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Are energy price comparison sites just a con?

Shuggie

Shuggie

Trade: Ammonite Audio
I'm intelligent enough to know that we should all be keeping a close eye on energy costs, getting the best deal, and being disloyal to any one energy provider. Some years ago I did save a lot by switching from separate electricity and gas suppliers to a single supplier - a complete no-brainer. But, from that point onwards, any savings promised by price comparison services have not borne scrutiny with the most basic arithmetic, let alone a spreadsheet or pocket calculator.

Some years ago, one well-known switching site (sounds a bit like Switch-U) promised to save me more than my entire energy spend, if I switched to NPower, so I smelt a rat. Unsurprisingly, the maths showed that I was better off with my existing supplier. That was an extreme case but every time I've looked at available deals through price comparison sites, claiming to save me money, the costs of gas and electricity per kWh and daily standing charges were in almost every case more than with my existing supplier, and where a saving did exist it was so small as to be almost insignificant. So, in most cases I'd actually be worse off by switching. In recent years I signed up to my local council's group switch which ought to sniff out the best deals, but again, no actual saving once the numbers are examined.

Government keeps telling us to switch and to use price comparison sites/services; and it seems they will sell on our personal details to other energy providers if we fail to switch, but I'm increasingly of the view that price comparison sites are mostly a cover for earning themselves commission and very little to do with benefiting consumers. Yes, anyone on separate, legacy gas and electricity supply contracts can save money, but that only happens once.

Am I missing something? How many simply put their trust in the comparison sites without looking at the actual numbers?
 
They’re all just sales channels - standard affiliate marketing.

It’s only because there are (almost literally I suspect) millions of tariffs out there that people aren’t able to easily make a fair comparison.
 
I think you are right Snuggie.

I used to switch every year, but since the watchdog has forced changes there are no better “deals” to be bad.

My current supplier takes about a month to answer a email, which might be a reason to switch, but it has actually put prices down due to demand and supply on gas, so I won’t.

Oh, and when it does answer it just says “will be in touch shortly “!
 
The drive to lowest price will always result in poorer service. I’ve found the cheap energy club on moneysavingexpert.com to be pretty reliable.

In the interests of balance I have switched pretty much every year for 5 or more years and have saved money, compared to the renewal offer from the company I was with at the time, every time.
 
I was quite surprised when, within this last year, more than one comparison site, reported :

'There are no better deals. You are on the cheapest tariff.'!
 
If I were to switch, it would not be for the lower cost, because I think the potential savings are mostly a) modest and b) illusory, as per the OP. But I could be tempted to switch to a provider which undertook to provide all electricity from renewables.
 
The whole thing is designed to confuse. It's the washing powder scenario, there are so many different choices that paralysis sets in and you just stay where you are. I remember my current provider had some blurb on the bill saying I could save £80-odd on gas and £30-odd on electricity, when i rang up and said "go on then" it was £8 pa on one and 90p on the other a year if I signed up to blah blah blah. No thanks.
 
Most If not all lie and say you will save x amount. They then set your monthly payment based on that lie. A few months later they ask you to increase the DD as it won’t cover the average annual bill.
 
last year i checked scottish power for their deals as i do often . couldnt find much , but found a cheaper deal with scottish power on U switch
very good vfm and cheaper than theirs . highly recommended
 
There are seldom many significantly better deals if you are already away from the variable ones. Keep a note of unit prices and your annual consumption, but be aware of the impact of standing units/consumption units ratios because superficially cheaper deals sometimes unwind when you do the maths.
 
Sue Pertwee-Tyr said:
If I were to switch, it would not be for the lower cost, because I think the potential savings are mostly a) modest and b) illusory, as per the OP. But I could be tempted to switch to a provider which undertook to provide all electricity from renewables.
Click to expand...

Such as my supplier, Bulb. Or rather, I believe that they ensure that for every unit they supply from the grid, they ensure that a unit is supplied to the grid from renewable sources. The specifics are on their website.

‘Recommend a friend’ link available for a bit of a discount if interested.
 
If you're looking for a better deal, and who isn't, I can recommend a company called Flow. 3 years ago I was with Npower and paying arouen £95, on changing I was paying £51 and now £61. As I remember the unit price was only slightly lower but the standing charges were only about a quarter of Npower.

I'm still with them unsurprisingly and until something better comes along!
 
hifinutt said:
last year i checked scottish power for their deals as i do often . couldnt find much , but found a cheaper deal with scottish power on U switch
very good vfm and cheaper than theirs . highly recommended
Click to expand...
You may be ok with them, until you switch...then try getting correct meter readings! I would not touch any of the 'big 6' now (is it still 6?).
 
Jamie said:
You may be ok with them, until you switch...then try getting correct meter readings! I would not touch any of the 'big 6' now (is it still 6?).
Click to expand...

ah i am with scottish power , i just found a cheaper deal with them on u switch
 
hifinutt said:
ah i am with scottish power , i just found a cheaper deal with them on u switch
Click to expand...
If you are just switching tariff without changing supplier you should be ok. I left them for a fix with So Energy, and it took weeks to get them to agree with the meter reading I took for gas on the switch date. Never had any problem when I switched from So to Avro, my current supplier.
 
Anyone want a link for £50 credit when you open an account with Octopus PM me.

I'm with them. Service second to none.
 
I no longer use these sites for the reasons outlined above by others.

The days of being able to make significant savings by frequently switching supplier are long gone. When your current deal comes to an end the best you can do is set up your own spreadsheets to compare rates, including standing charges if any, across half a dozen of the major suppliers by checking out their websites or phoning them up. And I steer clear of small new entrants on the basis that they simply aren't worth the hassle, at least to me.
 
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