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Energy contract

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Franbern Mon 19-Dec-22 08:49:04

I have been very fortunate this winter as I was still locked into my EDF Fixed energy charge.

This now expires at end of Janauary 2023, so I started to look at what alternatives EDF could offer from then onwards. I have been with EDF for a long time, and always - in the past - as one contract came towards it close, would be able to look at several alternatives.

However, this time nothing like that. Just ONE new contract offered - take it or leave it!!!! Not a fixed contract either, so will obviously increase quite often!!!

I know that my flat is reasonably cost effective with regards to energy, so I will still be paying a lot less than many people on these threads have mentioned. I do need to ensure that I am with a company that is signed up to Government schemes as I am on Pension Credit and that £150 I get each year is such a great help.

However, for the first time in very many years I feel that I really need to see if any of the other companies can offer me a better deal - I really do prefer fixed amounts so that I can know exactly how much I am spending.

Any suggestions, please?

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tanith Mon 19-Dec-22 08:53:37

Try Moneysupermarket you can compare providers there and see the deals best for you.

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BeverleyJB Mon 19-Dec-22 08:58:36

You can find which tariff is best for you here:
Clubs.moneysavingexpert.com

I think you'll find that there isn't much choice of tariff now and there probably aren't any fixed ones either.

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Pittcity Mon 19-Dec-22 08:58:48

I usually go to uSwitch.com to compare deals but due to the current situation you may find that the variable rate is a much better deal in that the rate per unit is much lower.
The rate may vary but you can still pay by a fixed amount every month.
At the moment, unless you have a crystal ball, it's very difficult to predict what will be a good deal.

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Franbern Mon 19-Dec-22 10:52:22

Thanks, everyone. Checked on both of those sites. Seems as if the one that EDF is offering me is cheaper than anything on those, so will stick with them.

What really annoys me with this increased energy costs is the Standing Charge. So my gas one will rise from 20.08p per day to 28.48p per day and the leccie one hikes up from 24.59p per day to an incredible 52.64p per day. Cannot work out how anything happening in the energy world can justify these.

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M0nica Mon 19-Dec-22 11:24:13

Franbern Here is a link that explains it all far more effectively than I can myself. www.goodenergy.co.uk/what-are-standing-charges-and-why-are-they-increasing/

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Franbern Mon 19-Dec-22 12:46:51

Monica seems to mean that we, the consumers, have to pay the costs of failed companies. Note that shareholders in non-failed companies still get large dividends.

I always understood that capitalism meant that anyone purchaisng shares in any company took the risk in getting good dividends, but also of loosing their investment monies.

We, poor mugs, non shareholding consumers are having to pay these costs also.

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M0nica Mon 19-Dec-22 19:45:44

Franbern Interesting article here www.current-news.co.uk/news/ofgem-to-lower-shareholder-returns-and-direct-investment-to-greening-local-networks

Ofcom controls dividends. Only the first couple of paragraphs really matter and this suggests dividends are tied to the Consumer Price Index, the one the government prefer because it doesn't rise as fast as the old Retail Price Index.

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