When it’s over-promising.
As a brand new power provider, we’re working arduous to repair the issues of the trade. We’re taking further care to make shopping for power simple for our prospects and our costs fully clear.
However not everyone seems to be doing the identical.
In the event you’re known as by your previous provider halfway by way of your swap, think about their supply fastidiously. Listed below are three inquiries to ask to verify their deal is price taking:
1) What are the unit charges and standing cost?
Unit charges are the value you pay per unit of power you employ – in the event you use extra, you pay extra, and vice versa. In case your previous provider reduces your month-to-month Direct Debit however retains unit charges the identical, you may not have sufficient in your account to pay for all of your power.
Your previous provider may also divert your consideration from unit charges to the standing cost. The standing cost is a flat every day charge that stays the identical regardless of how a lot power you employ. In case your previous provider’s standing cost is cheaper than ours, they may use this to influence you to remain, but it surely has a lot much less affect in your invoice than unit charges.
2) Can I’ve full tariff data, together with the annual utilization estimate?
A full tariff breakdown will present your unit charges, standing cost, and annual utilization estimate.
So far as utilization goes, we use what you gave us through the sign-up course of, which is both your personal determine or the Ofgem Low, Medium, or Excessive values. In case your previous provider hasn’t requested for a utilization estimate from you it is positively price checking their financial savings are on the precise foundation. In the event that they’ve underestimated your annual utilization you possibly can end up with a hefty debit to clear on the finish of the 12 months.
3) What tariff will I default to as soon as the present deal ends?
If, after doing the entire above, you discover official financial savings, now we have yet one more piece of recommendation – many suppliers transfer you to a costlier tariff on the finish of an affordable fastened deal, so in the event you neglect to change or ask for a greater value, you possibly can find yourself paying extra down the road. We lined this extensively in our weblog and on the BBC’s Cash Field program. Maybe not an enormous deal in the event you’re an everyday switcher, however in the event you’re after long run worth, you would be higher sticking with us.
It’s going to be a while earlier than the trade is actually open, so within the meantime keep vigilant – some offers actually are too good to be true.