To Cap or Not

atlantis187

Hey peeps,

Having read loads of articles on various different websites and having seen ML on gmtv everyone seems to be giving the opinion that we should all cap our prices ASAP.

I'm currently on BG Click 5 for Gas and Click 4 for elec paying £75 for both a month.
Would it be beneficial for me to cap as having done some camparisons on different sites its showing I will be £264 worse off in the short term if the prices dont go up.

I would just like to gain a feel of different peoples opinions what they reckon to all this advise being given have you all started capping/fixing your prices?

craggs

Hi im on the fence a little,with how much extra its going to cost me

its difficult to say but im leaning more to switch to a cap tarrif.

ive posted on another thread on here my annual cost extra and rise a year,which i think was 30 odd percent,so iwont benifit of course till it goes above that

Dinah_Gale_2

Can't decide either.

I've recently switched to Ebico for my supplies mainly because I can pay quarterly, old style, without being charged more. I got fed up with never knowing exactly how much I owed for my gas and electricity paying by monthly direct debit. (I did check with a comparison site that it would be a good buy for me)

However, Ebico aren't doing a capped tarrif so I have to make my mind up....... Think I'll probably stay with Ebico on balance.

I was on a capped tariff for gas until from 2005 to 2010 with British Gas but when I changed to Click 5 for electricity they switched my gas too and took me off the capped tariff. What person it their right mind would take themselves a cap like that? Despite a phone call they wouldn't change me back so I'll never go back to British Gas.

shieldsy

I've got same dilemma. Comparison sites all saying I'd pay about 20% extra to go on capped tariff. If prices rise by 60% then that's obviously a bonus. BUT, oil prices are now dropping. So in 6 months we should see gas prices dropping too.

Also, most of the capped prices only last 12 months - so it's a very short term gain, especially if the 60% increase Martin mentioned doesn't take effect til start of next year ... it'll result in only a 6 month cap.

I'm tempted to sit tight just a little while longer. But interested to see what the consensus is.

craggs

shieldsy wrote: »

oil prices are now dropping. So in 6 months we should see gas prices dropping too

Now you have thrown a spanner in the works

I didnt know that for a start,but now im really 50/50 on if to cap or not

Like you say ive now done a proper quote with my last years KW usage plus discount for DD and Online

and i will pay based on that 24% more :eek:

however on the other if it did rise i could end up only 4% more out of pocket(based on it rising in the next 30 days by 20%) which isnt to bad.

triniguy247

Considering switching from EBICO to E.ON's capped rate before the price increases.

With Ebico currently paying

GAS: 2.86p per KWH (inc VAT) - Monthly DD £15
Electric: 12.23 per KWH (inc VAT) Monthly DD £20

E.ON Capped Rate till OCt 09 (Fixed Price Energy 2009 Online NSC)
Dual Fuel Rates:
Gas: Unit Rate 1 up to 4572 kwh - 4.2641p inc VAT
unit Rate 2 2.6408p

Electric: Unit Rate 1: 19.6445p up to 900kwh
Unit Rate 2: 9.2757p

The Comparison sites state switching to the CAPPED rate is 19% more than currently paying. However as a relatively low energy user our bills are always within unit rate 1 so that's the key price for us.

Based on my calculations on rates alone GAS is 49% more, Electric is 60% more. Can anyone advise if I am analysing this correctly and if its worth swicthing or not. Based on the rates alone I would say not, bit confused how the comparison sites say only 19% more than current.

Kind regards

triniguy247

Considering switching from EBICO to E.ON's capped rate before the price increases.

With Ebico currently paying

GAS: 2.86p per KWH (inc VAT) - Monthly DD £15
Electric: 12.23 per KWH (inc VAT) Monthly DD £20

E.ON Capped Rate till OCt 09 (Fixed Price Energy 2009 Online NSC)
Dual Fuel Rates:
Gas: Unit Rate 1 up to 4572 kwh - 4.2641p inc VAT
unit Rate 2 2.6408p

Electric: Unit Rate 1: 19.6445p up to 900kwh
Unit Rate 2: 9.2757p

The Comparison sites state switching to the CAPPED rate is 19% more than currently paying. However as a relatively low energy user our bills are always within unit rate 1 so that's the key price for us.

Based on my calculations on rates alone GAS is 49% more, Electric is 60% more. Can anyone advise if I am analysing this correctly and if its worth swicthing or not. Based on the rates alone I would say not, bit confused how the comparison sites say only 19% more than current.

Kind regards