Scottish Power Online Price Fall fix ending

stamford

My current dual fuel deal ends 31 Oct. They've sent me a mailing offering a "Fix For Free" deal till May 08, I had a chat with them & it seems that the main difference to the Price Fall product is that there is no automatic reduction if the price falls but you can cancel and change tarriff without penalty.

Any thoughts on this in view of current low oil prices and this spineless Govt comment :-

"Energy Minister Mike O'Brien said he wanted to see the oil price fall feed through into gas and electricity prices".

Note use of word wanted not "will force profiteering energy companies"

http://news.bbc.co.uk/1/hi/business/7673909.stm

Woby_Tide

I spokoe to them about it too, the unit prices are just their standard rates so they have better tarrifs than that already to switch to. That said they were still too much so I'm off to BG for my sins

lutzi1

I've been looking at this as well. As well as this deal, they are also offering on their website a fix to 30/11/09. Unit costs are the same as the May fixbut the standing charge is about £1 a month extra each for gas and electric. They also have a discount of 3% on their standard tariff available till 30/09/09, which would be the one to go for if you think prices might fall due to the fall in oil prices. Whichever one I choose, I'm appalled - the increase in my gas costs will range from 64% to 69%!!! Electricity will rise a "mere" 16% to 19.5%. I'm tending to think the discount may be the one to go for for now, but then if you can get out of the May fix one without penalty if prices drop, then that's an important consideration.

Wasn't life a lot simpler when you just got a bill from the electricity and the gas board for your area!!!!????

Ray_Coxon

I have searched all the comparison sites for Duel Fuel and each shows for my consumption that I would be better with British Gas by about £150 per annum but no way would I join that lot!!

I have phoned Scottish Power and am told that although this tariff is fixed until May 2009, if prices fall I can opt out without penalty. With regard to comments in the Daily Express about the cost of oil falling, bear in mind that the price of oil is quoted in US dollars - it has fallen from a peak of 134$ to about 100$. At the same time the pound has fallen against the dollar from about 1.80 to 1.55 so according to my calculations on the basis of these figures a barrel of oil when the price peaked would be about £75 compared with about £65 now, not as big a drop as one might think. However my calculations are simplistic and no not take into account forward contracts etc.

Also it is worth mentioning that in the heavily populated Northern Hemisphere the price of oil fell in the summer months, with winter coming on the price of oil could once more escalate with demand.
It looks at the moment that I will accept Scottish Powers offer BUT this is not a recommendation on my part.

Woby_Tide

Ray_Coxon wrote: »

With regard to comments in the Daily Express about the cost of oil falling, bear in mind that the price of oil is quoted in US dollars - it has fallen from a peak of 134$ to about 100$. At the same time the pound has fallen against the dollar from about 1.80 to 1.55 so according to my calculations on the basis of these figures a barrel of oil when the price peaked would be about £75 compared with about £65 now, not as big a drop as one might think. However my calculations are simplistic and no not take into account forward contracts etc.

Not sure where the $100 figure came from, it's closed under $65 this week so the difference taking the $/£ figures is now £75 down to £42 which suddenly looks more considerable

mumsandra

The following paragraph is quoted in their pdf leaflet http://www.scottishpower.co.uk/pricing_pdfs/ole/Fixed_Price_Energy_December_2009.pdf
Does this mean without penalty???

"Because we are buying the energy in advance we may apply cancellation charges inclusive of VAT of
£30 for electricity and £20 for gas if you switch to Fixed Price Energy December 2009 but then cancel
your supply contract or switch to another tariff before the 30th November 2009. This charge will not

be applied if the agreement is cancelled due to a home move."

Woby_Tide

it just says if you take up their price fix offer then cancel before November next year they'll charge you to leave