Well, it’s that time of year when I need to review my utilities and find a new rate for the coming year. I was on a fixed price deal which fitted my criteria last year. With all these rate rises and the way that electricity is climbing in price I feel like the utilities are pricing in the electric cars we will be driving in the next few years already. Electricity prices are rocketing away when I look at the kWh rates compared to the Gas prices being quoted.
When I looked at electric/hybrid car costs, none included the utility charges. You have to go to a 3rd party site to find a comparison calculator to find out the real cost of running a car.
My current energy supplier is one of the ‘big 6’; the fixed deal was fine but when I went to review the alternative tariffs for this year, they are saying that the standard variable rate option is the best for me! Well, that’s a surprise, as that is normally the worst deal. (Or is that just another marketing fake news item?) The fixed price deals they are offering add £20 per month! to my bills (when I currently pay £40 pm – that’s just too much!) and have removed all the ‘discounts’, ie dual fuel & paperless billing. I have also noticed that they don’t offer me all the plans that are available via the comparison sites – so they are trying to stitch me up by only offering limited more expensive options via their own site! – Rip OFF ! For that reason alone I am moving supplier this year, I have been pondering it for a few months anyway but this puts the cherry on the cake.
My current supplier’s cheapest alternative offer – a ‘smart meter’ plan – well, sorry but I am not having one of those. I was speaking to someone yesterday who said that they swapped to a smart meter and their fuel charges have gone UP. They also have the problem of moving supplier resulting in the meter becoming useless. These marketing quotes of smart meters saving you money is rubbish. If you don’t monitor your fuel usage then, ok they may be an eye-opener for you and enable you to save money when you realise how much fuel you are using just on ‘tick over’. But if you are like me and watch your fuel usage and take regular readings then you will find that a smart meter will MAKE NO DIFFERENCE.
So bye bye ‘Big 6’ and hello alternative, disruptive supplier. Ok, it means moving to a variable rate plan but with no exit fees I can monitor and move around if the rates seem better elsewhere. The move will save me £90 which is reasonable and on par with past renewals. It’s not the largest saving on the table but I am happy to pay a little bit more if the supplier has ECO credentials & customer service that they actually live up to.
I will become a utility ‘rate tart’ for the next year and see how the utility market runs. I have researched having solar panels as electricity is my highest use fuel source but it does not pay. My house isn’t south facing, so I will not get the ROI that’s possible with a south-facing roof. Shame I don’t have a large garden as I could do what all those farmers around me are doing (filling their fields with solar cells). I could setup panels in my garden. But, hey I wasn’t thinking about that when I first bought my house nearly 10 years ago. I will just continue to look at other options to reduce and conserve home fuel.
While reading other blogs and articles I found this:
Source: Santander and Bloomberg Article
Between 2006-2016 the cost of U.K. gas and electricity swelled by over 70% and this is without the huge increase in alternative fuel vehicles and the time bomb of closing power stations.