To cap or not to cap???

Xav

Right people, I am in torn between three deals here ....

I am currently with Powergen, and being a fairly low user it was OK with them. With the latest round of price increases I have reviewed my spending and it turns out that EDF is going to be the cheapest (by about £60 a year).

Now based on today's prices, with EDF online I would pay some £450 a year (I told you I was a low user ). With EDF online capped until January 2008 I would pay around £540 a year and with Powergen capped until 2010 I would pay £600 a year.

A touch of maths and you can see that the capped deals are about 25% and 35% dearer than the current online deal, but then who knows what the price will be in 2008 (let alone in 2010).

So the poll below is for you :
1 - go with EDF online and so be it for any forthcoming increase
2 - move to EDF capped at least to see the next 20 months coming
3 - move to Powergen capped

Thanks for any reply

mad

Have a look at this article it might add help with the deliberations

http://money.guardian.co.uk/weekly/story/0,,1728089,00.html

I do believe you can go for a capped rate and get out relatively / financially painlessly in some instances

snaffler

Capped can be tricky sometimes they only cap one fuel which means if the other goes up silly money you are tied and you have to pay the swines to get out.

I have been doing this before in the past but have since decided not to due to the current climate, and I am glad I have not, I have saved myself a good £110 per year moving to Southern Electric.