Budget energy

A question about : Budget energy

Has anybody made the move to Budget Energy (www.budgetenergy.co.uk) yet? We had a sales rep call at our door yesterday and left a flyer. I'm currently on airtricity but there seems to be further savings by switching.

From the website:

Rate as of 05/07/11 is 11.83 pence per unit (exc. VAT) if choosing to pay by Direct Debit
Your Direct Debit will be collected on the 28th of each month based on your historical annual consumption

Your meter will still be read by NIE T&D quarterly and Budget Energy will issue you with a reconciled Quarterly Bill

If any amendments are needed to your monthly direct debit we will notify you in writing at least 10 days before the 28th of the month

Any feedback welcome?

Best answers:

• Pity they don't seem to do a quarterly DD - what happens to any credit that you build up as a result of not using as much energy as the previous year? I assume that the DD amount is reduced to reflect that overpayment?
  I too would welcome any feedback from others who have switched to Budget Energy.
  Attritioner - whereabouts in the country are you?
• RTNI - they do provide the option of paying once a quarter, but anyone who chooses to use this option must pay a Ј250 deposit, as this will help mitigate the risk of not getting paid...
  Customers are also encouraged to provide regular meter readings to help improve the accuracy of their bills, but if any credit is accrued, this can be used to reduce the monthly direct debit amount...
  Also, NIE T&D send their quarterly meter reads to Airtricity and Budget Energy...
  Budget Energy's advantage is that they don't hold anyone to contracts, so I'm happy I've made the switch... If a cheaper competitor enters the market (or an existing competitor undercuts them), I can simply leave...no hassle..!!
• *whispers so no-one else can hear* dmxdave - this thread was first.
• Now we no longer have a monopoly situation, do you think these providers will feature in u switch?
• [QUOTE=dmxdave;46202885]Why not have a wee read before creating a new thread? https://forums.moneysavingexpert.com/...053[/QUOTE]
  At least this thread is actually about money saving which is all too rare in the NI forum.
• Only just found this thread,I have been on both the Budget Energy and Airtricity sites and have noticed that Airtricity charges Ј5 for topping up Online and by Phone whereas Budget Energy DO NOT charge.This was under the Keypad meter section.It would seem that Budget Energy is the better option......hopefully.
• I've just completed the forms to switch to budget, I reckon the short term gains even if they can't sustain the lower costs as opposed to powerni or airtricity is worth it. Maybe powerni losing more customers may make them more competitive.
  It's worth a punt!
• Are you moving from PowerNI or Airtricity Cate? I moved to Airtricity last year and am not sure the halfpenny a unit is worth moving again.
• I have just signed up with Budget Energy.I have a keypad meter.They have told me that it will be 13% cheaper than NIE, for keypad users and 17% for bill paying customers and will always stay that way which sounds a good deal.They dont charge for online and telephone top-ups like Airtricity currently do.There is no contract so you can switch whenever you want if Budget Energy doesnt suit you.
  The minimum online and telephone top up amount is Ј10 which once again is better than having to fork out the Ј15 each time with NIE,especially if you dont happen to have that amount spare at the time.This all sounds a good deal to me so i really hope its all that it proposes to be.
• Are Budget Energy putting their prices up on October 1st like the other lecky suppliers? Don't see anything on their website about % increase
• From Budget energy website.......................
  No Price Increase at Budget Energy
  25/08/2011
  The Utility Regulator today announced that PowerNI would be increasing their electricity prices by 18.6% from the start of October. Airtricity also announced a similar increase.
  BudgetEnergy will continue to maintain its lower rates and track the wholesale price.
• I have to say, the cheaper electricity at Budget Energy looks tempting but I am personally proceeding with caution.
  PowerNI are still in a dominant position and the danger here is that the alternative suppliers are pinning their price to that of PowerNI, this means that it makes it nearly impossible for PowerNI to compete on price but it plays right into their hands and PowerNI will easily be able to put these companies out of business and quickly and it's the likes of Airtricity and Budget who are leaving themselves vulnerable with their own pricing policy.
  PowerNI will bide their time and give their rivals enough rope to hang themselves by gaining a significant amount of customers then they will drop their own price to something like wholesale cost+5%.
  This will mean that the other suppliers tied in to deals to charge between 8 and 20% percent less than PowerNI will have to drop theirs too and will be selling at a loss.
  This will kill off the competition and leave them to charge whatever they like, just like the good old days.