Energy Companies - Does it ever pay to stay?

[BERGS2]

HI All -

Just coming to the end of our Sainsburys Energy Fixed Feb 16 dual fuel tariff.

Have looked online on the account and it offers a 'switch' tariff (Fixed Price July 2018) that is 4.57p/kwh Gas & 15.2p/kwh - U-switch show Eon @ 3.36p & 9.57p respectively

Does it ever make sense to stay with an energy co for over a year? If it wern't for the fact that getting hold of them involves a 30minute wait / general fannying around I'd call to see if they have other rates - as i do like the online usage stats - but not enough to spend an extra £500 a year on fro the same energy.

[heisthegaffer]

I can't imagine there is any benefit from being loyal sadly.

I changed from one utility company to another company recently who were cheaper in every area but what did it for me was the standing charge was over 20p cheaper a day. The new company took care of everything and i didn't need to contact them at all.

A shame as I really liked the previous provider's interface, really clear and easy to change my monthly payments etc.

[oblio]

I have changed twice now in the last 2 years. On the first occasion I rang SSE and discussed it with them as we had been a customer for many years. They could do nothing to near the E.On deal at the time. Then this January I switched again as E.On were putting it up by c.£350 so I am now with OVO. E.On did advise their best tariff but it was miles out.

We shall see what this year brings as I suspect this shall be an annual thing from now on

[Greshamst]

I'm on the same tariff and have just swapped via Moneysavingexpert's big collective switch to British Gas (same company) fixed for a year. Works out a fair bit cheaper. You get £30 cashback as well.

google cheapenergyclub.

[shakotan]

I'm with First:Energy and when it came time to renew this month they were not the cheapest, but only two from the bottom when I looked on comparison sites. The annual projected difference was only around £30 and those two companies that were cheaper were relatively unknown and didnt have much in the way of reviews, so I was happy to say with my current provider.

[Composite Guru]

I biffed out the big companies for OVO about 5 years ago.

Personally they are pretty well priced in the market but aren't complete morons when it comes to bills. The amount of hassle I've had with NPower EON etc with wrong billing is unreal.

You earn 5% interest on any money you have over paid so its a win win in my opinion as that interest is subtracted off of the bill every month.

[dirty_dog]

oblio said:

I have changed twice now in the last 2 years. On the first occasion I rang SSE and discussed it with them as we had been a customer for many years. They could do nothing to near the E.On deal at the time. Then this January I switched again as E.On were putting it up by c.£350 so I am now with OVO. E.On did advise their best tariff but it was miles out.

We shall see what this year brings as I suspect this shall be an annual thing from now on

Weird, I was with SSE, then Eon and mid way through a switch to OVO now.

[Simpo Two]

Composite Guru said:

You earn 5% interest on any money you have over paid so its a win win in my opinion as that interest is subtracted off of the bill every month.

Is there a limit on that?

[Mattt]

There wasn't as of a year ago, however Ovo weren't the cheapest anymore for me so switched.

[ctdctd]

In answer to the OP:-

I am currently with Eon on a dual fuel fixed rate paying £630 per year by DD.

If I had never switched, I would still be with BG for gas and EDF for electricity and paying £950 per year, quarterly by cheque.

I first switched about 10 years ago and have probably switched suppliers 4 or 5 times with no problems.

Savings over that period in excess of £3000.

So no, it does not pay to stay loyal.

Edited by ctdctd on Monday 8th February 07:22

[crankedup]

oblio said:

I have changed twice now in the last 2 years. On the first occasion I rang SSE and discussed it with them as we had been a customer for many years. They could do nothing to near the E.On deal at the time. Then this January I switched again as E.On were putting it up by c.£350 so I am now with OVO. E.On did advise their best tariff but it was miles out.

We shall see what this year brings as I suspect this shall be an annual thing from now on

Like-wise but different companies. Cannot see any reason to be loyal if any company is more expensive than competitors. The only exception being service quality if that's good and price is close enough to competitors it can be swallowed.

[Composite Guru]

Simpo Two said:

Is there a limit on that?

I don't think so but they do set your monthly payment if you do DD. They will lower your payments if after the first year you are overpaying by too much.

[budgie smuggler]

Greshamst said:

I'm on the same tariff and have just swapped via Moneysavingexpert's big collective switch to British Gas (same company) fixed for a year. Works out a fair bit cheaper. You get £30 cashback as well.

google cheapenergyclub.

What am I looking for on there? No BG tariffs seem to be coming up when I run through it.

(Want to stay with them to keep my smart meter working as I really like it)

[littlebasher]

And the comparison sites aren't much help

Uswitch claimed I could save £500 a year (based on actual consumption) with my current supplier. Clicked on one of the supplier links and it calculates the DD as being £5 a month more than I currently pay.

All a load of bks if you ask me!

[budgie smuggler]

budgie smuggler said:

What am I looking for on there? No BG tariffs seem to be coming up when I run through it.

(Want to stay with them to keep my smart meter working as I really like it)

Argh bawbags. Just spoken to them on the phone, and it looks like you had to be registered on there before the 31st of Jan to get the deal.