Does anyone here not fix and keep switching?

martyp

Hi all,

I wondered if anyone here has never chosen to fix and just keeps switching to a different supplier/tariff whenever there's a price increase?
I know having a fixed rate deal for a set period of time means no worries but could it possibly work out better to keep switching from one to another to get the cheapest deal for you each time without ever fixing?
Fixing always worries me as with the pain many people have experienced having fixed mortgages at 6-7% before the BoE base rate drop... Is it really that certain that prices are inevitably going to go up and up or could ofgem change something, coal prices etc drop etc etc...
Just thought I'd find out if anyone had had any proven savings by doing this?

HappyMJ

Last year from April 2009 to April 2010 I switched 4 times to take advantage of the high Quidco cash back offerings. The total cost of my gas and electric for the entire year taking into account the quidco cash back and the topcashback amounts was very nearly zero. I think it was aboout £12 for the year. This year I've stuck with Npower as it's quite cheap anyway and they offer a £100 auto cash back every year. I'll be looking to move soon as I have not yet had that cash back despite now being with them for 14 months and despite the email promises that it will be credited to my account.

martyp

Wow, £12 for a year of electric and gas? That's amazing! I take it there wasn't any penalty charges for leaving any of those plans then? Which providers did you use out of curiosity?
When I checked cashback in topcashback it only seemed to be about £20 and my yearly cost is around £700-900 roughly so couldn't see myself saving that much even with the cashback. I've not been with npower since I moved into my house from a flat about 6 years ago (despite working for the company that owns them!)

Money_Doctor

HappyMJ wrote: »

Last year from April 2009 to April 2010 I switched 4 times to take advantage of the high Quidco cash back offerings. The total cost of my gas and electric for the entire year taking into account the quidco cash back and the topcashback amounts was very nearly zero. I think it was aboout £12 for the year. This year I've stuck with Npower as it's quite cheap anyway and they offer a £100 auto cash back every year. I'll be looking to move soon as I have not yet had that cash back despite now being with them for 14 months and despite the email promises that it will be credited to my account.

MJ I presume you just paid any penalties each time to move and by the time cashback taken into account still in profit?