first:Utility offer - what to do?

jaybeetoo

I am currently on the first:Utility iSave Fixed v4 March 2014.

I have just received an email offering me a move to the Fixed January 2016 or Fixed July 2015 from 1 January 2014. They tell me these deals may not be available if I wait until my current deal ends in March.

What to do? Crystal ball anyone?

KTF

Whats your annual usage in Kw?

Put them in to a comparison site and compare your current annual cost with the ones on the fixed deal they are now offering and then see if its worth switching.

jaybeetoo

Thanks for replying but I think you missed the point of the post.

KTF

Your point being what, do you switch tariff or not? The only way to work that out is to see what costs are involved.

If your new one is going to cost you £50 a month more then no point switching. If its only a little bit more then maybe it is if you feel that prices will continue to go upwards.

Also think about why they are so keen to lock you in now in this 'special' offer rather than let you check the rest of the market when your current deal expires. Does it also have penalties for leaving early.

macman

We've just had big increases from the Big Six, so it's likely that prices will now be stable through the winter.
As above, how can we advise you if we don't know the extra annual costs of switching to each longer FU fix now. Two minutes on a comp site will tell you.What matters is not how long the fix is, but at what price. But my guess is that you will be paying a hefty premium-and right through the winter if you switch now.
If you want the security of a longer fix now, then fine-but you'll pay a premium for the insurance.
Finally, any company selling energy on the lines of 'these fantastic offers won't be around for very long!' is not to be trusted. That's the kind of pitch you'd expect from a double glazing salesman.