Is it worth paying £100 to switch?

jonny2510

After reading the MSE email this morning, I did a price comparison, and it looks like the EDF Blue + Price Promise tariff would cost me a total of £100 (£50 early termination charge, and a £50 increase in bills) more than my current tariff (Scottish Power fixed until 30 Nov '12)

What I'm trying to work out is whether or not I should switch anyway, to lock in the prices before everyone hikes their prices.

I'd be interested to hear the logic any others in the same position as me are applying as to whether to switch or not...

The standard Scottish Power tariff I would switch to automatically in December would cost £110 more per year than the EDF tariff, though as Scottish Power have yet to announce price rises, I suspect this could rise by a further 9% too. As this would be a standard tariff however I suppose at this point I could switch to a fixed deal - though not knowing what fixed prices in the future will be makes the whole process even more complicated to try to make like for like comparisons!)

Can anyone offer any advice?

undaunted

To me you're looking at this in a peculiar fashion - ie

What Scottish Power are or may be charging in December is irrelevant - as you can change to whoever suits without penaltyu as of 30/11.

The question is therefore surely if you swap now do you believe you will save more than £100 by doing so?

If yes swap if no don't.

If you think you don't know then I can only suggest you "guestimate". What would the 9% rise you apparently expect do to your existing consumption & tarrif / those you expect to be available in December?

I don't know what your figures are but my own INSTINCT would be that at a £100 cost for switching two months early I'd stick where I was & then switch in December