it's sorted. [Doh].

[amateur51]

I did as bidden by my mate Dave and put my details into a price comparison site only to find that my consumption is so meagre that no-one could beat British Gas Dual Fuel and most would cost a lot more.

No credit is due to me except for my wearing lots of layers - I just live in a relatively small flat which is very well-insulated - if I fire up the gas grill to make a round of toast first thing, it generates sufficient heat to keep me snug until another round mid-afternoon

[Anna]

I know, Anna, I know! [Headbanging emoticon]. The insecure side to me tells me to keep at least one of my two options as a cheque payment, in the event the bank goes down the tube and I can't get at my dosh until it's sorted. [Doh].

Oh Dear, I think that is known as High Anxiety. If you are so worried about your Bank (and remember, we do not live in Greece or one of those other European countries), then take your money out and hide it in your sock drawer (or under the bed)!
Honestly, there is being insecure and - losing money through insecurity which, to be brutally honest, equals, well, being a bit daft! <banned huggy emoticon>

No credit is due to me except for my wearing lots of layers -

Gosh, me too! Bring back vests I say! :-) I layer up as well, silk camisoles are really good at trapping body heat, why should we think we can wear t-shirts in December?