Can I switch without penalty and should I go fix?

abbas786

Ok, I was with EDF Energy and left in April to go to British Gas WebSaver 11 for Gas & Electric, having read the articles and member posts here I know I can leave BG before the 18/08 without paying the exit fee.

However I'm not sure if I should switch to fixed tariff or Variable. I live in the east Midlands and my annual consumption with EDF was as follows:

Electricity consumption is as follows
TOTAL CONSUMPTION : 8581 KWH

Gas consumption is as follows
TOTAL CONSUMPTION : 41724 KWH

Yes I know its alot and we are trying to reduce it, but its a large house. My dilema is should I go fixed or on a variable tariff.

Energy Helpline quotes that my current spend is £2426 a year! but if I go with E.ON SaveOnline 8 I will save £321(13%) a year or if I go fixed then its EDF S@ver 2 saving £123 (5%) a year.

What do you guys think I should do and Quidco is giving £50 for E.ON at the moment increasing the savings.

abbas786

Anyone ? not sure if the two above are popular tariffs that may be pulled.

Also should I let BG know that I plan to leave now, or start the switch process and then contact them?

ihateyes

abbas786 wrote: »

Ok, I was with EDF Energy and left in April to go to British Gas WebSaver 11 for Gas & Electric, having read the articles and member posts here I know I can leave BG before the 18/08 without paying the exit fee.

However I'm not sure if I should switch to fixed tariff or Variable. I live in the east Midlands and my annual consumption with EDF was as follows:

Electricity consumption is as follows
TOTAL CONSUMPTION : 8581 KWH

Gas consumption is as follows
TOTAL CONSUMPTION : 41724 KWH

Yes I know its alot and we are trying to reduce it, but its a large house. My dilema is should I go fixed or on a variable tariff.

Energy Helpline quotes that my current spend is £2426 a year! but if I go with E.ON SaveOnline 8 I will save £321(13%) a year or if I go fixed then its EDF S@ver 2 saving £123 (5%) a year.

What do you guys think I should do and Quidco is giving £50 for E.ON at the moment increasing the savings.

if you switched to websaver in April, if you leave BG you will pay £30 per fuel..... unless you switch to another BG tariff

brewerdave

Remember that EON Saveonline v8 isn't fixed - only guaranteed to be 2% less than standard tariff -and its highly probable that EON will follow the rest of the herd shortly and announce ~ 12-15% increases, on that basis your "saving" will vanish - better to fix IMHO !!:T
edit - presumably Energyhelpline has already factored in BG rises - because Websaver 11 originally was cheaper than EDF FIXED SAVER 2

keith1950

Hi abbas786,
you do not need to contact the old supplier, when you switch the new supplier waits around 14 days in case you change your mind then contavts the old supplier to start the switch.

booter

Hi abbas786 - I'm in exactly the same position, with exactly the same queries as you (although my kwh are a little less than yours(!) - approx 25,000kwh gas, 6500kwh elec). I was going to post the question myself, but I hope you don't mind if I jump on the back of your thread?! (And in the process bump it unashamedly)

Looking through this thread:
https://forums.moneysavingexpert.com/discussion/comment/45404678#Comment_45404678
as I understand it, BG are "waiving" the exit fees.
However, I still don't get whether it's better to fix or not. And if you don't fix, could you be back to square one after the switch has gone through - the new supplier then increases their rates?

In my position, according to energyhelpline.com, if I switched to a fixed rate (fixed saver v2) (fixed until Sept.2012) I could save £83.00 a year. But with Eon's saveonline 8 dual fuel tariff, I could save £183 a year.

I assume that with fixed price tariffs, contractually, as soon as you agree to switch, the prices you've been quoted are the prices you get - end of story. With variable tariffs, then if that supplier hasn't already put their prices up, then whichever tariff you're on, if they announce a price increase, you're back to square one. Maybe we need a list of who's still not increased their prices?

I'm sure that if I'm incorrect in any of my assumptions, then someone will be along to tell me (hope so anyway!) So, if anyone has any answers .......?!

System

Without a shadow of a doubt, you should both fix, as should anyone on a variable tariff. Either the EDF fixed saver 2 or EDF 2014 fixes are good options and are the cheapest if you want a short or longer term fix. (I think Npower price protector is reasonably priced too).:money: You would be making a mistake in switching to a variable tariff, particularly with a company that has not yet put their prices up.
I was with Scottish Power and had the option of moving onto their online saver 14 variable tariff, which wasnt affected by the price rise. I wasnt tempted for one second (even though cheaper than EDF fixed saver 2 which I went for), because 2 months down the line and they could raise the price to make it in line with other tariffs.

Whatever you do, fix fix fix!

System

Oh and for info: EDF, Eon and Npower are the big three yet to announce price rises.

adamcarvell

would you switch frpm bg websaver 11 currently paying 38 electric 69 gas a month and im about in credit with both just ?

booter

Thanks payvpac - so what's the best procedure? Do a "straightforward" switch online using energyhelpline (or any other?), or contact BG beforehand to confirm (persuade) them not to charge exit fee? Any suggestions?

booter

adamcarvell wrote: »

would you switch frpm bg websaver 11 currently paying 38 electric 69 gas a month and im about in credit with both just ?

Try a price comparison - you may find you'd be better off switching, especially if you can get a fixed rate.