Switchng to capped tariffs

poppyman

Martn is pratically beseeching us to switch to avoid the inevitable price increases but I've found it impossible to find a reasonably priced capped tariff. The best, actually least worst, tariff is 24% more expensive. Even with the swingeing increases started by Scottish this week (averaging 15% for dual fuel) is it worth switching? I am an average user, (I think, 7000 kwh elec and 27000 kwh gas pa) and live in the Northern region.
It's a case of heads the energy companies win and tails we lose..
Any ideas?

Premier_2

Many people on here have realise that their SP tariff will cost about 40% more next year. If you can fix/cap at just 24% increase that sounds like a winner.

Be careful against comparing to any variable rate (except SP) as they are likely to be going up very soon. Hence why Martin suggests capped/fixed tariffs only at this time.

Btw, you are not an average user. An average user is said to use 3300kWh of electric & 16500kWh of gas - you look like a high user.

Edit: Using your figures on energyhelpline, it shows the cheapest deal today is SP Direct October 2012 @ £1532
You are presumably not on that, since it only has just been released.
So the next best deal is EDF Online S@ver 10 @ £1571 (which is likely to go up soon)

The best capped deal is EDF Fixed S@ver 2 @ £1647

I calculate that to be an increase of less than 5% to secure the fix rate - where did you get your 24% figure from? :huh:

poppyman

24% increase figure from helpline.com (acting for the Guardian). This is for a transfer from EON Saveonline 2 to EDF Fixed saver 2.

So I should go ahead then?

Premier_2

poppyman wrote: »

24% increase figure from helpline.com (acting for the Guardian). This is for a transfer from EON Saveonline 2 to EDF Fixed saver 2.

So I should go ahead then?

Your tariff will expire end August this year, so you will be paying a lot more from then anyway

As you get a 26.2% discount, you will lose this discount on the final bill if you end early.

macman

poppyman wrote: »

24% increase figure from helpline.com (acting for the Guardian). This is for a transfer from EON Saveonline 2 to EDF Fixed saver 2.

So I should go ahead then?

No such site-do you mean www.energyhelpline.com?
EDF FSv2 is only marginally more than the cheapest variable tariffs, so it won't be around for long.
25% is not correct. Using your figs (in my area) I get a 21% diffference, £1408 up to £1708.
You are a high user; 7,000kWh for electricity is very high for a property with gas CH and hot water, the average is around 4500kWh.

inspirespirit

I spoke to my energy supplier today (Southern), and they have told me they have no plans to increase. They said most companies did an increase in Dec 10 but apparently Scottish did not, and are therefore playing catch up.
Just hope she was telling me the truth.

macman

poppyman wrote: »

24% increase figure from helpline.com (acting for the Guardian). This is for a transfer from EON Saveonline 2 to EDF Fixed saver 2.

So I should go ahead then?

No such site-do you mean https://www.energyhelpline.com?
It's a 21% difference, £1408 up to £1708.

macman

inspirespirit wrote: »

I spoke to my energy supplier today (Southern), and they have told me they have no plans to increase. They said most companies did an increase in Dec 10 but apparently Scottish did not, and are therefore playing catch up.
Just hope she was telling me the truth.

They'll never admit in advance to an increase, nor would the first level sales staff know about it if they did.Theyll stick with that line until the day the price increase is announced!

Premier_2

inspirespirit wrote: »

I spoke to my energy supplier today (Southern), and they have told me they have no plans to increase. They said most companies did an increase in Dec 10 but apparently Scottish did not, and are therefore playing catch up.
Just hope she was telling me the truth.

Also the phone jockeys know diddly squat about their competitors - they struggle to understand what their own company is doing

For the record, E.ON announced their last price general change/increase 11 Jan 2011 of 3% gas & 9% electricity. The previous price change was effective 31 Mar 2010 which was a 6% price reduction in gas only.

Scottish Power were one of the early starters last time too, and made their change effective 25 November 2010 (2% gas and 8.9% electricity increases). Prior to that they reduced their gas price only effective 31 Mar 2010 by 8%