'Wholesale energy prices are DROPPING. Was/ is fixing wrong?' blog discussion

Former_MSE_Helen

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "Wholesale energy prices are DROPPING. Was/ is fixing wrong?" Blog.

Please click 'post reply' to discuss below.

BigL_2

I'm with EON which has just announced a price hike in September. If I fix now, will this be at the existing "fix" rate or have they already increased the fix rate in anticipation?

Troublemaker66

I had a fix with EDF in autumn 2008 and was pretty satisfied with it. Then this spring I got worried about it because it was due to run out so switched to British Gas on another fix with a leaving penalty. I then got a call from EDF offering me another fix, and so I switched back. I have had to pay the leaving fee but I am satisfied because British Gas have always been very expensive.

ex-dmp

Why do people fix when you can cap??

Recently gone onto a Scottish Power cap deal to 2013 which was cheaper and longer than most fixed deals at the time.

shortchanged_2

That's why I wouldn't consider a long term fix. As although the general trend is upwards, the chart on Martin's blog shows prices do go down as well and with long term fixes you are most certainly paying a premium price for your gas and electricity.

katherinelc

i am currently on track and save 6 with Eon which is due to finish on 1st october, yesterday i got all the different tarrifs from them so i could work out what was best to do. Whatever tariff i choose to change to will go up by 15% except the fixed tariffs. If i fix for a year it will cost me about £180 more for the year, if i fix for 2 years it will cost me an extra £220 PER YEAR !! on top of what i am paying now. If i change to their cheapest online tariff with the rise it will cost me about £130 per year which leaves me £50 to gamble with as to wether it will go up again in the year. Last time this happened i was with british gas and i stupidly fixed on the 2nd highest tariff i ended up paying so much that i bought myself out and covered the cost of that by changing companies in the first 6 months !! I am going to stick with the cheapest online tariff and hope for the best.

Pincher

katherinelc wrote: »

Whatever tariff i choose to change to will go up by 15% except the fixed tariffs.

...I am going to stick with the cheapest online tariff and hope for the best.

You do know SaveOnline 9 is not fixed, AND yet it is not going up on 13th September?

katherinelc

when i spoke to them yesterday they told me that it will be going up but will still be 2% cheaper than the standard tariff

katherinelc

just went onto Eon website to see what i could find this is what it says - "With E.ON SaveOnline 9** for next 12 months your prices will always be at least 2% cheaper than our standard E.ON EnergyPlan prices as at 13 September 2011. So whilst your E.ON SaveOnline 9 prices can change at any time, you'll always know that you're saving."

madeinchina

I'm Economy 7; EDF price fix to march 2013 is cheaper right now then standard variable.

Does this mean they are about to cut electricity prices?