should i fix?

macman

OK, so if you wan to fix, do it now using a comp site.
If you want to stay on variable, wait until EDF announce their increase.
But remember that if you are on a discounted tariff, you may pay an ETC if you leave early.

adamcarvell

the edf 2014 fix that wont rise? if i fix now however reviews of edf are not good which is giving me second thoughts about them.

jalexa

adamcarvell wrote: »

the edf 2014 fix that wont rise?

A "fix" is "fixed". Sorry I don't understand your question.

Regarding Edf "reviews", there are several threads on the forum including some posts on Edf stupidly changing DDs of people who know what they are on about. There are also posts from "unconfident switchers", who have displayed enough "positive mental attitude", with a bit of support from the forum, to "successfully" switch. And benefit from the currently competitive rates. The product coming out of the wires and the pipes is identical.

A far better objective is not "good customer service" but to have no need for further contact with the supplier. Unfortunately on that yardstick Edf are still reportedly shooting themselves in the foot, something I have experienced myself.

I don't regret switching to Edf (it's the tariff stoopid). What you do is entirely up to you, both on "fix" and supplier.

macman

Or EDF Fixed Saver v2.
No fix will rise.

kar999

Article in this weekends FT. http://www.ft.com/cms/s/2/f5c7d8fa-d7c3-11e0-a06b-00144feabdc0.html#axzz1XiczO5Fa

Fixed tariffs also mean missing out on savings if wholesale energy prices start falling again – or paying cancellation fees of around £20-£30 to opt out of a deal before the end of its term.
David Hunter, energy analyst at M&C Energy Group, said there had already been some changes in the price of energy that could benefit customers. “There were some major increases to the cost of wholesale energy this spring but, recently, the price of gas has plateaued and the price of electricity has come down a little,” he explained.

I avoided the big six cartel and went for the Coops variable tariff which pledges:

When you sign up to Co-operative Energy, we buy your energy upfront for at least three months. So when costs rise, we don’t have to raise our prices immediately. Instead, we can give you plenty of notice and guarantee to keep your price unchanged for at least one month (we are aiming for three), to give you time to shop around if you want to. That’s part of our policy of openness, honesty and transparency. But when prices fall, we’ll pass the benefit on to you straight away.

macman

Cancellation fees are not anything exclusive to fixed rate tariffs-the majority of variable discount tariffs now impose an ETC.
I hardly think that you need to be a financial journalist to work out that a fix will be bad news if prices do fall.

kar999

macman wrote: »

I hardly think that you need to be a financial journalist to work out that a fix will be bad news if prices do fall.

We have been bombarded by the news of ever higher energy prices for months and Martin shouting fix now! I think the FT is pointing out that the current prospect of a global slowdown or even a recession Mark II is making the possibility of falling energy and commodity prices a possibility.

Given these current economic indicators, a long fix is not an option I would persoanlly go for.

I went for the cheapest variable rate (and highest cashback), and the longer it stays cheaper than a fixed rate the further out and higher the break even percentage point gets before I'd be out of pocket.

HalloweenJack

the prices have dropped so much in the last 6 months that retail prices should now be going the same way

instead we have the !!!!!!!! that they need to go up.

macman

But they'll say that they have bought forward contracts right through the winter at the higher rates.

kar999

Whilst we have a Cartel and Offgem has no teeth they'll always try and find a way to keep prices high.