Neil Faulkner outlines the problems that some Fools have had with gas and electricity companies.
Prior to moving flat three months ago, I went through three different gas and electricity suppliers: British Gas, EDF Energy and npower. In my new flat I'm back with EDF Energy. In another three months I'll have some summer usage and some winter usage to compare, so I can work out fairly accurately what my annual bill is. Then I'll compare tariffs and switch to the cheapest.
I've had no trouble switching in the past. It takes about a month, but there is no gap in service during the switch.
However, it's not always problem free, as some Fools have reported long waits for refunds from their old suppliers when they've been in credit at the end of their contracts. There have been plenty more interesting stories on our Utilities discussion board, where other Fools have talked about their gas and electricity experiences. So here's a look at some of the main issues that have emerged on our board.
Reclaim hundreds of pounds from your supplier
The most common complaint occurs when users find out how much they are in credit with their supplier. This happens when customers pay their bill by direct debit and the amount taken by the utility company is higher than the cost of the energy consumed.
If you want your money back you must be firm with your supplier. It's your money, which they have not yet earned. If a call doesn't work, write to them. If that doesn't work, follow their complaints procedure, which should be on their website, or switch to another provider. When you switch, they'll have to refund you. But a threat to switch will normally be enough to get the refund.
Ensure you don't pay other people's debts when you move home
When you move home, it's vital that you give a new meter reading to the existing supplier. One of our board users said that his supplier had tried to make him pay a debt left by the former occupant.
If you want to make doubly sure, you might want to send your meter reading by post or email, in addition to a telephone call. This should sufficiently cover your back.
Use the most accurate comparison tool on the Web
Many Fools get frustrated when they're trying to use comparison tools to find out which supplier is cheapest. The two main complaints are that, they believe:
- 1. The tools don't show them what the actual tariff will be (e.g. how many pence per kWh).
- 2. You can't enter the details of your existing tariff, so you have to rely on less accurate information, such as your past usage or how much you've been billed.
However, regarding complaint #1, most comparison tools do show you what the tariff will be. In The Fool's tool, for example, all you have to do is run your search to get the table, which is in order of best tariff to worst. Then, click on the tariff name and it'll show you the details.
Regarding complaint #2, I believe that typing in your usage or bills is good enough most of the time to save money, so it doesn't matter. However, typing in the tariff is undoubtedly the best way. What most people don't know is that you can actually do this through The Motley Fool's own tool, which I believe is the most accurate utilities tool on the Web.
Consider a not-for-profit supplier
EBICO is a favourite of our board users, receiving mostly positive feedback, whereas all other suppliers receive mostly negative feedback. People like it because it is not-for-profit and it has simple tariffs.
Many board users believe that it is always very competitively priced. Sadly, this isn't true. Sometimes its tariffs are off the mark. However, it is probably the most consistent, and you can be pretty sure it's not ripping you off, because of its not-for-profit status. It's certainly suitable if you'd rather sacrifice bill savings for a reasonably consistent supplier which gets good feedback.
The Fool's comparison service does include EBICO in its tables, as usual!
See how EBICO compares and find your cheapest provider through The Motley Fool's gas and electricity comparison tool.
How to use the most accurate gas and electricity comparison tool on the Web:
- 1. Anyone can compare prices using one of the many Energywatch-accredited services on the Web. All the information you need is on your statements, as you can simply enter the amount you've spent in a quarter or year, or you can enter the total amount of energy you've used.
- 2. For a super-accurate comparison, you can enter your tariff details, i.e. the pence per kWh that you pay, which is also on your statements. To do this, put your basic details in The Fool's own tool and then, on the second page, use the `Variable Tariff Search' button.
Visit our gas and electricity centre. It's the best on the web!