Fix til Sept 2012 or March 2014

babyfruitella

Aaaaaah, i'm just about to switch from British Gas to EDF & I have no idea whether to switch to the Online Saver V12 or the Fixed Price 2014. Help me!

gemmalouanna

I have gone for the 2014 as I like the idea of fixed prices for 3 winters so I know what to expect.

ppc1

gemmalouanna wrote: »

I have gone for the 2014 as I like the idea of fixed prices for 3 winters so I know what to expect.

I'm going for the March 2014 rate too.

We can always get out of the contract from March 2013 for free and even you decide to change supplier after March 2012 it is only £40.

I reckon its worth it for peace of mind.

ic

ppc1 wrote: »

I'm going for the March 2014 rate too.

We can always get out of the contract from March 2013 for free and even you decide to change supplier after March 2012 it is only £40.

I reckon its worth it for peace of mind.

I came to the same decision - after March next year the get out is only as much as any other variable tariff.

babyfruitella

Ah thanks everyone! I decided to go for the 2014 option before reading all your replies. I feel happier with my decision now!

myozone

I feel the idea of a FIXED tariff is to fix for longest time possible (on offer at the time!). I'm going from BG's Websaver 10 to SP's Fixed till 2015 - well 12/2014, it costs more now BUT with another ~25% increase next year it'll seem cheap - trust me !

jalexa

ppc1 wrote: »

I'm going for the March 2014 rate too.

We can always get out of the contract from March 2013 for free and even you decide to change supplier after March 2012 it is only £40.

Good points and even better, I think it is only £30 after March 2012.

keith1950

Hi, whether it is worth fixing usually depends on the premium you are paying for the fix, so on my consumption, it is only 7.5% dearer to fix.

Considering that EDF is one of the three big suppliers yet to increase prices by probably about 15-20% then its a no brainer what to do.

However ,thats on my consumption, if may not be as cut and dry if you are a particulary higher or lower user.

I switched to EON Age UK Price Protection 2013 for gas and Npower Fix 5 for electricity about two months ago , these tariffs have now been withdrawn for new customers and replaced with dearer alternatives, but on the comparison sites they are showing to be cheaper than even any current variable or discounted tariff available, on my consumption.

It just goes to show how quickly the situation is changing and how important timing a switch to fixed tariff can be.

grahamc2003

myozone wrote: »

I feel the idea of a FIXED tariff is to fix for longest time possible (on offer at the time!). I'm going from BG's Websaver 10 to SP's Fixed till 2015 - well 12/2014, it costs more now BUT with another ~25% increase next year it'll seem cheap - trust me !

That's my thinking too.

In my case, the mar 2014 costs almost exactly the same as sp's 2015 (or 31/12/2014) fix.

The value of the fix increases over time, and the value in Mar 2014 will be pretty large imv. An extra 9 months of fix at that time will be very valuable indeed.

I have to pay around an extra 2% over BG's increased prices (being 34% in my case) for Websaver 11 to fix with sp till 2015 (so i'll be paying about 36% more than I'm paying today when the switch is complete).

Like you, I think we're in for regualr 35-40% increases per annum for several years yet. (remember these big rises are coming at about 9 monthly intervals, not yearly).

AndysDad

babyfruitella wrote: »

Ah thanks everyone! I decided to go for the 2014 option before reading all your replies. I feel happier with my decision now!

Why bother to ask for peoples advice and then 'do your own thing' before reading other peoples views.:mad:

jalexa

AndysDad wrote: »

Why bother to ask for peoples advice and then 'do your own thing' before reading other peoples views.:mad:

Well, given that the tariff could have been pulled at any time I think that was very sensible. If the subsequent advice had worried the poster, then there was always the cooling-off period.

And the poster did thank, which is not always the case regrettably.