Engie Energy Review
Engie is a new take on a historic business.
Around in its current form for just under a decade (since 2008), Engie is a French energy company that provides supply to people across the world.
Their largest single shareholder is, as of this writing, the French government. However, they are moving to sell some of this stake.
COULD YOU SAVE BY SWITCHING TO ENGIE?
Though its current form is quite young, Engie’s origins go back much further – they are a descendant of one of the oldest multinationals in the world, with roots going all the way back to 1822.
Engie is the largest independent power producer in the world, and entered the UK market in May of 2017.
What makes Engie’s tariffs different
Engie offers a variety of tariffs, including several that are 100% renewable, reflecting their green initiatives. Engie has created a special “tracker tariff” for customers.
This tariff aligns what customers pay to wholesale tariffs. These are offered by other suppliers as well. The standard name for them is variable tariffs.
Do keep in mind that that this sort of tariff is of the “roll the dice” variety. Wholesale prices can fluctuate, and can make up a decent percentage of your final bill.
That said, variable tariffs can prove to be the cheapest on the market.
If you want more predictable pricing, you may want to opt for a Fixed Rate Tariff instead.
Engie also offers an unusual option that could lead to loads of savings for you.
Most suppliers put customers onto a “Standard Variable Tariff” by default, unless they switch to a cheaper tariff.
Even if they get a cheaper rate tariff, these typically only last for a fixed period of time - and customers end up automatically enrolled into the more expensive Standard Variable Tariff in the end.
But Engie aims to do things differently. Rather than automatically put customers onto the most expensive tariffs, they promise to do the opposite – put them onto their cheapest deal that they offer.
It is important to note however that their cheapest deal may not be the cheapest on the market – it always pays to do a quick comparison on your energy, to ensure you are getting the best deal possible.
Can switching to Engie save you money?
The average national “Big Six” Standard Variable Tariff as of 1 October 2017 is due to be £1,135, based on average usage. Two-thirds of the UK are on SVTs.
When we searched for Engie’s lowest tariff, based on a London postcode and medium usage in a medium-sized property, the price comes out to £855 per year (based on ENGIE Fixed Sept 18 v4 Paperless tariff).
This translates into savings of £280.
Like many suppliers, some of their tariffs have exit fees, and some don’t. It’s worth checking before you commit.
TRY A QUOTE AND SEE WHAT YOU CAN SAVE
How good is Engie’s customer service?
Engie currently holds a rating of 4/5 stars on energyhelpline.com, which displays independent ratings.
Engie’s work in green energy
Engie has invested heavily in renewable energy, including wind, solar, natural gas, hydroelectric and more since 2014. They are the largest solar producer in France.
Going one step further, in 2015 they announced that they will put new investments into coal plants.
They will also sell €15 billion in assets to reinvest funds in more “green” energies.
Also, Engie has invested in technology to develop better strategies for energy efficiency.