EDF Online S@ver Version 6 ending this month!!

Premier_2

taxsaver wrote: »

If they go down, which I seriously doubt, then I can get out of the fix for a very small cost. The extra 2 years of the fxd14 will pay off handsomely imho.

The OP will be paying £100 a year more in year 1 and there is a £70 early exit fee (compared to £50 on other fixed tariff), well until end March 2012. This reduces in 2nd year to £30. It does not apply after 31 March 2013.

I wish I had your confidence over prices over the next 3 years! I'd be heavily into the oil & gas futures markets if I was so certain.

Edit: remember it was only last November (when prices were rising) that Andrew Horstead, research manager at energy analysts Utilyx, said:

"Prices have risen from the lows that we saw back in March but they still remain well below historic levels for this time of the year.

"SSE's decision to raise its prices by almost ten per cent could suggest it has been paying market rates for gas over the summer but shouldn't be seen as a green light for other suppliers to raise their prices.

"We expect to see gas prices come under pressure in 2011 given the demand outlook and prospects for supply so if anything, we'd expect prices to stay as they are or even drop.

"The concern though is that suppliers will follow the lead by SSE and lift their prices this winter, which we believe is unwarranted...

http://www.moneysavingexpert.com/news/utilities/2010/11/will-other-companies-follow-sses-lead-the-experts-views :cool:

Obviously even 6 months is a long time in this marketplace

Sultan3

Was also made redundant 2 years ago. Was on EDF osv6. Went on to fixed rate 2014 last week. Three years is long I know. But with recession, turmoil in the middle east. Just one less bill to worry about, as far as price increases are concened. Took me two minutes on the phone .

LoopyPrune

Suppose I can offset any increase in monthly payment by switching a few more lights off etc. We aint the best family in the world for conserving energy. I do like the idea of fixing and tbh I cant be bothered moving from EDF so Im going to either go for the 1 year or the 3 year. Just cant decide yet which one it will be.

macman

If the OP is looking for a short term fix due to the redundancy situation, then EDF FSv2 is the obvious way to go at present. That will take them through to next September for another fiver a month. Completely agree with Premier.

LoopyPrune

After talking to EDF on the phone and putting my correct readings into comparethemarket. Its would seem the 1 year fixed is only a 4.7% increase over what Im paying now.

I take it the Scottish Power prices should be ingnored as they wont be taking into account the price rises later in the year?

Only other provider coming anywhere close is Npower Sign Online 22 at 4.5% increase. I could get a £40 cashback to cancel out that 4.5%.

Online [EMAIL="S@ver"]S@ver[/EMAIL] 10 is the best at 2.5% increase.

The difference between best fixed and best variable is only 2.2%.

macman

It's not a one year fix, it's 30/9/12. 16 months.