My supplier disagrees with Martin?

lornalew

Hi,

After seeing Martin on GMTV this morning I've looked at capped rates and can get a good deal with E-on only 8% more than my current provider. So I rang my current provider to see if they will do something for me and they totally disagreed with Martin. They bombarded me with facts and figures saying oil prices are coming down, they don't increase their prices 20% like other providers. I am paying less now than I was 12 months ago with them but now totally confused and don't know what to do.
He did make a good point in that I am comparing using my monthly payments. If I was to use my 12 month usage instead it wouldn't be competitive but I don't know what that is without digging out all the bills and trying to calculate it.

I don't know what to do now. Is everyone going for a capped?

Lorna

1carminestocky

lornalew wrote: »

Hi,

After seeing Martin on GMTV this morning I've looked at capped rates and can get a good deal with E-on only 8% more than my current provider. So I rang my current provider to see if they will do something for me and they totally disagreed with Martin. They bombarded me with facts and figures saying oil prices are coming down, they don't increase their prices 20% like other providers. I am paying less now than I was 12 months ago with them but now totally confused and don't know what to do.
He did make a good point in that I am comparing using my monthly payments. If I was to use my 12 month usage instead it wouldn't be competitive but I don't know what that is without digging out all the bills and trying to calculate it.

I don't know what to do now. Is everyone going for a capped?

Lorna

Get your energy supplier to do it for you (supplying yearly usage figures, I mean)! I *think* they are obligated to accede to this request.

BrianPotter

Who is your current provider if you don't mind me asking?

I looked at the Scottish power rates and we would have been paying around £60-£100 extra a quarter for the dual fuel tarriff compared to what we pay now with Atlantic. That is a huge increase.

lornalew

Hi Brian,

It's Utility Warehouse. Their service has always been good and they haven't hiked their prices up in the past like other providers so I'm inclined to stay as I am. The guy in customer service said 'Martin hasn't got a crystal ball' But I've found Martin's advice excellent.

graduate

1carminestocky wrote: »

Get your energy supplier to do it for you (supplying yearly usage figures, I mean)! I *think* they are obligated to accede to this request.

They will do this. I have rencently capped my energy prices and before I did I called both my providers and asked them to tell me how may kWh I had used over the last 12 months. I had to hang on a little while they added it all up but it makes using the comparison site easier.

BrianPotter

I was ready to go for the capped rate last night especially as quidco were offering £72 cashback for Scottish Power, but after the sums, there seems a big jump cost. No one seems convinced that capping is the best thing either?

utilitybroker

lornalew wrote: »

Hi Brian,

It's Utility Warehouse. Their service has always been good and they haven't hiked their prices up in the past like other providers so I'm inclined to stay as I am. The guy in customer service said 'Martin hasn't got a crystal ball' But I've found Martin's advice excellent.

Utility Warehouse buy their energy from N-Power. Expect their prices to rise when the Big 6 have introduced theirs,with further allround energy hikes expected next year.

utilitybroker

BrianPotter wrote: »

No one seems convinced that capping is the best thing either?

MSE MARTIN and many others are.;)

lornalew

I've just got my kwh from Utility Warehouse. Doing a comparison with this, I can get a capped from BG with 7% increase on what I am paying now or E-on with 12% increase. So to sort out my confusion, is Martin saying that prices will go up more than these percentages so it is worth me capping now?

Plushchris

I think thats what Martin is saying yes, EDF put theirs up on Friday and the other suppliers are expected to put theirs up by a similar amount, I'd say whatever happens the price rise is going to be more than the 7% it would cost you to go to BG and more than likely more than the 12% to E-on

MSE_Martin

As a number of threads have been discussing similar issues I'm closing them so it can all be in one place.... please continue the discussion here...

http://forums.moneysavingexpert.com/showthread.html?p=12913599#post12913599