Fuel


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Supply of gas and electricity has become a mishmash of competing companies all claiming they offer the best deals. The Big Six energy companies have been severely criticised for making huge profits at a time when fuel prices worldwide have collapsed. In 2016. on line pressure group 38 Degrees has even suggested a possible boycott of the big six until they take notice.  Certainly there seems to be no logic to the prices and companies depend on the majority of people finding it too much bother to move. On top of this there is a whole industry of companies who make a living from the commission that can be made by moving people from one company to another. Some have no incentive to find you the best deal. They may just suggest the company which pays the biggest commission. As an example one of my contacts moved from a big six company to the lesser know First Utility. The previous company was going to put his monthly bill up to over £130. He now pays £76 a month for dual fuel for a large detached house. Even after the winter of 2015/2016 he finds he is over £200 in credit.

I had a similar experience. At the end of a fixed deal the company was going to increase my monthly charge from £115 to £134.  I moved to another big company and reduced the charge to £94.  At the end of that deal the cost was set to rise again and I returned to the first company, now back to £92!  I also got a late repayment from the first supplier and am about to receive a small payment from Moneysavings Expert (see below) as I acted on their advice as to when it was a good time to change !
So the moral of this tale is that loyalty does NOT pay. In fact the opposite. Fixed deals are intended to lure people in with the hope that they will stick with the company at the end of a year,when they will be put on a much higher Standard scheme

When trying to get as much as 1% for your savings is difficult, consider that I am saving over £500 per annum by a simple move.  
I suggest TWO links you should try  
1:. http://www.moneysavingexpert.com/cheapenergyclub.
and 2 The official OFGEM page at http://www.goenergyshopping.co.uk/

My own opinion is that far too much money is being wasted on this constant changing.  They must be employing additional staff who do nothing but process the changes.  The government i.e. OFGEM, should fine companies using such tactics, which cost people such huge amounts, particularly those who haven't the ability (for one reason or another) to keep changing supplier.

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