Put a cap on it?

mikedeuk

I joined Npower sign online about 18 months ago for Dual fuel. I haven't looked elsewhere since because i thought i was still paying around £55 pm.
After seeing Martin talk about switching i realised it was time to check how much i am actually paying.....£120! (more than double)

I did a quick comparison and Scottish power were cheapest at around £54. I know they are getting bad reviews for customer service but i just want the cheapest energy. I live alone in a small house so i believe my usage must be well below average.

But i just saw a advert that E-on are offering a capped service for 3 years! Im not really sure how this works and i realise i'd probably be paying above average but wouldn't i save alot over the long term if prices continue to rise next year?

Whats the best deal for me? (1st post, Sorry if this has been covered before)
Mike

KimYeovil

Scottish Power do not charge £54 for fuel that costs £120 from nPower. Do your sums again with more sensible figures.

mikedeuk

Huh? Npower just charged me £120 (probably cos i have used more over the winter), And scottish power quoted £54 average cost pm. Whats the problem?

KimYeovil

Scottish Power would also charge you more (whenever you use more over the winter.)

Scottish Power tariffs are not half the price of nPower tariffs.

And capped tariffs are not capped irrespective of useage - it is the price per kWh that is capped not your monthly payments.

macman

A 3 year cap will certainly give you peace of mind, it might even save you money (though I doubt it). But it's going to cost you a lot of extra money upfront to find out, as you'll be paying a premium rate in the meantime.

mikedeuk

macman wrote: »

A 3 year cap will certainly give you peace of mind, it might even save you money (though I doubt it). But it's going to cost you a lot of extra money upfront to find out, as you'll be paying a premium rate in the meantime.

Thanks for the helpful response, Think i'll just change to a new standard supplier then (obviously it wont be half the price!!). Fingers crossed i can bring my unit cost down!

Would be easier if suppliers were compared in the same way petrol prices are.:cool:

Airmike23

You'd be best of opting for online only tariffs, capped with Eon will be more expensive than the standard rate of all the big 6 power co's the online only deals from all the big six are the cheapest prices you can get from any of them, depending on usage (NEVER compare based on monthly direct debit amount) will dictate which one comes out best but it will be one of either; scot pow online energy saver 13, npower sign online 21, save online 5 from Eon, BG Websaver 11, edf online saver 9, and you can apply directly to SSE for Go Direct 5 (this tariff no longer available via comp sites)