just about to switch....

kazzy

I pressed the 'submit' button on my pc last week to change to npower,who,apparently can save me £101 per annum.However, on the news the next day they announced they were putting their prices up by 14%.
Hence I now think I'll wait 6 months ad do another comparison then.
Martin......you told us all to switch last week ??????????

caveat_emptor

kazzy wrote:

I pressed the 'submit' button on my pc last week to change to npower,who,apparently can save me £101 per annum.However, on the news the next day they announced they were putting their prices up by 14%.
Hence I now think I'll wait 6 months ad do another comparison then.
Martin......you told us all to switch last week ??????????

Switching is a lottery because we never know when the next price increase is coming. A supplier will keep his price low until he's captured his target number of switchers and then will raise his price. It's the savings market in reverse where a bank/building society will offer a good rate and then reduce it when they have attracted enough switchers.

mechy

kazzy wrote:

I pressed the 'submit' button on my pc last week to change to npower,who,apparently can save me £101 per annum.However, on the news the next day they announced they were putting their prices up by 14%.
Hence I now think I'll wait 6 months ad do another comparison then.
Martin......you told us all to switch last week ??????????

Found the same thing Kazzy see my thread on the "sticky" Gas and Electric"................ :mad:

Cardew

caveat_emptor wrote:

Switching is a lottery because we never know when the next price increase is coming. A supplier will keep his price low until he's captured his target number of switchers and then will raise his price. It's the savings market in reverse where a bank/building society will offer a good rate and then reduce it when they have attracted enough switchers.

Dead on, its like pinning a blancmange to a moving target

It makes a mockery of those who claim switching to Company A from Company B will save £X a year.

MSE_Martin

Hi folks

As I noted in the time to switch email.

[font=Arial, Helvetica, sans-serif][size=-1]Does this mean no more price rises? [/size][/font] [font=Arial, Helvetica, sans-serif][size=-1]No. It's possible a few more are yet to come, yet this is my best guess of the right time to switch. This is more of an art than a science, however I estimate switching now provides the most stable price environment, before the next round of hikes starts!

[/size][/font]

I still believe that, there's never a totally flat playing field on this. However you have to switch sometime, now is still a good time. British Gas leads the switching rounds, so its getting in after most have changed, but it still hasn't increased again

martin

denise38

I am in a bit of a quandry as I have been with Scotish power online duel fuel capped till next summer so I have a good deal compared to others.
However come next summer I am really going to feel the pinch as prices have risen in the time I have had my deal.
Wish I had a crystal ball as to what to do. Do I switch now and take a kicking or wait till next summer and see what develops. Even without a crystal ball I know prices aren't going to come down ! Live in Scotland as well so not as if I can do without it!!