How often should we change providers?

Jorumian

Facilitator
Sep 1, 2008
347
3
0
Birkenhead
Perhaps this may a salutory lesson for some.

This afternoon I decided to check that I was getting the best deal on my Gas and Electricity. This was inspired by me seeing the latest bank statement and seeing how much we are being charged a month for both. (£128 gas, £86 electricity. Yes I did nearly faint).

I would not mind but we have drastically cut back on our use, and short of supplying the gas to power something like... I don't know... Birmingham, I have no idea why ours is so high. Our boiler is old, but regularly serviced (and hopefully soon to be replaced with an A rated one).

However I felt that I would not find a better deal than my current deal which was with British Gas. I like to think of myself as someone who keeps tabs on the deals. So you can imagine how horrified and then delighted I was when I logged on and found I could save over £500 a year by switching to another company. I was staggered at the discrepancy in prices and I urge anyone who has not checked they are getting the best deal to do so. With gas prices so volatile, you may well be being charged the Earth, as I was. I checked on 4 comparison websites and this one deal I got seemed to be the cheapest on all of them. (For gas & electricity paid monthly via direct debit).

Suffice to say, I switched and I am now waiting for a huge bill from British Gas telling me this is what I owe them...

So my question is this, how often should we check our provider is the cheapest we can get?
 

Tony

What Consumer Founder
Apr 7, 2008
18,307
3
38
Bolton
Personally I check about once a year, but it is not easy to compare rates and it is essential to know how much gas and electricity you use. Personally I would like to see more standardisation so you can do an easy like for like comparison - like buying petrol or something.

Tony
 

Jorumian

Facilitator
Sep 1, 2008
347
3
0
Birkenhead
That's me precisely Tony, I always thought once a year seemed a good idea. It also gives you time to judge how well a providers is providing their service to you.

Perhaps in such a volatile market, the time in between looking needs to be shorter? But I know it can be a real pain to do this continually.

I agree what you say, standardisation of prices would be of great help. The discrepancy between what you could pay was astonishing.
 

Tony

What Consumer Founder
Apr 7, 2008
18,307
3
38
Bolton
The shocking thing is that people who are on meters or pre-payment cards pay do much more... again doesn't seem fair. I believe Consumer Focus is campaigning to change this though.
 

GlasgowGirl

Facilitator
Jul 22, 2008
287
0
0
I agree that it's not easy to do a direct comparison. Despite the fact that there are now websites like uswitch, all the providers seem to make their tariffs so complicated that it's really difficult to know who offers the best deal. I'm with npower, who recently whacked my gas bill up to more than 200% what it was previously! Because I knew I was moving house soon, I didn't bother switching companies, but I certainly won't be using them in my next house.
 

Tony

What Consumer Founder
Apr 7, 2008
18,307
3
38
Bolton
British Gas has today announced that they will reduce prices by 10% the others are bound to follow suit so it is probably worth leaving it a few weeks to see what happens.

Tony
 

Chutzpah

Moderator
Jan 9, 2009
618
1
0
twitter.com
I have only switched once as my current landlord is the first who just told us to switch if we wanted to - in all our other properties we had to get written permission to switch and it seemed too much hassle, coupled with the fact that we were very low energy users. This changed now we have a baby!

I find switching hideously complicated, even whilst using a price comparison. Ebico were cheapest for us with their flat rate cost, though I'm wary that with other providers using certain tariffs that charge at different rates/stages/whatever they call it we could save more. But at the moment I prefer simply knowing that each unit of gas and electricity cost x amount.

I now read the meter myself once a month so I have a good idea what the next bill will be.