Should I fix at these prices........

Jenny.W

I'm with Southern Electric and not sure if I should fix?

NOW
Elec - 11.52p kwh and SC 13.72p
Gas - 3.15 and SC 27.97p

AFTER INCREASE
Elec - 12.06p kwh and SC 17.73
Gas - 3.81 and SC 297.97

FIXED for 3 years
Elec - 13.15p kwh and SC 19.33
Gas - 4.15 and SC 32.7

Would any of you fix at these figures?

victor2

That looks like about a 9% increase to fix for 3 years. Want to bet on prices going up by at least 9% over the next 3 years?
If you're happy with Southern Electric then I'd say fix. At least you know what you'll be paying over the coming years. See what penalty they have for leaving should prices drop or you find a better deal somewhere else. You never know!:rotfl:

jalexa

Jenny.W wrote: »

I'm with Southern Electric and not sure if I should fix?

I would urge you to do a whole of market comparison using a Consumer Focus accredited comparison website.

For accurate results you need your annual consumption in kWhrs. Ask your supplier if you do not know. Input your annual consumption and your current tariff and you will get a whole of market list of available tariffs in price ascending order.

Beware "guaranteed discount" or "deferred discount" tariffs if you are not 100% sure how they work.

Be aware also that variable tariffs from suppliers who have not (or only very recently) announced increases may be subject to imminent increase. However fixed (or capped) tariffs are accurate for the duration of the fix.

I advise that the "peace of mind" advantages of a fixed tariff over a winter period should be strongly considered. Especially now. If you move very quickly it may be possible to get a fixed tariff at "pre-increase" prices.

sbradnam

Bottom line - prices will undoubtedly be going up more than 9% in the next 3 years.....question is when, and how long you will therefore be paying over the odds

I fixed to 2013 with EoN - very happy with customer service. If you are ok with the company, and want some steadiness in your bills, then think about doing it.

It has encouraged me and the family to really save elec & gas as well...ie not waste it!!

Stu

Jenny.W

Thank you for your advice. Yes I am happy with SE, I do everything on line, even chat on line instead of calling them.

I asked for annual consumption and were give these figures (Summer 2010 to now):

Elec 2124kwh
Gas 6200kwh

He said I was a low user.


just went on uswitch and they came out with EDF "Fixed Saver 2 dual fuel" tarriff as the top choice and gave these prices:
Gas £75.592 Annual standing charge3.520p per KWh (3.352p excl. VAT)
Electricity £86.72 Annual standing charge10.52p per KWh (10.02p excl. VAT) All prices shown are inclusive of V.A.T. at 5%

Fixed to Sept 2012

victor2

Jenny.W wrote: »

Thank you for your advice. Yes I am happy with SE, I do everything on line, even chat on line instead of calling them.

I asked for annual consumption and were give these figures (Summer 2010 to now):

Elec 2124kwh
Gas 6200kwh

He said I was a low user.

So if I enter these all into a comparison site, is it really as simple as the top one is the best? Sorry to sound dumb but have never done this before.

That's pretty much it - there are different ways to view the results, of which cheapest first is understandably most popular. You have to consider everything. If you're happy with SE it's difficult to put a value on that, but is definitely worth considering. Don't forget the results given are only estimates based on the annual usage figures you provided.

jalexa

Jenny.W wrote: »

So if I enter these all into a comparison site, is it really as simple as the top one is the best?

NO! "Best" is very difficult to answer.

The "top one" is the "cheapest" headline cost but beware "gotchas".

Commonly "guaranteed (or minimum) discount" or "deferred discount" tariffs are at the top of table. Beware that type of tariff unless you understand the reason why these type of tariffs tend to be at the top of the table. And yes there is a reason.

Commonly Atlantic and NPower tariffs feature "deferred discounts" and it is clear from the tariff description which tariffs are "Guaranteed (or minimum) discount".

At this time I suggest you look (only) at "fixed" (or capped) tariffs. When I checked this morning there were still a few at "pre-increase" prices but they are likely to be pulled soon.

Jenny.W

see, this is such a minefield. I'm scared to switch in case it's not as black and white as it seems :-( then I'll be worse off. I'm really not so clued up on all this.

I just assume that the lower quoted kwh figures are what you should look for? (as the blue figures above).

jalexa

Jenny.W wrote: »

Gas - 3.81 and SC 297.97

is that a typo?

JennyW_2

jalexa wrote: »

is that a typo?

oops sorry.

29.97

I was thinking of switching to a fixed with EDF but their customer service concerns me.

jalexa

JennyW wrote: »

oops sorry.

29.97

I was thinking of switching to a fixed with EDF but their customer service concerns me.

That is a perfectly reasonable decision for you take. Not got round to answering your OP on the numbers. Maybe l8r.

I have posted in another thread about Edf CS, but to summarise here, it certainly is "poor" but as it happens my transfer to Edf FP 2014 has worked within the expected 4 to 6 weeks timeframe without once successfully making contact with Edf.

I conclude their back-office systems are better than the "buggy" new MyAccount.