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MSE News: Scottish Power launches cheapest fixed energy deal

edited 30 November -1 at 1:00AM in Energy
23 replies 4.5K views
MSE_GuyMSE_Guy MSE Staff
1.7K posts
I've been Money Tipped! Newshound! Chutzpah Haggler
edited 30 November -1 at 1:00AM in Energy
This is the discussion thread for the following MSE News Story:

"Scottish Power has provided some much-needed good news for households amid a round of price rises ..."
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Replies

  • PincherPincher
    6.6K posts
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    Chicken. :D

    The fixed prices will be coming down, just like mortgage rates. :j
  • Speaking as one who, for the first time ever, stupidly fell for the 'fix now or die of hypothermia next year' propaganda, I totally agree that fixing now isn't the best idea. Was it Cher who sang 'if I could turn back time....'? :o
  • erdd2erdd2 Forumite
    1.1K posts
    What about the fixed deals that claim they will lower prices if there was to be decrease? Are they worth considering?
  • bondy01bondy01 Forumite
    400 posts
    But it's still dearer than EDF Fixed [email protected] (that I'm on) and EDF Fixed [email protected] V2 that was pulled earlier this week.
  • grahamc2003grahamc2003 Forumite
    1.8K posts
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    Still happy with my recent fix till 2015. And if or when I'm not, I'll pay £30 to cancel - not that I expect that situation to arise - certainly the new one year SP fix doesn't interest me.

    The way I see it is that the source fuel costs are becomming less and less of our power bills - retail electricity bills for example comprise just 30% for their wholesale cost, and even that is far from 100% source energy. More and more electricity will rise due to a multitude of green costs piled onto them - someone has to pay for the fits, the windmills, the operating subsidy to most forms of renewable energy, 'free' cavity wall insulation etc etc. Good luck if you think these elements are going to decrease, or even increase less than any possible decrease in source fuel costs such as oil, coal or gas. Then we have, or we'll soon have out of necessity, a Nuclear build program, the costs of which will also be loaded on (as will the planned grid extensions for remote and off shore windfarms, adding up to billions).

    You tend to hear some of those factors when oil prices drop (as the excuse for not dropping prices), but you don't hear them when prices are bumped up due to rising oil prices.
  • PincherPincher
    6.6K posts
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    My nightmare is this.

    Recession causes oil to hit $30 a barrel, utilities offer 5 year fix at £1,200 for high user, March 2012 to March 2017.
    Economy recovers, inflation hits hard, variable tariff hits £2,500 for high usage.

    And then I have to move house! And they won't let me take the fix with me! :eek::eek::eek:
  • coupleukcoupleuk Forumite
    318 posts
    This is purely a PANIC from Scottish Power as they are worried about the huge numbers who jumped ship when they hiked up their prices.

    They underestimated just how many people now closely monitor their utility bills etc and are happy to switch and not just stay with a supplier as "they've always been with them" - consumers are now far more price aware.

    I think the same thing may well happen with the banks as they think what they can start charging for - RBS has started so the others will follow.
  • coupleukcoupleuk Forumite
    318 posts
    LMAO - just had a phone call from Scottish Power trying to get me to stay with them.

    Their best offer is a 3.5 year fix "Online Fixed Price Jan 2015 NSC".

    Unfortunately, that deal is £112 more expensive in year 1 than my Npower fix (£867).

    Must try harder !!
  • When I spoke with someone from SP a few weeks ago, I was informed that they also have a "capped" deal (until early 2013 I think). I pointed out that as they disliked reducing prices so much, I would either stay or go but I wouldn't commit to anything as it is often more viable to switch via a switching site.
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