Long Term Capping Electricity prices

oliveoil54

Hi
After seeing Martin Lewis on TV recently he seems to be advocating long term price capping on electricity bills.

Have just checked on a few price comparison sites from this web site and they only appear to come up with capped offers for approx 1 year.

Doing the sums if we take the cheapest capped offer Scottish Hydro it will increase our current bill (EON) by approx £20 per annum, but if we go with British Gas Click Energy 5 it will reduce our bill by £183.

I am in a quandary as I have been unable to find any suppliers on the comparison sites who offer more than 1 year on a capped rate.

Does anyone know of any supplier or comparison site which offers capped for 2 or more years?

I would appreciate a quick reply as I only have 14 days to decide whether to opt out with Eon.

Regards

Plushchris

The £183 saving quoted for BG would be based over the year with prices as they are at the moment, the prices are likely to go up in that year meaning you wont save anywhere near the £183 in fact, the prices *could* go up in the time it takes to change over to them meaning you would make little or no savings at all.

What were the percentages of the savings?

sara1880

try contacting N power and asking abut their fixed term till 2011, plus if you are on a certain income ( below 13k ) you can apply for the spreading the warmth which gives you £250 off your annual bill.

oliveoil54

Hi
Many thanks for your prompt replies.

Sorry didnt save the comparison details so didnt actually look at the percentage saving offered just the money. However the saving from our current bill to the price offered by BG would be approx 28%. We are currently paying £70 p month - £840 per annum with Eon.
BG was coming in at £657 per annum, no cap
Eon cap to oct 09 was £888
N Power cap to March 09 was £888

Just checked with n power and the 2011 offer has gone, the most they can offer is as above.

Does anyone know of any capped rates still available longer than a year?