Capped gas & electricity

Cazza286

Eon's current capped rates for electricity & gas are 14% after speaking to them this week. It expires in October 2009 and there are no penalties for coming out of the contract early. Is it too good to be true? particularly in light of Martin's emergency email this week commenting prices could rise to 22% gas & 17% electricity now.

craggs

for me to cap on scottish power its much higher than that,,id be happy to cap at that,,,its more the late 20s for me

but its a gamble at the end of the day

amcluesent

Thought EON's web-site was off-line pending truly stupendous increases in all tariffs, except the scheme 16 fixed prices which were only available until Tuesday night.

earthmother

I moved to Price Protection 17 from Energy Online Extra Saver 6 a couple of days ago after Martin's weekly email.

Before now the difference in the two tariffs was too much to make it worth the gamble, but I'm glad after tonight's news that I took the leap this time.

In case anyone wants to check, these were the figures they were offering 2 days ago (I'd saved the details into an excel document - always do when I change tariffs, just to be able to double check when the bill comes through) -

Electric - Normal units up to 900 kWhs 21.2625 pence
Normal units 11.6655 pence per kWh
Gas - Normal units up to 2680 kWhs 5.31405 pence
Normal units 3.3873 pence per kWh

They work out at about 10.5% higher than my old tariff for the electric, and about 16.3% on the gas.

mazdaspring

sorry, what is "Capped gas & electricity "

daysleeper23

We'd only just made our 1st payment to EDF after switching to them earlier in the year, they were cheapest at the time. And here we go again. :rolleyes:
Did a moneysupermarket comparison last night, but they didn't have EDF's new rates, so had to do a manual comparison against their best buy capped rate. Scottish Power came out on top for dual fuel.
Top Tip - Quidco cashback are offering £62 cashback for a new signup with Scottish Power dual fuel. Grab it while you can. :T

davidmcg2u

I signed up on Monday with Scottish Power as they were doing £75 cashbak until 21/7/08.

I received my welcome pack today - good timing.

My fixed price energy will cost me £150 more a year what I'm paying now with E-On but bear in mind that they've still to raise their prices & take off the £75 cashback I'm only £75 worse off. No ideal but it might have been alot worse if I hadn't capped.

hollydays

There is a £30 penalty fee with eon,if you come out (you can after a month I think).I am with them capped,and when I tried to ring them yesterday they said they will ring me back today.Your own supplier may also charge a fee.

hollydays

mazdaspring wrote: »

sorry, what is "Capped gas & electricity "

You agree to buy the gas and electric at a fixed rate (may be a bit higher than the current rate) ,but it is guarenteed at that price for 18 months for example ,the price
cannot go up.

Old_Tom

Whilst I am indebted to this site for personally saving several hundreds of pounds over a few years, I do wonder whether the current capping hysteria is sound advice.

My present tariffs are as cheap as I can get on the comparison sites - and about 20% cheaper than the best capping.

I have been urged to consider capping for several months now, I have resisted and have therefore saved 20% off my fuel bills. If the 40% forecast increase were true and I had resisted for six months the increase, over a year would only average 20% - the same as the capped rate therefore no extra cost!

Secondly I am becoming convinced that this clamour for capping is encouraging Energy companies to accelerate the increases!

hollydays

You have to remember,the cheapest capped rates go quickly.