A Fixer's Word of Caution

Solstice

Hi Everyone

Just wanted to pass on a word of caution regarding energy fixing.

We're with EDF and on the back of all the bad news about hikes I decided to look into fixing. I was offered 2 types of tariff change - 1 fixed until March '15 and 1 until March '17.

On following the process through and looking very carefully at old bills and KWh charges, I saw before I pressed the button that the fix until March '17 included a whopping +3.5p per KWh over what we pay now - that's like a +23% price hike.

Perhaps everyone else is aware, but just in case it helps, please, please look at what you may end up paying per KWh rather than the estimated annual fee for your utilities before you sign up to the "good deal".

Best wishes to everyone.
Solstice

Pincher

Not that I'm arguing for a long fix, but if you took that attitude to E.On's FixOnline tariffs, five years ago, which came with 18% to 26% "online discount", you would have missed some cracking deals.

NPower is famous for applying their discounts at the end of the term, which would also distort the picture if you only look at the Tier 2 rate.

Nada666

Solstice wrote: »

On following the process through and looking very carefully at old bills and KWh charges, I saw before I pressed the button that the fix until March '17 included a whopping +3.5p per KWh over what we pay now - that's like a +23% price hike.

Perhaps everyone else is aware, but just in case it helps, please, please look at what you may end up paying per KWh rather than the estimated annual fee for your utilities before you sign up to the "good deal".

Yes, you should look at the breakdown - but the total annual fee is what you should concentrate on.Of course you have to make sure the annual figure is one that uses your typical annual usage (ignore their 'typical' low,medium,high user quotes.)

footyguy

Solstice wrote: »

Hi Everyone

Just wanted to pass on a word of caution regarding energy fixing.

We're with EDF and on the back of all the bad news about hikes I decided to look into fixing. I was offered 2 types of tariff change - 1 fixed until March '15 and 1 until March '17.

On following the process through and looking very carefully at old bills and KWh charges, I saw before I pressed the button that the fix until March '17 included a whopping +3.5p per KWh over what we pay now - that's like a +23% price hike.

Perhaps everyone else is aware, but just in case it helps, please, please look at what you may end up paying per KWh rather than the estimated annual fee for your utilities before you sign up to the "good deal".

Best wishes to everyone.
Solstice

Use a comparison site.

Not only will you see the prices from the whole of market, but you will see the difference in annual costs for your usage and can then decide if you are happy to pay a premium today for the surety of a fixed price perhaps for as long as 4 winters.

10% a year increase, year on year would amount to over a 45% increase after 4 years.

3.5p on maybe a 13p unit charge is only about 27% increase, and the unit charge is only a proportion that makes up the total annual cost of the bill.