Do I jump from Npower and pay the £40 or Stick till 31/12? Opinions please

PsiDOC

Hi all,
I'd like some opinions please.
Here's the lowdown.
Tarrif: Npower Sign Online 20 Dual Fuel tied in till 31/12/11
Leaving Penalty: £40
Useage: approx 9000 kwh (£340) gas 3300 kwh (£340) electric annually.
Direct Debit: £59 a month

EDF's fixed till 09/2010 tarrif works out at £60.70 for the same amount, so not too shabby.
It's just the £40 that Npower will hit me for. As it's a discounted tarrif there's no jump out clause if they do raise their prices.

Should I take the £40 hit and jump now or sit it out?
Thanks all.

Psi

JasX

Can you use/find a cashback site to gain cashback for switching and offset (albeit with some risk of the cashback not appearing) the £40 exit penalty.

macman

Yes, because the imminent nPower increase will cost you much more than £40. And you can get £20 of that back if you switch via Quidco, currently paying £20 cashback.
Better be quick though, because EDF FSv2 will not be around for much longer.

evilmonkey69

I left when I was on SOL20 and was not charged an exit fee. This suggests it may be a deterrent as much as anything else. Email them to ask if they will apply the exit fee if you leave, as I don't think this is being applied to customer's leaving an npower SOL tariff.