advice needed - swalec

delyth11

hello everyone

this is my first post, atho I have been following this site for a few weeks. here goes

Because of husbands illness (stroke) I am now in charge of families finances. Doing fairly good job uptil now, I just don't understand gas/elec bills, and am looking to cut bills like everyone else as every penny counts. Story so far:-

Have been with Swalec for 2 years approx. The monthly payment has not been covering elec consumption so have agreed a higher monthly payment for the next year. I asked about capping which they are not doing but have offered a 2% discout tracker until July 2010 which to me sounds good, as we pay by standing order we already recieve 6% discount, therefore we will be recieving 8% discount.

She then told me the bad news, if we cancelled in year 1 we would have to pay £100 cancellation fee($50 gas,/£50 elec) year2 would be $50 (£25 gas/£25 elec) As we're both not very good with things like this we would have normally took this contract up, what are views on this. as reading this web site you all seem to be very clued up on this subject.

thank you
del

notbritishgas

Hi Del, make sure you understand the terms of the "fixed 2% discount tariff". What it means is that you will have a 2% discount off their standard tariff until 2010. If the standard tariff goes up by 40% then so will your costs but you will still get the 2% discount.
You may already be on a cheaper tariff than that, or may be able to find a cheaper one with another company if you enter your details in one of the comparison sites, make sure you enter your kwh not your costs.

delyth11

thanks for getting back to me.

I've been thinking about this all this afternoon, if I did move I would have to repay the existing underpayment in one go, which I don't want to do, so I think I've got no other choice but to stay and take the 2% discount, they've told me I'm on the cheapest tariff already.

thanks