Should I switch or stay???

garethw08

I have just moved into a new property. Elec and oil.

Elec with SSE.

Used the cheap energy club on this site and found out I could save around £80/yr if I switched.

Not sure whether to fix for a year with isupply energy unit rate 12.40p/kwh standing charge 19.00p per day, or go with EDF which is fix until 31/7/17 at a unit rate of 16.296p/kwh standing charge 18.9p per day.

I know it's the million dollar question when I ask how much energy prices are likely to rise over the next couple of years but do you think it will be more that the 16.296p/kwh unit rate that EDF are offering. I'm guessing the standing charge will also go up right?

Any help thanks

datlex

I personally would switch away from SSE regardless. My personal experience of them is they don't listen and provide poor customer service.

matelodave

By my reckoning electricity would have to go up by 25% in 2015 and another 25% in 2016 to make the EDF three year deal look worth it. Do you feel like gambling that it will?

garethw08

matelodave wrote: »

By my reckoning electricity would have to go up by 25% in 2015 and another 25% in 2016 to make the EDF three year deal look worth it. Do you feel like gambling that it will?

Hmmm maybe not. So you think just fixing for one year is the way to go?

matelodave

I personally don't think it will go up as much as that, 10-15% is my estimate.
I've got a 15 month deal with FU at 11.053p. but the daily charge is 20p. I use 8000-8500kwh a year so I'm better off with a lower unit rate. Actually FU have an even cheaper deal at the moment so it would pay me to change again even though there's a £30 early termination fee on my present contract.