Gas and Electricity - TescoCompare Clubcard offer terms and conditions.

Terms and Conditions of the 250 Clubcard Points Offer for Dual Fuel Switches (Gas and Electricity).

250 Clubcard points will be awarded for dual fuel (gas and electricity) switches. No points will be awarded for single fuel switches (i.e. gas-only or electricity-only). The Clubcard must be in the energy account holder's name and the Clubcard number must be entered correctly when completing the details on tescocompare.com. This offer is available from 01/02/13 until 30/04/2013. Failure to do so will mean the points will not be allocated to the Clubcard holder's statement. Tesco Compare will notify the energy account holder via email when the Clubcard points have been awarded. Points may be awarded up to ten weeks from the switch date of the gas and electricity. If the application is not successful then no Clubcard points will be awarded. Tesco Compare reserves the right to amend, vary or cancel these terms and conditions or to withdraw this promotion at any time. The Clubcard Scheme is administered by Tesco Stores. Tesco Stores are responsible for fulfilling points.

Switchable tariffs and Wider results view explained

What is a partial market view?

A partial view of the market shows you those tariffs that we can switch you to using our secure, award winning online platform.

Why would I want to see a partial market view?

2 main reasons. Firstly, you have the convenience of getting the deal done here and now. Not having to chase down different suppliers online or waiting in a phone queue for hours only for some agent to try and sell you a more expensive deal. It is done right here and takes just 5 minutes of you time. Time is precious - why waste it?

Secondly, we only deal with suppliers that we have researched and vetted. We do not deal with suppliers that have limited capital and use customer's money to gamble on your energy bills. We can't guarantee that all switches go through 100% - that is not under our control. But at least you will be switching to a supplier with a track record or one that is well funded.

What is a wider market view?

A wider market view shows you a broader range of suppliers and tariffs including many that that we cannot switch you to. However it excludes the following;.

Is a Wider market View the same as a Whole of Market view - that is, all tariffs from all suppliers?

No

Where can I get a whole of market view?

You can't (with the caveat as far as we know that is). But basically, you can't. It doesn't exist and never has done.

Ofgem has always claimed that energy customers could see a whole of market view but Ofgem's definition of "Whole of Market" always excluded social tariffs, non-standard meters, collective switches etc, etc, etc...

Basically "Whole of Market" comparisons are, and always have been a big fib. A con.

So, anyone claiming they offer a Whole of Market comparison is telling you porkies. If you see that claim on a website do yourself a favour, ignore the claim and ignore the site.

Why should we use you?

Because we are honest with our claims, we are honest with our comparisons, we have the simplest search and apply process, and it is totally secure.

Personal Projections and why they are so Dangerous...!

So what is a Personal Projection?

A personal projection is an estimate of your Estimated Annual Costs for the next 12 months based on your current usage. It takes into account the standing charges, unit rates and any discounts associated with a tariff and multiples them up by your usage to calculate what you will pay for your energy in the next 12 months.

And what is wrong with that?

Well if you are not changing tariff in the next 12 months, either because you are on an expensive Standard Variable Tariff, or because you are on a long term fixed rate plan, then the Personal Projection is nothing more than the Annual Cost of your current tariff or future tariff projected forwards for 12 months.

However, if your tariff ends in less than 12 months, perhaps because you are on the remaining few months of a fixed rate deal, then Ofgem requires us to assume that you do nothing at the end of your tariff and that you allow yourself to get moved onto your current supplier's Standard Variable Tariff. We are then required to calculate the costs for the remaining months on your current tariff with the balance of the 12 months calculated using the cost of the Standard Variable Tariff.

Now I'm confused. Can you show me an example?

Of course. We will use a really simple example.

Let's assume that you have switched to a cheap fixed tariff that is costing you £900 a year for your energy, and which ends in exactly 6 months from today.

At the end of those 6 months we have to assume, rightly or wrongly, that you do nothing and that you will be moved by your supplier to their Standard Variable Tariff. Let's assume your supplier's Standard Variable Tariff is going to cost you £1,200 a year based on the same usage.

So while you are only paying £900 a year currently, the Personal Projection for your current tariff is calculated to be (£900 * 182.5 days) + (£1,200 * 182.5 days) = £1,050; £150 more than you are actually paying.

OK got it now. Why is that a problem?

Well there are a number of flaws with this approach which are listed below.

The main one however is this.

If you switch from a tariff costing you £900 a year to one costing you £800 a year you save, in cash terms, exactly £100 a year.

However, if we inflate the cost of your current tariff from £900 to £1050, and then use the inflated Personal Projection figure to calculate your savings, switching to that same £800 tariff suddenly shows a saving not of £100, but a purely fictitious £250. £150 more than you will actually save.

Whoa. That is a problem. Surely price comparison sites would never be able to get away with quoting inflated savings to consumers? Is that even legal?

Well the bad news is that most comparisons sites have done this and still do it. Our research on this showed that savings quoted can be inflated by £100, £200 and even more. You can read our research here.

The legal question is an interesting one that we are looking into.

What about your site? Have you ever inflated savings?

No we never have and never plan to. We do calculate Personal Projections as mandated by Ofgem and show the impact these might have on you. However, the savings we quote are an honest like for like comparison between your actual current tariff cost and the new tariff(s) you are considering.

So what else is wrong with Ofgem's Personal Projection?

OK to be clear this only applies when your current tariff has less than 12 months to run. When that happens, the following problems arise (as briefly as possible).

- Assumptions used (that the user will not switch) are flawed particularly for price comparison websites.

- The calculation is incomprehensible to the vast majority of consumers. We used the most basic example here. It can get a lot more complicated. Confusing customers is not the way forward.

- The calculation is, in any case, inaccurate as it does not take into account seasonality.

But the real damage happens when the Personal Projection is used in a savings calculation. In this case it;

- Systematically overstates the potential savings from switching, often by significant amounts.

- Creates savings calculations which are purely fictional and are never realised as cash savings for consumers (except in very rare exceptional cases).

- Leads to inconsistent results between price comparison websites (PCWs) and between PCWs and energy suppliers.

- Creates a different calculated result on a daily basis.

- Is mis-leading, creates real consumer harm and damage, and could give rise to mis-selling claims.

- Affects significant numbers of consumers.

Wow. I'm totally shocked that this is going on. What should I do about it?

If you think you have been mis-sold an energy plan based on an inflated savings quote, in the first instance, please Contact Us. We will look into your situation to see what action can be taken.

How the British Gas £100 credit promotion works.

How do I qualify for the promotion?
You need to be supplied by British Gas for both gas and electricity. You need to be on the British Gas Standard Product, and you need to pay by monthly Direct Debit. You also need to use this website.

What do I need to do?
You need to apply to transfer your gas and electricity supplies to the British Gas Clear and Simple Tariff. Click the banner on the results page to see this tariff. Only this tariff is eligible under the terms of this promotion.

How much do I get?
British Gas will credit your energy account with £100. You will need to stay with them for another 12 months before your account is credited.

Are there any restrictions?
Your energy usage should be above an annual threshold of 3,800kWh for electricity and 16,800 kWh for gas. We have checked this already for you so unless you are unsure about your energy usage figures you are in the clear on this.

Amount includes VAT at 5%. Only one offer per customer/household. The £100 credit offer will be shown as a credit on your first gas and/or electricity bill issues 12 months after you sign up to the offer, cannot be used in conjunction with other similar offers. You must remain a British Gas customer on the same tariff that you signed up to at point of credit. Subject to status. Excludes Pay As You Go EnergyTM customers. Limited availability.

Home Mover Box Info.

Content

more content.