Fix till 2015 or 2017?

Rich99

I'm just coming off EDF's Blue 2014 (April) deal. Doing the various calculators on the MSE website, both of EDF's new Blue deals are pretty decent. I can save ~£100/year if I fix till 2015, compared to fixing till 2017. I like long term stability, so I'm tempted with the 2017 fix. Any thoughts on whether that's a bad thing? I don't see prices going anywhere but up, and the £100 difference is about 10% of my bill. So are prices likely to go up by ~10% over the next 3 years or not?!

Bluebirdman_of_Alcathays

Rich99 wrote: »

I'm just coming off EDF's Blue 2014 (April) deal. Doing the various calculators on the MSE website, both of EDF's new Blue deals are pretty decent. I can save ~£100/year if I fix till 2015, compared to fixing till 2017. I like long term stability, so I'm tempted with the 2017 fix. Any thoughts on whether that's a bad thing? I don't see prices going anywhere but up, and the £100 difference is about 10% of my bill. So are prices likely to go up by ~10% over the next 3 years or not?!

You've said yourself you don't see prices going anywhere but up, so surely that would point to the 2017 fix?

Just to play devils advocate, prices have gone down twice in the last 26 months, so it does happen. There is also a general election looming, and the energy industry is a convenient political football, which could have an effect. Finally, we've had an exceptionally mild winter and wholesale gas prices have slumped.

You'll just have to go with your hunch. If there were one obvious answer, I doubt you'd be asking the question!

melbury

I signed up for the EDF 2017 fix the other day.

I think they are being totally fair in that there are no exit fees and so if a better deal comes along you can move, and of course if prices keep going up, you know exactly what you will be paying for three years.

Rich99

Cheers for the thoughts, I'll stick with my 2017 hunch. Just wondered if anyone had any good reasons I hadn't thought of not to!