Scottish Power v EDF

diamond_dave

I have dual fuel with SP fixed until Feb 2011 paying about £720 pa.Reading Martin's emails urging me to switch, I find that EDF will work out at £780 pa - but they are offering a rebate of £100 and if I switch through Quidco, I will get another £80 bringing my bill down to £600ish pa. Has anyone any thoughts on this? I reckon that even if EDF put up my bill by £100 I should still be in credit - but I will be losing about 2 months lower bills with SP. Any thoughts??

Premier_2

If you read Martins articles, it usually suggests you don't include cashback in any comparison.

This is because he says it's not guaranteed until it's in your bank account. The other important point is that it only applies once whereas the cheapest deal will save you for years to come (assuming prices don't change)

It's a bit different with cashback direct from a supllier as they will presumably cough up if you switch to them. However, it's still a one off bung.

Unless you want to keep switching, go for the cheapest deal excluding cashback and just think of any cashback as an added bonus.

If you do want to keep switching (a cash-back tart) then go for the deal that offers the biggest cashback (and no tie ins), as you'll be switching again soon so the actual tariff prices are probably irrelevent.

Happy_Shrimper

Worth a thought though. I think I'm on the same 2011 SP tariff which was fixed really cheap, but as it takes a while to go through, and the prices are on the rise, maybe now is the time to consider a switch?
Is there any penalties for leaving a fix early?

diamond_dave

Yes there is a penalty of £30 for each fuel taken if you change before December 2011.I still think that its a good deal. First Utility would be about £736 so I cant make up my mind as there's no guarantee that the prices will not rocket.