Gas & electricity capping

Minerva69

DGJsaver wrote: »

You can SAVE by going capped ???

If thats true and your figures , usage etc are correct then you should be swopping NOW

We've never switched before, but we worked out our figures by adding up the kilowatt hours used from the past year's worth of bills, as I understood this was more accurate than using the monthly direct debit payment to work it out. According to the Energyhelpline site our current spend is £908 a year, and if we switch to Scottish Power's Online Fixed Price 2009 tariff, our annual spend will be £898, so we save £10 if we switch. The reason we were worried is that will there be another capped tariff available with this one runs out, or will our bills go up by a vast amount in August next year? Just for comparison, Energyhelpline also say we could save £155 if we change to a British Gas dual fuel non-capped tariff. Not sure what to do now!

Rosemary_Jane

Minerva69 wrote: »

Just been looking at capped rates, as we've never switched I thought we could make good savings. We can save a grand total of £10 a year by changing to Scottish Power, on their "Online Fixed Price 2009 No Standing Charge" tariff. When the cap comes to an end (Aug 09), is it likely that there will be another capped tariff available then, or will our bills suddenly go up by a large amount when the tariff ends?

Hi Minerva,

First you say that you will save by going to the fixed tariff, then you talk about when the capping ends.
There's a big difference between capped and fixed prices - capped can go down but not up, and fixed is just that, it won't move up or down.
You just have to decide the likelihood of prices coming down this year - if the Government is going to force prices down to improve popularity etc.
Rosemary

nurseymike

Vike wrote: »

I'm currently with British Gas and eON energy. After reading Martin's email about capping energy tariffs, I checked on Moneysupermarket and the cheapest capped rate I can get is with Scottish Power at a saving of £113 off my current spend fixed till Aug 2009. Compare that to a non-fixed saving of £591 with nPower. That's a hell of a difference and would mean that nPower would need to increase their prices by around 37% over the year before I'm worse off. Any thoughts?

I've just switched my dual fuel account from E-On to Scottish Power through USwitch, a saving of £88 on my current tariff - I shudder to think what my bill would be next year if I had stayed where I was! Now, where's that wine?