Scottish Power, £4.00 month extra to fix, worthwhile?

Moonflowers

Ok, my question is pretty much in the title.

I can switch my existing package for gas & electricity with Scottish Power to a new deal which is capped until December 2012. )Capped Price Energy December 2012 product)

However, I'm told that this will cost me about £4.00 month compared to the deal I'm currently.

Do you think that in the long term, or rather in the next 2 years, this a worthwhile switch to make?

An alternative is their Price Tracker product which guarantees to be 2% less than British Gas standard monthly prices, but which is variable so would be subject to price hikes.

Any opinions would be appreciated.

macman

Fixing does not guarantee you only £4 a month more, that depends purely on your consumption. All it guarantees is no increase in the unit cost during that period. To get a 2 year fix, you are going to have to pay quite a premium on the current cheapest rate, unless SP know something that everyone else does not. All it's buying you is an insurance, but at a cost.
Nobody has any idea how prices will go, certainly not 2 years hence. If we did, then we'd all jump the same way. I would be every dubious about a 2 year fix-how high is the ETC on that tariff?
What do the comp sites say?

Moonflowers

Sorry - can you tell me what ETC stands for?

macman

Early Termination Charge.

Moonflowers

The ETC is £30 for electricity and £20 for gas.
Does that seem high?

Sorry - I'm new to the energy switching process, so excuse what are probably very simple questions.

macman

It's typically £30 per fuel. If breaking your contract will save you more than that, then it's worth paying to get out.