Switching Energy Providers
Switching Energy Providers
Switch! This is the single simplest way of saving money. The savings I made are considerable and the process of switching was so simple.
Money Savings range you could have employing this measure.
Carbon Dioxide emission range that could be saved with this measure.
I switched using uSwitch on the 23rd JAN 2014. The table below shows the savings I will make, they are considerable and the process of switching was so simple, please read on by clicking "more" below the table. I will now be switching each year to maintain these prices.
|Supplier||Year||Electricity (Pence/kWh)||Electricity Standing Charge (£)||online discount (£)||Electricity Units Consumed (kWh)||Total Electricitry ex-VAT(£/Year)||Total Electricity +VAT (5%)|
|Electricity Npower||Late 2013 rates||16.42||0||0||6000||985.2||1034.46|
|Electricity Ovo||Fixed 2014 contract rate||10.9||100||-28.5||6000||725.5||761.775|
|Supplier||Year||Gas (Pence/kWh)||Gas Standing Charge (£)||online discount (£)||Gas Units Consumed (kWh)||Total Gas ex-VAT(£/Year)||Total Gas Cost +VAT (5%)|
|Gas Npower||Late 2013 rates||4.475||50.01||0||20000||945.01||992.2605|
|Gas Ovo||Fixed 2014 contract rate||3.55||94.86||-28.5||20000||776.36||815.178|
|Supplier||Year||Total Cost inc VAT||Saving (£)|
|Totals Npower||Late 2013 rates||2026.7205|
|Totals Ovo||Fixed 2014 contract rate||1576.953||449.7675|
Like most I am lazy when it comes to changing energy provider. I also feel aggrieved that as a loyal customer of an energy provider that I have to switch to get a sensible deal. Energy companies trade on our desire for an easy life, which when you realise you will have to change provider each year to maintain a reasonable tariff is very understandable. In response to a few remarks on this site we have decided to give it a go. We will post each stage of the process as it happens in this article, to share how easy or difficult it is.
First thing I did was to go onto http://www.uswitch.com (confusedaboutenergy has nothing to do with uSwitch by the way). The uSwitch site works well, I'm not sure if it could be much better. First I estimated my annual consumption at 20,000kWh for Gas and 6000kWh for Electricity. This is fairly average UK consumption. The site asks for your current provider; mine is npower (on standard tariff). It then shows you your current rates. The picture is a screen grab from the site showing this. EXPENSIVE! Electricity is16.42p per kWh and Gas is 4.475p per kWh.
The uSwitch site then shows you various options, one had a variable rate, I excluded that; what is the point of a variable rate??? They could increase it at any time back to what you were paying previously., I guess this is down to trust. Of the other three I Googled the companies to get reviews on their customer service. Based on this I opted for OVO.
Below is the tariff I chose and I should save £450. Believe me I am not Marketing OVO here I have every expectation that the price will massively go up at the end of year one and I will be switching again, such fun! I will post this as it happens.
This is the welcome e-mail from Ovo, minus my address!
1. Your welcome pack arrives
It confirms your contract agreement and what we'll do to set up your account with us, including how to track your transfer online.
2. The transfer begins
After your cool off period ends we'll apply for your supply to transfer to us.
3. Submit your opening readings
A couple of days before we switch your supply we'll ask you for your meter readings. We'll need these to open your account.
4. You're now an Ovo customer
Your transfer is complete! As part of your contract, we work with Cool Earth www.ovoenergy.com/coolearth to protect an acre of rainforest on your behalf.
We're happy to have you onboard!
The Ovo team
I wonder how they protect the rainforest?
This is ongoing so more will follow over the next two months, it apparently take up to 6 weeks to transfer because you have to provide 30 days notice to your existing providerThe next exciting installment of SWITCHING, Date now 6th FEB 2014
A very clear correspondence from OVO arrived in the post about 8 days after initiating the process, basically asking me to check all the details. The only details I was unsure about were the gas supply number and the electricity supply number. These are numbers unique to the meters in a property, I eventually found them on bills from my current supplier and they matched so no worries there.
The only thing unclear on the letter is when I tell them my final meter readings! This is mentioned on the opening e-mail, they should repeat this on the letter I recon, just an idea.
A few days later npower wrote to me telling me “Please call us on 0800 197 3937 to talk about finalising your gas account”, and to not cancel my direct debit yet so they can collect cash or refund.
Apparently they don’t want me to leave, that’s nice, it brought a tears to my eyes. Apparently they may be able to offer a better deal. In other walks of life 13 years of loyalty is rewarded but in the energy sector it is penalised unless you switch provider or threaten to leave.
A quick idea for npower customers, call the number above and select option 1. They answer really fast and then start negotiated, they are not going to offer better rates unless you try to leave. Worth a go, you may be able to avoid the whole switching process, go armed with data from uSwitch!
Having gone through security questions where the only thing they did not seem to want was my shoe size, I was offered the possibility of better rates, I explained I was doing an article on transferring so I would talk next year on this. I asked did I need to have called them as the letter implied and they said no, it was just to check it was not an erroneous transfer, so you do not need to call if you get this letter. Clearly it was to see if they could get back my custom.
I bet you can barely contain the excitement waiting for the next installment!
Well here I am again!
The next stage is to wait and them wait a bit more . I received a mail from OVO in late Feb to tell me to submit my meter reading readings, this I did and a week late Npower popped round to check them.
OVO stared taking money when they said they would and nPower stopped taking money. I called nPower 2 weeks after the switch to see if they owed me cash. They did and by marvellous coincidence at the click of a mouse button a charming man was able to transfer the money to my bank account at just that moment. One does wonder if they wait as long as they possibly can to get as much interest on your money as possible. Or am I Being cynical? - I suppose two weeks is OK it was just so co-incidental.
In conclusion. Switching is EASY! and will save 20% on my bills. which is more than average, which just shows the Npower standard tariff to be rather high.