EDF Fixed 2016 Rate

moredeadthanalive

I would like to ask the panel of their opinion of gas and electricity price rises over the next 3 years. The EDF fixed til 2016 will be better than their standard rate if prices increase about 27% over 3 years (on my usage). And their Fixed 2014 is £100 better for a year, but then prices may negate the savings after the fixed rate ends and I have to renew.

Does anyone have any links to forecasting sites on the longer term future of utility prices?

What do you think prices will do over the next few years?

TIA

ic

Prices will go only one way - up. More and more obligations are being placed on the utility companies to invest in renewable sources, more countries around the world are after gas. Shale gas might be coming, but not for a while yet and I'm sure they won't be selling it for less than its worth - why would you if you can control availability and could export it for a higher price?

As for comparing 27% vs a £100 saving, that's a bit difficult - 27% of what?

At the end of the day, nobody has a crystal ball, and nobody really knows.

moredeadthanalive

Sorry,

I estimate that my bill on standard rate will be £1127 and fixed 2016 be £1229 so that is where the £100 difference is from. I guessed that the difference is about 9% and I tripled it.

I am sure that prices will go up but will they go up by more than 9% each year from now on?

Crystal ball gazing I know but the wisdom of the crowd can do marvellous things!

wakeupalarm

Try googling the following recent headlines to give you an ideal of where prices will be in the future

Energy bills could double to £3,000 per year

Energy bill rises will outpace inflation next year, forecasters warn

Energy Agency Predicts High Prices in Future

UK electricity prices almost twice as expensive as Germany within three years

sbradnam

Assuming that the only way is up for energy prices, I have switched to the 2016 deal, very conscious of the short-term higher cost....what it has done tho, (because the electricity unit price difference is the most painful at the mo on the 2016 freeze deal) is forced us to heavily review our electricity usage in the house and be even more efficient!

Some small crumb of consolation!

paul101paul

Would you rate the EDF deal better than nPower ?

DragonQ

sbradnam wrote: »

Assuming that the only way is up for energy prices, I have switched to the 2016 deal, very conscious of the short-term higher cost....what it has done tho, (because the electricity unit price difference is the most painful at the mo on the 2016 freeze deal) is forced us to heavily review our electricity usage in the house and be even more efficient!

Some small crumb of consolation!

Heh, sounds like it'd be bad for me then. I am very concious of energy use but still have high electricity bills due to my high-end AV equipment and home server (£25pm living by myself, rising to £29pm at current prices).

I'd prefer high gas prices than high electricity prices because I don't mind wearing a jumper.

NittyGritty

my current rates on scottish power (energy online 20) is first 225 per quarter is 20p, then just over 10p for day and 5.4p for night rate,

if I were to switch to either edf or npowers 2015 or 16 tariff a standing charge per day forgot what it is now, and its 18p day and 5.7p night, big jump in day rates which kind of puts me off somewhat,
yes I know this winter is going to rise, but by how much , even if it does go up for next 3 years would it be cheaper ? I currently pay around £1100 isha year in electric, for me to jump over to the fixed tariff it costs around £200 more EACH year,so basically 500-600 I would need to save over the 3 years for the fixed rate to pay off going by the comparison sites unless I worked it out wrongly