Thursday, September 16

Martin’s WARNING: Your energy bill’s about to JUMP by £100s-here are my 11 need-to-knows


7. Beware other comparisons sites, most hide deals that don’t pay them… and most cheap deals don’t pay right now

Energy switching sites, including Cheap Energy Club, earn their money by being paid by firms they can process a switch for. This comes from energy suppliers’ marketing budgets, so it doesn’t change what you pay, you’re charged the same as if you’d gone direct.

To protect their incomes, most sites by default hide any tariffs they don’t have a commercial relationship with. I’ve always rejected that for MSE. By default, the Cheap Energy Club comparison includes all available tariffs (though you can filter, for example, for service rating).

Instead, my concept was to give switchers nearly half what we earn in the form of cashback (for instance, £25 per dual-fuel switch). Not just to make us cheaper than other sites, but also allowing us to include the cashback in the saving, so more people switch to those that pay, without us hiding any tariffs. Hopefully a win-win for us and you.

Right now, in these extraordinary times, many of the cheapest firms have pulled payments. That means most sites, by default, hide a wide range of cheap tariffs. We, of course, don’t. Similar is true of free auto-switch sites, which are likely to have even fewer competitive deals than usual right now.

The main impact on MSE’s service is if you’ve used our Pick Me A Tariff Every Year function, as we can’t switch you to most of the cheapest deals. We’ll still tell you what they are but you’ll need to switch outside of our easy one-click service.





www.moneysavingexpert.com

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