Confused with gas/elec

GSXR6

Hi all
The O.H was supposed to be sorting this out but she got lost with all thats going on ATM so its fallen to me to try and sort it I am at a total loss on what to do with gas/electricity and was hoping to get pionted in the right direction.
Here is our situation
We are with Scottish power online enegy saver 8
We pay by direct debit but happy to pay any method thats cheaper
We are not locked in but they told Mrs that we need to let them know what we are doing by 1st August (today) for some reason.
There is no penalty to leave
Our usuage as far as i cant tell was gas 15100, elec 5091
Not sure I understand this bit but we currently pay-
Elec "prem"17.191, "second" 11.99
Gas"prem" 6.109, "second"2.889"
No standing charge (edited to correct pricing)

Every time I read something its a different opinion ie "fix to save" or "dont fix and see what the other companies do for the best deal"
if I use the comparison sites they say switching to the likes of Npower will save £200 but whats the pint if they are hiking soon?
I would really appreciate some advice!
Thanks
Chris

macman

You don't have to let SP know anything by today. However, once OES8 ends, you will revert to Standard tariff (the most expensive variable tariff). I assume that is today.
You need to decide if you are going to fix or not-if you are, then you can still get EDF Fixed Saver v2 if you are quick.That would save you approx £230pa against what you will now pay on SP Standard following the SP increase.

dogshome

Hi GSXR6 - You are on a "No Standing Charge" tariff, (Commonly called NSC)
But that doesn't mean you don't pay a Service Charge - Standing Charge tariffs collect this by adding a daily fee for every day of the year - *NSC tariffs collect it by chargeing a "Prime" price for fixed number of Kilowatt hours, (Kwh),each year, then charge the rest at a lower "Secondary" price.

*Most utilities ration out the Prime cost Kwh on NSC tariffs on a daily basis according to how many days the bill covers - Except n'power who charge for more of them in winter and fewer in Summer, which inflates Winter bills.

I think the per kwh prices you have listed for your annual consumption are the wrong way round:
Gas should read 6.109p Prime/Sec 2.889p and Elec should read 17.191p Prime/11.99p ?

Prices are in a state of flux at the moment as some Utilities have announced price rises whilst others are yet to announce theirs - I personally am checking the Switch sites on a weekly basis before I move

GSXR6

Just got off the phone to SP, found out a few bits...

macman- my OES8 finishes November this year. The reason we have to sort it out today is that (apparently) they gave us 30 days notice of the price increase which comes in today so we have to tell them we are leaving (if we are) by close tonight and the new supplier needs to tell them within 15 days of from now.

dogshome- ooops! I did get the prices the wrong way around.

If I stay on OES8 the prices from today are Gas- 7.5/3.5 and Elec 23.85/11.199 (both first 225kw)
We currently pay £102 per month, He then reeled off a load of fixed deals ranging from £111 to £126/ month

The £111 was called "platinum" and inclues boiler cover but the rates are-
Gas- first 675KW 11.61 then 3.58, Elec first 225kw 34.3 then 11.54, obviously the higher first KW on the gas is to recoup the boiler cover.

macman

You don't have to tell them anything by tonight, they are just trying to panic you into a new contract.
You just need to decide if you want to fix or not, and if so who with-at present it's not a difficult choice-EDF have the only 2 cheap fixes left.
However if you switch now you'll have to pay the ETC on your existing tariff-but the savings may still make that worthwhile.

GSXR6

I think thats what they were saying, if I tell them by tonight I wont have to pay the exit as I am still within the 30 day notice period of a price change (the bloke said that the regulations say that even if I am tied in and they announce a price change I have 30 days to leave without penalty)
I think what is making this hard is using the comparison sites doesnt give the whole picture, they are telling me I could save about £200 per year but thats against companys that havent increased yet. If I go ahead and move its likely I will be no better, or even worse off if they hike. Am I understanding this right?

The only option to save money seems to be to fix. I had a look at EDF but I was with them at the old house and the customer service was appalling. OVO seem to be offering a reasonable standing charge fixed rate offer too.

macman

The comp sites simply reflect prices as they are: 3 of the big 6 have already announced their increases, 3 have not, but can be expected to do so shortly. Hence Eon, nPower and EDF variables still look relatively cheap.
Fixing is not necessarily cheaper-no one knows. What you are paying the extra for is insurance against future rises.

Pincher

If you intend to switch, there is indeed a grace period:

http://www.moneysavingexpert.com/news/utilities/2011/07/escape-energy-lock-ins-as-prices-soar

GSXR6

Thanks to those taking the time to reply, I appreciate your help.

After a lengthy discussion with SP, they cannot match OVO so I have informed them that I am leaving and contacted OVO to start the ball rolling. If I change my mind I have 7 days anyway just incase SP come up with some fantastic new product.
Based on last years usage I will be saving about £150/annum with OVO against SP's new prices plus I have avoided the £40 exit fee by informing them today.

Pincher wrote: »

If you intend to switch, there is indeed a grace period:
http://www.moneysavingexpert.com/news/utilities/2011/07/escape-energy-lock-ins-as-prices-soar

...which says SP customers must contact SP by today

macman

But OVO have yet to raise their prices...

GSXR6

macman wrote: »

But OVO have yet to raise their prices...

Its a fixed price for 12 months