Switching to Scottish Power? Cashback increased - for one week!

bristolleedsfan

buckster wrote: »

I thought you have to be with scottish power for a year and if you leave within that time you have to pay a penalty of £30 & £20 for gas and electric if you are on the capped tariff

Post i replied to made no mention of being on a capped tariff. Poster might have indicated an interest in going onto a SP capped tariff, I was just suggesting a longer route which enables two cashbacks as their will always be some deal on offer and as many posters have said capped tariff rates are often much higher than the cheapest variable tariff rates. ( at least if not more than one price increase higher)

buckster

I decided to do what your doing by switching whenever I can get a better deal and getting cashback for switching and just sit the cashback in a pot to make up for some of the increases we have to incur. Don't like the idea of being in a contract for a year. Hopefully I won't regret it

whowants2brich

If I switch from E-On to SP, I have the dilemma of the following:

We currently pay £495/year on E-On, based on exact meter readings over the past 9 months, ie including winter and summer usage. Don't forget the 500 Tesco points / £20 of deals vouchers... Fortunately, we're in a small flat and don't use much (10,800kWh of gas, 1700 of elec, per year).

Scenario 1: We switch to the fixed tarrif, for one year til end of August 2009. Cost: £620 per year. Cashback: £72. Effective cost is £548 per year, £53 more than E-On, £75 if you take the clubcard deals into account. Whatever happens to prices, we don't care!

Scenario 2: We switch to their cheapest online tarrif, which may well change. Cost: £507 per year. Cashback: £72. Effective cost is £435 per year, before any changes take place, £60 less than E-On or £40 less if I take the deals into account.

Say prices rise by 15% for E-On and SP before the end of August, and another 10% before the end of the year, I'll assume that for the sake of my maths, 1/4 of the year is at 15% more than now, and 3/4 of the year is at 25% more than now:

Current prices will change: £142+£470 = £612 (23.3% overall), £116 increase

Scenario 1 will stay at £620 for the whole year, but we've got the £72 cashback bringing the price down to £548 for the year. £64 better off than if we would've stayed with E-On.

Scenario 2 will change: £145+£481= £626, less the £72 cashback = £554.

And as oil prices have fallen, might they really increase prices in a few months, or might they not actually need to now...?

Given these figures, should I contemplate sticking to the fixed tarrif, or should I go for the cheapest one with SP, and switch again in 3-6 months, if necessary, to get more cashback and offset the increases? Would SP realistically lower the fixed prices if they don't need to increase things, as predicted, or if prices mysteriously fall in early 2009 after winter?

Dilemmas...

wackojackouk

Hi there

I want to switch to Scottish Powers Capped Energy offering but it's not bringing it up on the website anymore - anyone know if this has been pulled or not?

Cheers

WJUK

Kellm9

wackojackouk wrote: »

Hi there

I want to switch to Scottish Powers Capped Energy offering but it's not bringing it up on the website anymore - anyone know if this has been pulled or not?

Cheers

WJUK

umm, WJUK, I just went through Quidco as I did when I changed to the fix two days ago and you seem to be right. It is now only offering me the online discounted. Two days ago it gave me the fixed till next autumn. Very strange, maybe a website update !!!

Maybe someone can offer a different path to the fixed rates but the way I did it dosen't seem to work at the mo.

Cheers
Kellm9

wackojackouk

I hope it's a temp glitch otherwise it could well be EON but SP were offering £72 cashback instead of £55 via Quidco.

I'm currently on British Gas Click Energy 5 and the fixed price on EON is £150 a year more (will be £100 after cashback) so a bit wary of switching anyway

billsavings

wackojackouk wrote: »

Hi there

I want to switch to Scottish Powers Capped Energy offering but it's not bringing it up on the website anymore - anyone know if this has been pulled or not?

Cheers

WJUK

It has been pulled from comparism sites.See:

http://www.moneysavingexpert.com/tips/30-07-2008/

"Yesterday, as predicted the cheapest cap, Scottish Power’s Fixed Price energy 2009 Dual Fuel, was pulled from comparison sites and is likely to close to direct customers asap. Only two other cheap caps remain, and they could go any moment."

1carminestocky

wackojackouk wrote: »

I hope it's a temp glitch otherwise it could well be EON but SP were offering £72 cashback instead of £55 via Quidco.

I'm currently on British Gas Click Energy 5 and the fixed price on EON is £150 a year more (will be £100 after cashback) so a bit wary of switching anyway

The way to maximise the savings is to try and switch (through Quidco) 4 times a year. That way you should get a full quater's charge with each supplier. This is important as most of them have a 2 tier pricing policy whereby the first whatever units per quarter are charged at a higher level compared to the 2nd tier. If you don't get a full quarter's billing with each supplier you are paying a proportionately higher rate, IYSWIM. At current cashback rates, switching 4 times a year could net you at least £200 in the year - a useful saving off your total bill!