Energy contracts

[WannabeFramer]

I'm looking for a reality check with electricity prices if anyone is able please?

My predicted electricity use is <1000kw per year and I'm currently on deemed rates. My current supplier's contract rates would cost me more due to a higher standing charge.

I have been given a contract price by a broker which is less than half my current rate, but something doesn't seem quite right. The standing charge and unit cost would be less than I pay for my domestic energy. I am being pressured to sign the contract but it seems too good to be true. Does anyone have any experience?

I am being offered 58p (exactly) standing charge and 24.98p/kw and told that I can cancel the contract at any time...

[JKX]

"Too good to be true" and "pressured" are a couple of alarm bells, it could still be OK though.

Are there any trustpilot (or other) reviews for the broker, the provider or the particular deal? Have a look at money saving expert dot com as well, the site and its forum.

[WannabeFramer]

No other broker came close to those rates.

Ooh, I hadn’t thought about Moneysaving Expert. I’ll have a mooch over there.

My concern is that they verbally say there are no penalties, which goes against my understanding of a commercial contract.

The contract has a generic address (rather than my actual unit) and no mention of my expected usage which should form the basis of the rates they offer. The T&Cs say the offer is based on the information I have provided, but that then isn’t actually recorded.

There is a lot of small print to go through.

[Tudor Rose]

We're just in the process of taking out a new business energy contract - electricity only - and were recommended by another framer to have a look at British Gas Lite (separate from British Gas itself). It is totally online but the rates were far better than we could find elsewhere. We are in the process of signing up with them.

[WannabeFramer]

Thank you Tudor, I've had a look at British Gas Lite and they are indeed much cheaper than I am currently paying even if I go for a 1 year contract. I have probably over spent £60 for this billing period. Meh.

I have also found the rates the broker quoted direct from that supplier, inputting my figures so that reassures me, albeit I don't want a 2 year contract. I am not impressed with the broker's pressurising though so will have a think on it.

There is an option to discuss a £0 standing charge rate, so I will see what that looks like. The higher £kw may well be worth it.

I just can't believe it would be on a par for the electricity we have at home. I think I may need to look at our domestic tariff!

[WannabeFramer]

Electricity sorted. I rang direct and have signed a 12 month contract. £0.00 standing charge, £0.2494/kw. That saves me about £40-45 per month!

I have no idea why I left it so long to look into things!

[Rainbow]

I check unknown telephone numbers on https://who-called.co.uk/ and a couple of the recent numbers have been spam from energy/utility people. It's an excellent resource and completely free.

[WannabeFramer]

I found a few brokers were being sneaky and using a local area code, so I would answer thinking it was a customer. I don't like those tactics.