Energy: Find the cheapest supplier & earn cashback

malaya

Hi,
With all the recent media coverage highlighting impending rises in gas & electricity for this winter, is now a good time to switch to a capped rate? Or, would it be better to wait a month or so?
I ask, as for me a capped rate is currently more expensive than the rate I am on, but I guess with the expected rises this will change!
Thanks

watchingthepennies_2

I'm just looking at capped deal with current supplier Eon versus what I'm on now. I've rung them twice and each time i am discouraged to switch, saying it would increase bill significantly. Am I being cynical or does anyone else think the staff are being told not to encouraging switching?

Really unsure what to do....I'm on an online tariff at the moment and get extra discounts for online and dual fuel.

Which companies are cheapest/most popular for dual fuel capped/fixed tariffs?

Any advice gratefully received. Thanks

peter999

To cap or not to cap, that is the question ?? :rotfl:

peter999

SilverBandit

peter999 wrote: »

To cap or not to cap, that is the question ?? :rotfl:

Exactly my dilemma. I'm on E-on's "Energy Online Extra Saver 5" and I'm trying to decide whether to move to their "Energy Saver v2". Obviously that will cost more initially, but if we really do get 40% rises this winter then it should be cheaper in the long-term.

peter999

SilverBandit wrote: »

Exactly my dilemma. I'm on E-on's "Energy Online Extra Saver 5" and I'm trying to decide whether to move to their "Energy Saver v2". Obviously that will cost more initially, but if we really do get 40% rises this winter then it should be cheaper in the long-term.

The question is how long are deals capped for ??

I think these Capped Tariffs may be turning into a con like insurance people never use.

The way I see it, you cap your tariff for, paying slightly higher premium for a reasonable period (2+ years) insuring against price rises.

You benefit when the standard rates increase past the capped rate you are paying.

So hopefully you then pay a lower rate than the increased standard rates for a reasonable period (1+ year).

I checked with EON, they are offering a 2009 Capped Offer, capped till October 2009.

I cannot see it worth capping for such a short period of 1.5 years (June 08-Oct 09).

You will only get real benefit if the standard rates make a big jump past the capped rate very soon or by end of year and you get benefit for maybe 6-12 months to Oct 09.


Although this is now in the news:

Big energy price increases likely
http://news.bbc.co.uk/1/hi/business/7469848.stm

Big increases in gas and electricity bills are likely this year, leading energy suppliers have confirmed.

Bosses of the big six energy firms have been answering questions about prices from MPs on the parliamentary business and enterprise select committee.

Sam Laidlaw, the chief executive of Centrica, which trades as British Gas, said it was "clear that gas prices are going to have to move up".

So maybe I have justified to myself why I should cap.

peter999

INSPIRED

I did a comparison tonight on Energyhelpline and moneysupermarket and only British Gas is cheaper than current supplier (E.ON) by 10%.

However, should I be capping instead with E.ON Energy Saver v2? It will cost 12% per annum more but if the prices are all going to go through the roof this winter maybe it will be worth it. Maybe the free monitor will mae the whole family more aware of what they are using!

I do not now what to do and imagine that there a lot of folk out there in the same position.

I-LOV-MONEY

INSPIRED wrote: »

Maybe the free monitor will mae the whole family more aware of what they are using!

Just a warning. The "free energy monitor" is free provided you stay with E-on for a year. If you switch within this time, they make a charge of £40 (I think).

Surely it is common sense to know that if you leave a room to switch off the light, don't leave pots on the stove bubbling over, keep the heating thermostat to a comfortable level, use the washing machine at 30/40 degrees rather than 50/60 where possible, don't leave the telly on standby etc. Why do you need an energy monitor ?!

INSPIRED

I-LOV-MONEY wrote: »

Just a warning. The "free energy monitor" is free provided you stay with E-on for a year. If you switch within this time, they make a charge of £40 (I think).

Surely it is common sense to know that if you leave a room to switch off the light, don't leave pots on the stove bubbling over, keep the heating thermostat to a comfortable level, use the washing machine at 30/40 degrees rather than 50/60 where possible, don't leave the telly on standby etc. Why do you need an energy monitor ?!

Yes, everything you mention is commen sense but in a full and busy household a novel and visible display (rather than constant nagging) might remind others about switching off the printer, speakers, the video, DVD, stereo, unplugging chargers etc.

harryhound

Something funny happens to teenage brains.
Common sense and logical thought that appears to be developing at age 10 - 12, then regresses for about 8 years (if you are lucky).

[Unplugging the various gizmos of a sleeping teenager "in case they are struck by lightening" should get the message across, 'cos they will complain they have been abused when next turned on (That is the machine and the teenager).:D]

The_Juggler

Hi All,

This is my first post....... I switched to Eon's - Energy Online Extrasaver Standing Charge 5 plan in February with a 'promise' of capped 'til at least 1 April 2009 and they've just written to me with a price rise!

I'm horrified - but having checked the smallprint they can do this!:mad:

Moneysavers beware!

I'm off to start the research and begin the juggling again!

Happy days!