Fixed price until 2017 will cost £64pm extra!

webtrans

I have just checked with NPower as recommended by Martins Money Tips, to see how much it would cost me to fix my energy prices until 2017. This was the cheapest fix over the longest period that Martin could find.

Blimey! they want me to pay £214 per month.... That's £64 per month more than I'm paying now.
Forgive me Martin, but the energy companies would have to raise their prices by about 16% per annum each year over the next 4 years before I broke even on this deal.

Not such a smart move after all

Nada666

£768 per year difference is highly unlikely. (£2 or £300, possible).

Read your meters today, read your most recent bills, and prepare for a big bump in your direct debit payment once the inevitable catch-up bill eventually arrives.

nickcc

My switch to NPower for the 4 Winter switch was app 15% more than with BG, this has now dropped to 5% after the recent price increase.

Gambler

Nada666 wrote: »

£768 per year difference is highly unlikely. (£2 or £300, possible).

Read your meters today, read your most recent bills, and prepare for a big bump in your direct debit payment once the inevitable catch-up bill eventually arrives.

£600 per year for me.

Nada666

Gambler wrote: »

£600 per year for me.

What sort of usage carries that premium?

Gambler

Nada666 wrote: »

What sort of usage carries that premium?

28k Gas 6k Elec

If I move to Npower fix Apr-15 It will be an extra £240 per year. £600 just seems too big a jump to me.

Even if prices increase 10% per year I have calculated that I'd be paying a similar amount over the total 4 year period.

welshee

Gambler wrote: »

28k Gas 6k Elec

If I move to Npower fix Apr-15 It will be an extra £240 per year. £600 just seems too big a jump to me.

Even if prices increase 10% per year I have calculated that I'd be paying a similar amount over the total 4 year period.

28k seems a hellish amount for gas.
i am a average user and i only use 11k...but extremely well insulated.

I must be in the warmer part of wales..lol

2010

Gambler wrote: »

28k Gas 6k Elec

Are you a nudist or do you live in a castle?

[Deleted User]

I heard Martin on radio 5 pointing people towards Npowers 4 year fix, I think he even mentioned the words "its a no brainer " but he was targeting people on "standard " tariff. when I looked at the tariffs I would fix to if I went on it, it was over 16p per kwhr ! for my electric as I had just come off a rate of 9.5 p kwhr this was a shocker so settled for a one year fix at 11.5kwh with npower.. with Labour promising a 20 month price freeze when they get in it seemed like bad advice

teddysmum

I have gone for a one year deal, as that works out cheaper.

This site recommended fixing, a couple of years ago, as prices were sure to rise, but ,in fact, they dropped. If there is a U turn on Green taxes this may (hopefully) happen again.

Gambler

I went for the Npower fix till Apr-15.

The real surprise to me when looking at the detail is that I took out my current fix just over a year ago and the increases I will now be paying are gas 7% but electricity a whopping 33% :eek: