How do we work out your initial estimate?
We look at the default supplier for your region, and the standard variable tariff for that supplier. Using Ofgem's medium average usage cost for both gas and electricity, we match your profile against the cheapest tariff we can find for you. We then calculate the difference between the cost of the standard variable tariff that we assume you are paying and the cheapest tariff that we can find for you based on the medium average usage cost.
How do we work out your estimated energy savings?
We take the info you give us about your current energy usage, and multiply it against the price of other tariffs available in your postcode. And, if the supplier offers any extra savings based on certain criteria, such as payment type, we’ll factor that in also. The estimated yearly saving is then worked out by subtracting the cost of the tariff you’re look at, from your personal projection.
As an example, if your total personal projection is £1000, and we find you a tariff that’s £850 a year, your estimated energy savings are £150. We get that number by doing the sum: £1000 - £850 = £150.
How do we work out your personal projection?
This is an estimate of how much you'll spend on either gas or electricity over the next year, and is based on how much you'll pay if you're rolled over to your supplier's default tariff.
Just so you know, if you switch more than 49 days before the end of your tariff, you may have to pay an early exit fee. This fee isn't included in the estimate.