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

backfoot

Apparently, you can twitter them a meter reading. :rotfl:

I joke not.

https://forums.moneysavingexpert.com/discussion/3385816

Carmella

Hi, I'm making a similar decision and feel positive by EDF's fixed price deals and am leaving Scottish Power. I'm prepared to live with the specific risks about customer service mentioned earlier (but glad to be warned about them). The thing I'm struggling with is the Sep 12 or Mar 14 choice and don't know how to work out which is better. Any advice welcome... but I see this post is leaning fairly strongly to Mar 14..... Apologies if slightly shifting the focus is the wrong thing to do in a thread. I am a newbie!

victor2

Carmella wrote: »

Hi, I'm making a similar decision and feel positive by EDF's fixed price deals and am leaving Scottish Power. I'm prepared to live with the specific risks about customer service mentioned earlier (but glad to be warned about them). The thing I'm struggling with is the Sep 12 or Mar 14 choice and don't know how to work out which is better. Any advice welcome... but I see this post is leaning fairly strongly to Mar 14..... Apologies if slightly shifting the focus is the wrong thing to do in a thread. I am a newbie!

I have recently switched to EDF and went for the Sep 12 option so if I find their customer service unbearable, I have the ideal opportunity to switch again without penalty sooner rather than later. At least I've got fixed rates until then.

jalexa

Carmella wrote: »

Hi, I'm making a similar decision and feel positive by EDF's fixed price deals and am leaving Scottish Power. I'm prepared to live with the specific risks about customer service mentioned earlier (but glad to be warned about them). The thing I'm struggling with is the Sep 12 or Mar 14 choice and don't know how to work out which is better

Look like a no-brainer. FP 2014 has an 8% premium over FP 2012 in return for a fix covering 2 further winters. How much do you think energy costs will increase in that time?

I concur with the customer service horror stories but I can report that my switch (using TheEnergyShop) has just successfully completed 100% error free without having had any contact with Edf (because it is "impossible"). I conclude that (currently) the back-office systems are fine.

I provided TheEnergyShop accurate annual consumption. Edf's calculation of my monthly DD is accurate to the pound. I am hoping there is no need ever to contact them.

Carmella

jalexa wrote: »

Look like a no-brainer. FP 2014 has an 8% premium over FP 2012 in return for a fix covering 2 further winters. How much do you think energy costs will increase in that time?

Thanks for the posts which are helpful. However, it may be a no-brainer to you but it isn't to me which is why I'm seeking advice! I have no idea what energy cost increases will be in that time. Presumably I need to know whether the increase at the end of the initial fix will be above the current fixed price and sufficiently so to justify the premium already spent. I worked out that prices in the period Oct 12 to Mar 14 would have to be £14 more than the shorter term fix. Otherwise it's better to go for the low price fix until Sep 2012.

If it's a no-brainer please could you just tell me which you think is better!

victor2

Carmella wrote: »

Thanks for the posts which are helpful. However, it may be a no-brainer to you but it isn't to me which is why I'm seeking advice! I have no idea what energy cost increases will be in that time. Presumably I need to know whether the increase at the end of the initial fix will be above the current fixed price and sufficiently so to justify the premium already spent. I worked out that prices in the period Oct 12 to Mar 14 would have to be £14 more than the shorter term fix. Otherwise it's better to go for the low price fix until Sep 2012.

If it's a no-brainer please could you just tell me which you think is better!

It is impossible to say how much prices will increase. I always see fixed price deals as putting my mind at rest regarding what my energy usage will cost me for the duration of the tariff. In the past, they have always gone in my favour with the increaes outstripping the initial premium paid. That has applied to both 3 year and 1 year fixes I've previously had.

The way prices are going it looks like you will financially benefit from the longer term fix. You say you can live with their customer service - I'm still trying to get my direct debits with them sorted out, as they haven't taken any yet! Had I been staying with E.On, who I was with before, and EDF's rates were being offered, I would probably have gone for the longer term fix, because they have always given me good customer service.

jalexa

Carmella wrote: »

If it's a no-brainer please could you just tell me which you think is better!

Sorrry. Didn't mean to cause offence.

One tariff fixes over 2 further winters in return for an 8% premium. I don't think you will find many commentators or pundits who don't expect a significantly greater increase in that timeframe.

It's your decision, but surely my opinion is clear from my personal choice stated in my post?


Edit: OK re-read my post and sorry it wasn't clear (though it is in other posts). I have switched to Edf FP 2014.

Carmella

Unfortunately E.on aren't offering the good prices that EDF are (am I right that you were saying you wouldn't want to go to EDF because of the severe problems you've had with Direct Debits but you would nevertheless want to go with the longer term switch). I do hear what you say though about poor customer service and will reflect on this.

brewerdave

For my personal usage,I ran a fairly complicated spreadsheet to compare the best currently available tariff (EON Saveonline v8) vs the two EDF fixes - allowing me to input various % increases at different dates over the period of time til end March 2014. (My brain almost fried setting up the spreadsheet!)
That showed me that realistically the fix til 2014 was best for my particular circumstances - unless the bottom falls out of the energy market after August 2012 that is!!

Carmella

No offense taken. It's been quite helpful to reflect on whether I've got a brain. When it comes to this area, and working through the different choices, I find I really struggle and am not tuned into what the norms and general knowledge is, so I keep needing to clarify and check!! Thankfully, I'm good at other things! I've got the message. Longer term tariff looks likely to be better value and offers a guarantee which isn't at an enormous premium. However I should be aware of customer service issues which people who aren't dealt with automatically find extremely frustrating. Many thanks