Help me decide please - EDF 2015 or EDF 2017

tillycat123

I need a second opinion please before going ahead and switching.

I'm with SSE for gas and BG for electricity at the moment and want to switch. Total spend for both £1526 per year. Gas mainly the culprit! If I switch to duel fuel with EDF I get -

EDF blue fixed till 2015 - showing as a saving of £204 per year based on last years KW's used.

EDF price freeze 2017 - still a saving on current spend but £14 per year.

So do I go for the 2015 tariff and make a saving on what I pay now.

Or pay pretty much what I pay now and freeze till 2017?

Many thanks for opinions!

Biscuit_Tin

tillycat123 wrote: »

I need a second opinion please before going ahead and switching.

I'm with SSE for gas and BG for electricity at the moment and want to switch. Total spend for both £1526 per year. Gas mainly the culprit! If I switch to duel fuel with EDF I get -

EDF blue fixed till 2015 - showing as a saving of £204 per year based on last years KW's used.

EDF price freeze 2017 - still a saving on current spend but £14 per year.

So do I go for the 2015 tariff and make a saving on what I pay now.

Or pay pretty much what I pay now and freeze till 2017?

Many thanks for opinions!

So you'll be paying £190 per year more in 2014 if you opt for the 2017 deal

and you'll be paying £190 per year more in 2015 (pro rata) if you opt for the 2017 deal.

Even if prices rise by 10% next year, that still won't cover the £190 extra per year you are spending.

If they go up another 10% the followng year, you would be better off on the 2017 deal (after the 2015 deal expires), but you'd have already paid probably £350 more than you would on the 2015 deal.

and the 2017 deal ends in March 2017 doesn't it? So you'll only have about 15 months to recover that money you'e already spent.

So unless you think prices are likely to rise by way over 10% a year, then you might want to choose the 2015 deal

But if you want surety of price until 2017, irrespective of the cost, then choose the 2017 deal.

DragonQ

It is strange how some people think that if prices rise to above the rate of the 2017 fix by 2017 they'll have "won", ignoring the fact that they've been paying more than variable rates for years already.

This is why kids do maths at school!

buggu

Was considering the same thing myself. Agree its not worth being on the long term deal if the price rises are going to be around 10%.

Just a suggestion but you might want to consider npower fixed tariff for gas if you use alot more gas, cheaper unit price.