who else took the gamble and didnt switch to a fixed product

maytaurus

I didn`t fix or cap
just stayed with the cheapest supplier

Mine's_a_guinness

I didn't fix or cap. I'm with E-on Online Energysaver 5. Don't know whether I should change to Energysaver 8 as the price is cheaper than my current tarrif, but not sure whether it will increase or not in the near future. Having looked at Martin's warning that online prices don't always increase at the same time as the standard tarrif I'm confused as to what to do.

trisha

I didn't cap either, I have just changed from e-on online saver 5 to online saver 8 at the moment it is cheaper although the discount is less, if they put it up no one knows if we will be better off or not, we have done everything thing possible to save as much as we can, the credit is building up nicely, so if we only get another month at cheaper rates it will help offset winter costs.

There are two of us in a two bedroomed semi bungalow and we pay £74 a month, we don't want to gamble with the capping for three years, it may be the wrong decision but if we take into consideration that over the year we are probably away about eight weeks on holiday, including four in winter then we probably woldn't benifit by capping.

DGJsaver

Gorgeous_George wrote: »

If I had fixed to a lower tariff than is current market rate, one of two things would happen. Either somebody else would be charged more to compensate for the enery company losing out on my account or the company could go bust.

I think we all wish that fixing to a rate meant the prices stayed the same...i think the idea George is that you fix your prices at HIGHER than the current markey levels , to safeguard against the prices going ABOVE the HIGHER rate

Either way it is , or wasnt possible to fix at the current rate of the time it was always more

Cardew

DGJsaver wrote: »

I think we all wish that fixing to a rate meant the prices stayed the same...i think the idea George is that you fix your prices at HIGHER than the current markey levels , to safeguard against the prices going ABOVE the HIGHER rate

Either way it is , or wasnt possible to fix at the current rate of the time it was always more

Whilst I agree with the thrust of what you are saying, the BG 2011 fix is actually at the same rate as their(very high) standard tariff, and in 2005 on BG's 2010 fix the electricity price was actually a reduction of 4.8% on their then standard price.

As has been said so many times, the decision to fix or not is simply a gamble.

jem16

Cardew wrote: »

in 2005 on BG's 2010 fix the electricity price was actually a reduction of 4.8% on their then standard price.

Gas was a 2.8% premium above. Of course we have to remember that to get the fix you have to include the increase too (35% now and was 14.2% in 2005).

As has been said so many times, the decision to fix or not is simply a gamble.

Very much so.

blue_monkey_2

No, I didn't either. Even with these price rises I have saved by not capping so far, am with SP too, the one that gives you 3% under the current rate. We are about to change, switched and got £72 for that though. I looed at the figures this morning and realised SP had a rise and thought 'Oh no' but it has worked out OK for us I think and we would have been paying on the capped rate.

I got a call from BG last week saying 'you are switching, why?' Me: Your prices are too high. Them: Do you want to cap at these prices if you stay? Me: No, too late now anyway.

Looking at the figures this morning BG are more expensive than SP for the rate we on anyway.

Dijoy

I bought a portable twin-tub and stayed uncapped on Atlantic

moonrakerz

I didn't gamble - I put my money on a certainty !

I had my cavities filled (walls - not teeth!) and another 6" of fibre glass in the loft. That seemed a better way to save money that paying a premium on my existing prices !

1carminestocky

Cardew wrote: »

Whilst I agree with the thrust of what you are saying, the BG 2011 fix is actually at the same rate as their(very high) standard tariff, and in 2005 on BG's 2010 fix the electricity price was actually a reduction of 4.8% on their then standard price.

As has been said so many times, the decision to fix or not is simply a gamble.

If you accept fixing IS a gamble (and that's clear you do) then to be absolutely accurate the penalty charges for moving to another tariff/supplier before the end of the period of fix IMO should be included in any 'premium on standard tariff' discussion.


PS I was panicked into going for BG PP Dec 2009 fix partly by Martin's GMTV 'pleading' but then realised that it was IMO a bit of a rip-off! And this was allegedly one of the 'good guy' fixes! Don't EVER compare any of BGs fixed deals with their standard tariff because NO-ONE should be on that bu**er! PP Dec 2009 represented a 40%+ premium on Click 5 (OK, pre-increase) leccy prices!! OK, the gas price wasn't anywhere near as disgusting premium-wise. BUT, and here's the classic BG jiggery-pokery - you can't get just Gas on the PP Dec 2009 fix! Oh no, if you just have Gas on it they transfer you to BGs standard rate! Serioulsy, you couldn't make it up..