nPower fixed rate 2011 rip off!!?

Plushchris

basmic wrote: »

This is why you shouldn't take Martin's advice as gospel.

SWITCH NOW! NOW! NOW! NOW!

Oh wait... what happens if we ride out the 6 months of higher prices? I'll tell you what happens - you end up paying the now reduced prices.

I detest scare mongering, and Martin Lewis guilty of just this! He used people's fear of energy prices continuously rising, so they all capped their prices - but to cap your prices, you pay extra. Hmmm, wait...something's not right - I'm paying say £80/month, and you want another £15/month to cap my prices? Ooooookaaaaayyyy...?!

So what if those prices come down? Well now we have whining threads with people suddenly wanting to know if they can drop out of their capped price tarriffs, because people's bills are now falling well below theirs! Yes, at further cost! Hey, this capped price tarriff is really paying off, eh?

Next time, engage your brain before falling for profiteering scare mongering tactics.

The people that engaged their brain at the time Martin suggested going for a capped should still be ok,

Martin said cap before prices go up 30%

People should have took out capped rates at around the same price as they were paying.

Prices went up 30%

Prices now have gone down by a maximum of 10%

Meaning prices are still 20% more than they were when Martin said cap.

When I looked at the time Martin said cap there were only a few fixed tariffs that were costing more than I was paying anyway and they were the long term ones from BG & Npower.

Magentasue

I fixed last year and, until very recently, couldn't have found a cheaper tariff. Now, I can. But only for electricity, my gas is still cheaper than best tariff on comparison sites. Once I've paid the penalty for switching electricity, lost my duel fuel discount and got cashback, I'll be about £10 worse off. However, I paid lower prices through the autumn and winter and will paying even less from now on.

I agree that switching because someone tells you to is daft, but fixing isn't always a bad decision. You just need to make it an informed one.