MSE News: Warning for Scottish Power customers on fixed rate deals

Toxteth_OGrady

If you haven't already thought about it or done so, it may be a good idea for all SP customers who came off a fixed price tariff yesterday to submit meter reading(s) right away. Otherwise the company will only be able to estimate what your usage/price was when the tariff automatically changed over.

:cool:

TOG

cw18

My meter readings were submitted today as I switched to OES6.... I was actually asked for them as part of the process.

tiptoes27

Good idea to do meter readings - thanks for that. What does everyone think about Capping now? I am inclined to go for a non capped rate, even though it is slightly more expensive in the hope that prices will fall over the next year.

cw18

With SP the capped isn't any dearer than the 'standard' - other than you have to pay a fee to get out of it after the end of this month.

If I read Martin's piece correctly (when he first mentioned the SP change of tariff not necessarily being the best), I got the impression that now isn't the time to go for a fixed rate though.

I did think about going onto the standard rate for now, and then watching to see if prices fell before picking up a capped rate - but the longer I wait for that the bigger the price drop needs to be (in order to offset the 3% saving I'd have missed out on by not picking up the OES6 now).

The comparison sites haven't been offering me anything significantly cheaper than SP's OES6 - and (up until this fiasco of SP automatically changing us onto a tariff without notifying us of all the options open to us) I've not had any significant issues with them in the 7.25 years I've been using them, so I was reluctant to change provider.


BUT if they try the same sort of thing when the OES6 is up, then I will give a lot more thought to switching!!!

tiptoes27

Had a quote from Eon which i did using the actual usage for the last 12 months and it reckons a saving of about £250.00 a year on the online tarrif (not capped) so I will prob go with that. Also can get £62.00 cashback with Quidco so a great saving overall. Just waiting to check on lin e with Scot power that they have moved me back to standard tarrif. General opinion seems to be not to bother with the capped at the moment. I was a customer of Eon in previous years and found the customer service very good, so was reluctant to leave them but did for a cheaped capped rate with Scot Power a year ago.

StevieJ

I note that gas prices are at multi year lows, will they soon be dropping prices or will they be claiming that their gas prices are aligned to oil prices not gas

saverjab

I rejected SP's Capped Rate when I received their 1st email ages ago, I checked the account this morning - to give meter readings - thanks for the reminder! and guess what I'm on their capped rate! Just spoken to SP and they've appologised and put me through to a nice lady who agreed EDF were 18% cheaper - so I've just arranged the switch!

linda1955

All the post so far seem to be about capped rates ending 31.08.09. My capped rate with Scottish Power was due to end on 30.09.09 but I have just received an e-mail saying they are extending the deal until the end of February 2010. I don't know whether to stick with SP until then or switch now. The energyhelpline website shows that EDF'S Online 5 tariff would be cheaper but I don't know if it takes into account the extension of my current capped tariff. I have switched in the past and found it was a bad deal and went back to SP, so I don't want to make a hasty decision. Can anyone offer some advice?

Thanks in advance.

cw18

I think I'm right in saying that the deal that finished on 31st Aug wasn't a capped one - at least, I think we were all on the same tarriff

That one was as Fixed price deal, which is totally different. They were moving us all on to a Capped rate one by default, but unless we expect prices to go up by more than 3% between now and the end of July (the current belief being they should be going down) then the Online Energy Saver 6 seemed a much better deal (Capped was capped at current 'standard' rate, but OES6 runs at 3% below the 'standard' rate). OES6 does have a penalty clause for pulling out early, and so did the capped if we moved onto that and didn't pull out by the end of this month.

froggy27_2

I'm reading all posts and still not sure.... My deal was also finished on 31/8. I did click to be put on the standard tariff.. even phoned but she said they were so busy that there was a waiting list for updates....
When i do the comparaison sites, SP and their OES6 comes close to others.. only saving me an extra £20-30 per yr so i'm wondering if it's worth the hassle and just stick to SP...
so confusing...