Should I fix?

tomstickland

I've been reading that 20-30% price rises might occur for electricity.
I've had a look on USwitch and to fix to a capped tariff on Econ7 will cost me £10 extra per year based on current prices.
That would be a capped price until August next year.

Should I do it?

hubballi

Definatley Yes !!!

greenbee

If you want the security of knowing what you're going to be paying, then definitely fix. Given that estimates of up to 40% increases in energy prices have been made, unless something dramatic happens then you should be better of as a result by the time the fix comes to an end.

djohn2002uk

Have a look at Scottish Power fixed 'till 2011.

BexTech

djohn2002uk wrote: »

Have a look at Scottish Power fixed 'till 2011.

Hasn't the 'til end of Feb 2011 tariff ended for new customers and they only offer 'til 2009 fixed, though if already a Scottish Power customer and have online account may still be able to switch via the online account section.

djohn2002uk

BexTech wrote: »

Hasn't the 'til end of Feb 2011 tariff ended for new customers and they only offer 'til 2009 fixed, though if already a Scottish Power customer and have online account may still be able to switch via the online account section.

Don't know. All I know is that last week I switched to online billing and set up the 2011 account and in a week or two I'll probably go back to "normal"
billing.
But as for tomstickland, he'd probably be daft not to fix now before they raise the cost of those accounts as they surely will as soon as any increases become iminent.

tomstickland

Thanks for the replies.
I'll see what other fixes they have.

andyrogers

I know that some people have asked this question many times now, about should I fix which is something that I have been looking at in great detail recently but iam unable to come to a decision.

Iam currenlty on the E.On Electric Saver v5 which the fixed 20% discount runs out 1st April next year, currently iam spending around £860 a year on my electric on this tariff, if I switch to one of the fixed price tariffs with either Scottish Power or E.On my cost would raise to arounf £1060 per year looking at the current prices, and increase of approx 25%.

I currently can't decide if I should fix my prices now and pay around £16 more per month, or keep on the current tariff and see what heppens. I have read things that Gas is expected to up around 30%+ and electric around 15%.

With me being an Electric only customer is it worth me now fixing at the moment if the expected rises will not be as high or should I fix.

Any help would really be appreciated.

Thanks

Andy

IvanOpinion

Significant price rises are expected in the next few weeks ... you need to do your sums and see what is available on the market and factor in what is likely to happen over the next few weeks. Fixed/capped could be a very good bet ... but keep an eye out for fees if you leave the scheme.

Ivan

tomstickland

Well, after an hour comparing the detailed rates from various supplier sites I've decided that the Scottish Power Econ 7 Fixed until Aug 09 No Standing Charge is the way to go. Based on the unit costs it's already £10 per year cheaper than British Gas Economy 7 Click 1.

tomstickland

djohn2002uk wrote: »

Have a look at Scottish Power fixed 'till 2011.

This is no longer available.