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Switch or stick?

Making your money go further
Fluke
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Switch or stick?

#363477

Postby Fluke » December 6th, 2020, 1:51 pm

After reading through the very informative Octopus thread just below I decided not to do my annual rabbit-in-headlights impression when my yearly tariff was up for renewal and lunge for the first quote I'm offered to stay with my current provider. This time I stayed calm, got my bills out, attempted to make head of tail of them, and then did some proper comparing and contrasting between all the various providers and tariffs. Well a few of them anyway, here's how it panned out, let me know if I’ve missed anything glaringly obvious.

My current provider is Eon and the deal I'm on is called 'Fixed Online v32' which expires in a few days time, I’ve added it to the table for comparison purposes along with the new tariff they’ve offered me for the coming year which is called ‘Fixed Online v43. The Octopus and Igloo quotes are for their respective 1 year fixed tariffs.

*To get to the annual figures I multiplied the unit charge with my actual usage figures for the year as provided by Eon:

Electricity: 1572 KWh
Gas: 9453 kWh
Standing Charge: multiplied the daily standing charge by 365.



So as you can see Igloo comes out cheapest but there’s not much between it and Octopus.

Eon, the more expensive of the three also comes with strings attached, a £60 exit fee plus, if last year was anything to go by, 6 months of being harangued to get a smart metre (which I resisted). The other two don’t have these strings as far as I can see.

So looks like I’m switching but the clincher will be if either of the two offer a further incentive, I saw mention of a £50 cashpack for switching, I think with Octopus, but I couldn’t see any mention of it on the website.

Useful exercise which saves me about 70 quid on my bill, all I have to do now is remember my spreadsheet this time next year.

Gersemi
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Re: Switch or stick?

#363556

Postby Gersemi » December 6th, 2020, 7:09 pm

Fluke wrote:


So looks like I’m switching but the clincher will be if either of the two offer a further incentive, I saw mention of a £50 cashpack for switching, I think with Octopus, but I couldn’t see any mention of it on the website.



You normally only get cashback for switching via a comparison site - so I wouldn't expect to see it on the suppliers website.

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Re: Switch or stick?

#363560

Postby AJC5001 » December 6th, 2020, 7:20 pm

Gersemi wrote:
Fluke wrote:


So looks like I’m switching but the clincher will be if either of the two offer a further incentive, I saw mention of a £50 cashpack for switching, I think with Octopus, but I couldn’t see any mention of it on the website.



You normally only get cashback for switching via a comparison site - so I wouldn't expect to see it on the suppliers website.


Some suppliers have 'Recommend a Friend' deals. I know I got £50 for me and the 'friend' also got £50 when I first went with Bulb.

It seems they still do https://bulb.co.uk/referral/

I'm still with Bulb if you fancy being referred. :)

Adrian

Fluke
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Re: Switch or stick?

#363587

Postby Fluke » December 6th, 2020, 10:16 pm

Some suppliers have 'Recommend a Friend' deals. I know I got £50 for me and the 'friend' also got £50 when I first went with Bulb.

It seems they still do
Moderator Message:
link deleted because I made a muddle about another request, please tell me the correct link if this is needed/wanted, dspp


I'm still with Bulb if you fancy being referred. :)

Adrian


Thanks for the offer Adrian, I just plugged the numbers for Bulb into my spreadsheet and actually it came out quite pricey compared to Igloo and Octopus. I've emailed Octopus to see if they are still doing their £50 switch incentive, if they are I'll sign up with them as they seem pretty good. I like that Which? has recommended them.

Fluke
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Re: Switch or stick?

#363632

Postby Fluke » December 7th, 2020, 9:38 am

Looks like it is Igloo not Octopus who are doing the £50 reward for signing up, don't know if it is still valid but I'll give it a go.

Moderator Message:
Moderator Message:
link deleted at OP request, see next post for explanation, dspp

Fluke
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Re: Switch or stick?

#363706

Postby Fluke » December 7th, 2020, 1:24 pm

Fluke wrote:Looks like it is Igloo not Octopus who are doing the £50 reward for signing up, don't know if it is still valid but I'll give it a go.


Well this is an interesting turn up, turns out the link I provided above was from an ad (which showed up at the top of my search I might add) which had been placed by an existing Igloo customer inviting people to be referred by him as a 'friend' in order to get the £50 credit. I followed the link which took me to Igloo's website and filled out the form to sign up but just before I clicked sign me up I emailed them to ask if the offer was still valid. That set off a train of emails and for a while I thought I might have been the victim of a pharming scam, but I have just received an email from Igloo saying that it wasn't a scam but the ad was a breach of the Ts&Cs but they are going to honour it anyway.

All's well that ends well but please do not follow the link, I'll ask the mods to remove it.


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