We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Am I mad NOT going for a fixed rate?

Options
2

Comments

  • molerat
    molerat Posts: 34,529 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Does "£150 per month" bear any relationship to your actual kWh use per year ? Unlikely :o
    In answer to the headline, YES :p
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    I do agree in someways, as when you agree to a fixed tariff you are paying a higher rate for longer
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • molerat
    molerat Posts: 34,529 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 26 October 2013 at 11:13AM
    I very much doubt that the op would be paying a more on a fix than he is now or will be very shortly on a standard tariff. If I was on EDF standard plan I would save £131 per year moving to an Apr 15 fix.
  • techspec
    techspec Posts: 4,464 Forumite
    I prefer fixing for a year and the getting lots of lovely cashback for switching again :D
  • techspec
    techspec Posts: 4,464 Forumite
    edited 26 October 2013 at 11:42AM
    chanz4 wrote: »
    I do agree in someways, as when you agree to a fixed tariff you are paying a higher rate for longer

    Not true if you switching.

    Ive just switched and saved £200 per year AND fixed for a year. My previous deal has just ended and i had moved to standard.

    If i had switched to the 2017 one - i would still have saved £40 per eay on my current tariff. But with possible government intervention before an election AND £100 possible cashback per year - i preferrred the shorter one.

    Also went for EDF instead of cheapest - as no exit fees.

    Have you run your figures through energy club or uswitch? Id be very surprised if First Utility can't save you money.
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    techspec wrote: »
    Not true if you switching.

    Ive just switched and saved £200 per year AND fixed for a year. My previous deal has just ended and i had moved to standard.

    If i had switched to the 2017 one - i would still have saved £40 per eay on my current tariff. But with possible government intervention before an election AND £100 possible cashback per year - i preferrred the shorter one.

    Also went for EDF instead of cheapest - as no exit fees.

    Have you run your figures through energy club or uswitch? Id be very surprised if First Utility can't save you money.

    Fixed are in general a higher rate
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • keith1950
    keith1950 Posts: 2,597 Forumite
    1,000 Posts Combo Breaker
    I prefer fixing for a year and the getting lots of lovely cashback for switching again :D
    Fixed are in general a higher rate

    I too prefer shorter fixes and offers of cashback.

    I worked out that using my current tarrif and adding 10% per year and weighing it against a fix that is over the 4 years I would be £400 better off over the 4 years with shorter fixes, without even taking into account the cashbacks on offer.

    I realise that it is a gamble but for me the definite cost of fixing is too much of a gamble........especially if Ed Silliband gets in !!
  • molerat
    molerat Posts: 34,529 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chanz4 wrote: »
    Fixed are in general a higher rate
    molerat wrote: »
    If I was on EDF standard plan I would save £131 per year moving to an Apr 15 fix.
    ?????????????????????????
  • DragonQ
    DragonQ Posts: 2,198 Forumite
    Part of the Furniture 1,000 Posts
    Yes, fixes can sometimes be cheaper than standard tariffs. Always have been for me.
  • adandem
    adandem Posts: 3,592 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 27 October 2013 at 10:45PM
    I pay £115 for duel fuel fixed and that was with a 60% efficient boiler. Just had boiler changed so hoping for a reduction. We have a 4 bed detached house. Personally, I think you should fix.;)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.