EDF Announce Price Increases 17% Gas/22% Electricity

freddykrueger

Someone mentioned earlier in the thread that oil prices are falling - more importantly though natural gas prices are falling so I bet these energy companies are filling their boots at the moment

fossman

Big_Penny wrote: »

I have done a search (this morning)with a view to moving away from EDF,but,using both figures before and after increases,the results come back with negative savings.
Do I stay were I am?

Before yesterdays increases my bills were £17.00pm for gas,and £43.00pm for elec. my tariff is online 5!
I only changed from n-power to EDF in March.

The comparison sites havent updated the prices for EDF yet, you would be better off calculating it all yourself on a spreadsheet.

fossman

freddykrueger wrote: »

Someone mentioned earlier in the thread that oil prices are falling - more importantly though natural gas prices are falling so I bet these energy companies are filling their boots at the moment

The prices I was paying on EDF v5.1 had not increased since October 2006.

kesfan

fossman wrote: »

The comparison sites havent updated the prices for EDF yet, you would be better off calculating it all yourself on a spreadsheet.

I've just been trying to figure out whether MoneySuperMarket are on the new EDF price or the old price as of now (26 July). It says in the top corner of my comparison results page "Tariff data was last updated and confirmed on 25/07/2008" (yesterday) which implies it has been updated. However looking at the details of the price change indicator page there is no mention of yesterday's increase. It quotes the last rise as January.

I'm on EDF online 5 which based on the current (2 days ago) price is far and away the cheapest supplier for me. The nearest fixed rate (Scottish Power Fixed Online 2009) is 30% more expensive overall according to MoneySuperMarket but with an electricity rate that is over 50% more than my current rate. So with the EDF hike I'm still under the best fixed rate. So it's a gamble on the size and timing of the enevitable next hike (presumably some time before winter), that prices won't fall say in spring next year (since a fixed rate means a 12 month lock in) and that my electricity usage isn't going to rise (recently installed an electric shower so it is). Additionally that some other supplier won't do a cheap variable rate deal that I could have switched to if I wasn't locked into the fixed rate.

Complicated.

markbloke

I've decided to take the rollercoaster ride of choosing the cheapest tariffs and switching via cashback sites when the going gets tough. I'm also hoping that the rush to capped tariffs will raise profits enough that the eventual real increases won't be as big. Only time will tell.

magyar

I agree in principle you're probably better off switching suppliers every 2-3 months and getting cashback. However it's worth warning this is NOT for the uninitiated!

The switching process is far from straightforward (from the supplier's end) and you will almost certainly get lost at least once in the system. If you do this my advice is

- keep very accurate records of your usage. Take meter readings at least once per month
- make records of every conversation you have with suppliers
- keep every letter and bill from them

Personally I decided to pay more and cap a while ago for an easy life!

bristolleedsfan

[quote=magyar;12814799
The switching process is far from straightforward (from the supplier's end) quote]


Well, i applied on 29th June to switch from SP to EON via quidco which at that time was paying 70.00 cashback. ( now 50.00)

Quidco received the cashback from EON yesterday which shows how straight forward the switching process can be, ive now been switching virtually continously for 12 months without any hitches.

magyar

bristolleedsfan wrote: »

Quidco received the cashback from EON yesterday which shows how straight forward the switching process can be, ive now been switching virtually continously for 12 months without any hitches.

Don't get me wrong, I'm not saying it can't be done. But it's NOT straightforward from the supplier's end. If you have the patience, you can be quids in.

Big_Penny

Thank you all for your replies, funny enough, I agree with you all!

I searched with two comparison sites,and the results were similar.
I also agree with capping for an easy life,which is what I was trying to do.
As for switching,I have only switched about 3 times and have not encountered any problems as yet.
I'm sorry, but I cannot do the spreadsheet thing,and as for keeping bills,mine go back years!!

Thanks again.

buckster

Big_Penny wrote: »

I have done a search (this morning)with a view to moving away from EDF,but,using both figures before and after increases,the results come back with negative savings.
Do I stay were I am?

Before yesterdays increases my bills were £17.00pm for gas,and £43.00pm for elec. my tariff is online 5!
I only changed from n-power to EDF in March.

How come your gas is so cheap? I'm with EDF and have been thinking of switching but the best capped offer is with Scottish Power but after doing my calculations I would be better off with the capped rate that EDF is offering and staying put. My tariff at the moment is online v3 paying monthly DD and I pay £50 a month for gas and £50 a month for electric. I think I will have to up my electric DD as its looking like it still won't be enough to cover the bill. I have decided to not cap my energy as even with another increase of say 22% I think I would still be better off but any more increases after that would be bad news for me.