Scottish Power - which tariff?

uk1simon

Hiy,

I'm currently with Scottish Power Dual Fuel Online energy saver 11. I have recently checked a few comparison sites and SP seems to be the best option. They currently have two tariffs I'm interested in.
1. Online Energy Saver 16 - savings £88.
2. Online Fixed Price Energy January 2013 - savings £84.

Which tariff would you go for?
Energy prices are going up but I think next year prices might drop a bit and tariff no 2 might not be the best bet.

Can you please advise me on this one?


Regards,
Simon

Jeddy

I'm in a similar position also finding SP to be cheapest for me and was debating between the two tariffs.
To answer your question, I went for the fixed price.

As to why, my thinking went:
If prices go up or don't change I'm laughing.

If prices elsewhere go down slightly, I may be slightly worse off as I'm contracted in so can't switch without cost.

If prices elsewhere go down a lot I cancel the contract, take the £50 hit (hopefully I'll get £30 from switching to them via MoneySupermarket link on this website anyway).

So, in summary I may save myself anything between nothing and a fair bit of money, I may loose myself a small amount of money. To my mind the large upside (possible saving), outweighs the small downside.

That was my thinking, not advice, only you can decide decide this one.

As an aside, cynically I'm thinking the reason there is so little difference in price is that they know the next price move is down so want to trap people in on the fixed price deal. But I'm not prepared to put my money where my mouth is.

Jeddy

waynedance

looking at the same 2 tariffs myself, not sure if fixing is good or bad!!