You may remember my post about seamless switching utility providers. In this post I will analyse all the Ofgem registered companies looking at:
- Ease of site usage
- Cashback offered (by third party sites such as Topcashback, My Money Pocket or Quidco)
- The reputation of the energy provider
- Deals offered by the current supplier – are they present on the comparison site too?
|Energy Comparison Site||Easy to use||The cashback offered by the site||Reputation||Current supplier deals included||Other|
|Energy Helpline||Yes||No info on the site|
TCB & Quidco- offer £21-£42
|Don’t state the reputation of utility providers||No|
|High cashback for a dual-energy switch|
Quidco- £22.40- £44.80
MMP -£14.40- £18.80
|Yes||No||Side by side comparison vs your current plan|
|The Energy Shop||Yes but they didn’t have my tariff to choose from their list…||No||No- just starts but nothing else||No||Looks like the top savings aren’t as high as on other sites maybe because my tariff is not accurate? No cash back so AVOID|
|Yes||Yes||Savings seem to be the biggest so wort to compare this site against some other good one|
|My Utility Genius||Yes||Not on 3rd party cashback sites!!!||No||No||Side by side comparison vs your current plan but no cashback so AVOID|
|Runpath||Yes||NoNot on 3rd party cashback sites!!!||No||No||Side by side comparison vs your current plan but no cashback so AVOID|
Quidco-£26.6 single fuel
|No||No||Side by side comparison vs your current plan but no cashback so AVOID|
|Switch Gas and Electric||Yes||NoNot on 3rd party cashback sites!!!||No||No||No cashback so AVOID|
|No||Yes if you filter by supplier||I see suggested elsewhere cheap plan from EON is missing. I d avoid as neither the deals nor cashback are making it worth using|
|Unravel It||No – incorrect tariff to choose for gas, dated interface clumsy to use…||NoNot on 3rd party cashback sites!!!||No||No||Harder to use compared to the rest. No cashback so AVOID|
|No||No||I ?uSwitch although the cashback is low. But they have 1 more offer I haven’t seen elsewhere, so I will compare that offer vs the officers found in Cheap Energy Club and Energy Helpline.|
|Cheap Energy Club||Yes||Yes||Yes||Yes||I ?MEC. They have an ace filtering system –> you can narrow down/ expand your results. They highlight dubious reputation companies and state their cashback rates although beware you may get more on 3rd party cashback sites, so if you decide to go for a deal from their site do one more cahsback check on TCB, Quidco or MMP separately|
Having analysed all the above the easiest to use is Cheap Energy Club or MoneySupermarket as they not only check your current deals but also monitor them once you save your usage and refresh it should it change. They send you emails when they see a better deal for your utilities. Furthermore, MEC is the most comprehensive if you struggle to make an informed decision based on the reputation of your new company. Having said that I also check uSwitch as I like to double-check the offers on the market and having analysed all Ofgem accredited companies I see that a switch using Energy Helpline may offer the highest cashback of £42 for a dual-energy switch if we use TopCahsback separately to get the cashback.
How to switch energy supplier – my case shown in steps
Let’s see how my current tariff looks versus what I could be getting when checking my favourite utility comparison sites.
In 2019 we spent £1,123.15 on gas and electricity. Quite a lot! As our original tariff expired in April 2019 and my husband didn’t fix any better deal. There was also a supplier change. First Utility was bought by Shell Energy and those guys don’t have the most competitive prices…
The lesson for the future: DO CHECK YOUR BILL AT LEAST ONCE A YEAR TO CHECK WHEN YOUR TARIFF EXPIRES TO SECURE A GOOD DEAL!
With the tariff and supplier change, our tariff price skyrocketed…Electricity unit price went up by 32%, standing charge up by 54%. Gas unit price went up by 36% and standing price up by 160%. Eh, we are overpaying…Time to change it.
Cheap Energy Club top wide market (including sites where we can switch directly not when using CEC) offers are:
Now I don’t care about saving £25-£40 more if the company ‘saving me more’ is not reputable or maybe problematic with either its financial security or poor customer service…for that reason I am going to look at the companies which don’t have bad rating:
uSwitch top offers are:
As we can see Eon and Green Network Energy are also present as in Cheap Energy Club (CEC) results but here we see one more company which I didn’t see at CEC → ESB.
So now I will compare the:
- Unit and standing prices offered by all of them 4 companies
- The cashback offered by CEC, uSwitch (TopCashback) and Energy Helpline.
- I will switch via a site which offers the best cashback to maximize on my savings
Having understood our daily usage of electricity and gas I checked the unit rate between EON and Green Network Energy to multiply it by the daily usage to see if the standing charge is a deal-breaker. With our usage and the prices, it looks like EON is the best fit…
(daily electricity usage 4Kwh –>14.52 (EON)-13.6 (Green Network Energy)=0.92x4kWH=£3.68 standing price difference here 18.22(GNE)-10.5(EON)=£7.72)–?7.72-3.68=4.04
(daily gas usage – 50Kwh→ 2.76-2.48=0.28×50=£14, the standing price difference 21.13(GEN)-10.5(EON)=£10.63)–>10.63-14=-3.37
Saved £4.04 but potentially lost £3.37 which means I am still £0.67 ahead 🙂
I go to TCB to get £42 for this switch when completing it on Energy Helpline, not Cheap Energy Club as the latter offers only £25
- I do a quick check based on my postal code n actual usage to get the results and go for EON.
- I fill in the details and get the confirmation.
- Now I will wait for my welcome pack and I shall be switched in about 14 days and save about £333 on both utilities plus I shall get £42 of cashback so altogether I should be better of by £375 until February 2021.
- I requested Energy Helpline to monitor my deals and notify me when there is a chance to save above £50.
Futureproofing my method of optimising utility switch
- Go to Topcahback and check every listed by me at the top of this post company to see which one offers the best cashback (to check if switching any of those other than Cheap Energy Club (MSE)can earn you even more money if you can’t be bothered to stick to monitoring your spent vie Cheap Energy Club as they list companies offering cashback but its cashback from Money Saving Expert as its the owner of MSE whereas TCB may offer you more as they are a totally different company to Money Saving Expert)
- Run 2 independent checks using your postal code and usage data
- Analyse top 3 best companies on those two sites – if the results differ like in my case both uSwitch and Cheap Energy Club results were almost similar
- Go for the best provider in terms of rates but also the reputation
- Choose a site -to switch to your new utility provider -which offers you the best/highest cashback
- ENJOY your money-saving hack 🙂