Don't understand MSE advice

AdamAnd

According to MSE :money:"Do a normal comparison now and your cheapest will likely be one that hasn't yet announced hikes, but will soon. So you could be shifting out of the frying pan into the fire."

Okay so the Cheap Energy Club has listed EDF's Blue+Price Promise tariff fixed until March 2015 as the cheapest switch.

But, correct me if I'm wrong, EDF have not announced their hikes yet so according to the MSE statement - if I switch I could be hit with price hikes. Is that right? Or because it is "fixed" I won't be hit with any hikes EDF choose to make later on in the month/year?

I don't understand, if anyone can clarify please, many thanks.

gardner1

AdamAnd wrote: »

According to MSE :money:"Do a normal comparison now and your cheapest will likely be one that hasn't yet announced hikes, but will soon. So you could be shifting out of the frying pan into the fire."

Okay so the Cheap Energy Club has listed EDF's Blue+Price Promise tariff fixed until March 2015 as the cheapest switch.

But, correct me if I'm wrong, EDF have not announced their hikes yet so according to the MSE statement - if I switch I could be hit with price hikes. Is that right? Or because it is "fixed" I won't be hit with any hikes EDF choose to make later on in the month/year?

I don't understand, if anyone can clarify please, many thanks.

what do you think FIXED 2015 means

AdamAnd

I think it means fixed until 2015 obviously, but read the advice MSE has given "Do a normal comparison now and your cheapest will likely be one that hasn't yet announced hikes, but will soon. So you could be shifting out of the frying pan into the fire."

Why is he saying "you could be shifting out of the frying pan into the fire"? If you switch and indeed it is fixed then why would you have anything to be worried about, that is my question gardner1.

gardner1

!!!!!!" FIXED 2015" is fixed till 2015 it will not go up if you switch now
if you want a standard tariff and change to EDF it will go up when they raise prices

savetilibleed

AdamAnd wrote: »

But, correct me if I'm wrong, EDF have not announced their hikes yet so according to the MSE statement - if I switch I could be hit with price hikes. Is that right? Or because it is "fixed" I won't be hit with any hikes EDF choose to make later on in the month/year?

If you fix now with EDF BPP March 2015, your bills will be FIXED at that tariff rates until March 2015 whatever the general EDF rises are. Use http://www.moneysavingexpert.com/cheapenergyclub, enter your current tariff details, with your actual consumption, and you will see what the various tariffs as they are now and how much more or less they will cost.
For example I'm on EDF BPP April 2014, so its the cheapest now until then. But as EDF have not yet stated their rises, any change away from it (in EDF) will cost more, now but another fix now will provide surety and some predictability of bills for the fix period even if rates rise again before the end of the fix. Difficult decision for me. Do I get another cheap winter from it by sticking, or do a fix now for surely way past whatever EDFs increase will be.

richardw

Has anybody successfully switched to that tariff by telephone ?

admania

AdamAnd wrote: »

According to MSE :money:"Do a normal comparison now and your cheapest will likely be one that hasn't yet announced hikes, but will soon. So you could be shifting out of the frying pan into the fire."

Okay so the Cheap Energy Club has listed EDF's Blue+Price Promise tariff fixed until March 2015 as the cheapest switch.

But, correct me if I'm wrong, EDF have not announced their hikes yet so according to the MSE statement - if I switch I could be hit with price hikes. Is that right? Or because it is "fixed" I won't be hit with any hikes EDF choose to make later on in the month/year?

I don't understand, if anyone can clarify please, many thanks.

Hi OP

I think Martin Lewis was getting a bit over excited. The logical thing to do would be to switch to a supplier that hasn't put up their rates and fix, switch and fix, or just fix if your current supplier has a good fixed rate. Martin didn't make it clear with his "out of the frying pan" speech, that would only apply from variable to variable. I understand your thoughts.

closed

"Try to compare & switch right now and your cheapest will likely be a firm that's yet to announce hikes, but will soon. So you could be shifting out of the frying pan into the fire. Focusing on cheap fixes stops that happening."

http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

Dan-Dan

Obviously , if you switch now to a fixed tariff , you`ll pay for the `peace of mind` with an increased tariff (until your current supplier up`s prices, if they havent already) that will take a year or so for you to realise the benefits of

DragonQ

Dan-Dan wrote: »

Obviously , if you switch now to a fixed tariff , you`ll pay for the `peace of mind` with an increased tariff (until your current supplier up`s prices, if they havent already) that will take a year or so for you to realise the benefits of

Not "obviously", since this isn't always the case. Please read the thread before replying.

Dan-Dan

DragonQ wrote: »

Not "obviously", since this isn't always the case. Please read the thread before replying.

In that case , the op wouldnt switch....

try reading my reply properly brains