Scottish Power fixed price to 2011

stewartmh23

I am current on Capped Price dual energy offer which is due to finish 3oth April and they have offered a fixed price to 2011 but with extra cost of £1.50 per month on each. Does anyone have any thoughts on whether it is good value, please?
Thanks!

glasgow_DFW

what is you annual usage in kwh for gas and elec, what mpan are you in? It will cost your more at first but if there are more price increses you could be quides in. geve me the above and I will be able to tell you your annual costs (well as near as damit)

stewartmh23

glasgow_DFW wrote: »

what is you annual usage in kwh for gas and elec, what mpan are you in? It will cost your more at first but if there are more price increses you could be quides in. geve me the above and I will be able to tell you your annual costs (well as near as damit)

Thanks! Gas usage is roughly 4800 and Elec is 18340 per annum.

glasgow_DFW

Hello I have calcualted the usage for the MPAN areas, to find you MPAN it is the first two numbers in the group of box's on the front of you bill. for the table below I have made some assumptions.

1 that you would be on the standing charge.Based on your usage the there would be very little diffrence (pennys up or down)
2 That the gas and electrlcty is the other way around as that amount of electrclty usaed would be very high espesialy in a home with a gas supply, I could see it at a push for an all elec house.
3 The it is a singel rate meter in the property, again as there is gas in the property (running the CH?) there would be no ponit in having a two rate elec meter unles you are nocternal.
4 This is all including VAT @ 5% please take any discounts you receve off the total and then devide by 12. The totlat discounts from SP are around £26 (inc VAT) so will not change the avarge dd that much

mpan totatl gas total elec total avg monthly dd
10 £567.07 £514.07 £1,081.14 £90.10

11 £562.65 £525.29 £1,087.94 £90.66

12 £540.56 £514.53 £1,055.09 £87.92

13 £534.57 £587.24 £1,121.81 £93.48

14 £572.16 £513.80 £1,085.96 £90.50

15 £597.96 £494.72 £1,092.68 £91.06

16 £597.72 £489.58 £1,087.30 £90.61

17 £529.39 £583.74 £1,113.13 £92.76

18 £534.40 £590.82 £1,125.22 £93.77

19 £558.86 £507.51 £1,066.37 £88.86

20 £570.53 £511.16 £1,081.69 £90.14

21 £549.59 £567.41 £1,117.00 £93.08

22 £564.06 £530.91 £1,094.97 £91.25

23 £595.01 £485.00 £1,080.01 £90.00

stewartmh23

Thanks. You are right about the figures being the wrong way round -a bit early to do these things on a Saturday morning! I think I shall probably go for the deal as curently prices of everything seem to be going up and it would make sense to keep prices capped. I see from other threads that you can still get out of the SP offer during that time if it goes down.

mightyimp76

the scottish power is a 'fixed' price so you will pay this price on day 1, unlike the 'capped' rate this is the maximum cost the gas and electric will be.

i have the same offer, and don't think i will be taking this out !

johnbfan

We've had the same message and I am wondering if its worth it.

We are owed over £200 by them. We pay £74.00 by DD a month and do the account online so not sure if its worth it for us. I know its only £1.50 a month but would we

waterstar

I'm also with Scottish Power and looking at "Fixed price to 2011" offer.

As I see it, and please correct me if I am wrong:

1) Prices on "Fixed to 2011" are the same as on "Online Energy Saver 4" when I take the fact that the "initial higher price units on "Online Energy Saver 4" are just an alternative way of recovering the daily standing charge in the "Fixed to 2011" tariff. (I'm in the Seeboard area if it is relevant for tariff comparison)

2) The only additional charge is £3.00 per month, equivalent to £36 per year.

3) My annual bill is approximately £1,100, so if prices go up by over 3.3% on the "Online Energy Saver 4" tariff I would be getting a benefit on the "Fixed to 2011" tariff, subject to the monthly £3's I have paid until there is such an increase.

4) I am not locked into the "Fixed to 2011" tariff, I could leave at any time, including if prices rose for example in 2008-09 and fell in 2010.

So, if I have understood the tariff and the T&C correctly, for me the question comes down to whether I think gas and electricity prices will go up by more than 3.3%, particularly during the next 12 months.

Plushchris

The Scottish power fixed price tariff is probably the best value fixed price deal on the market at the moment, there are some cheaper fixed/capped price deals on the market but they arent fixed for anywhere near as long (with the exception of Npower but thats expensive)

As waterstart said, if prices go up by 3-5% in the next 12 months (and lets face it, they probably will) then you'll be on a winner with SPs fixed price deal

utilitybroker

Martin MSE recommends that you change to fixed price tariffs in this weeks newsletter. http://www.moneysavingexpert.com/tips/30-04-2008/

Up to £72 cashback on Scottish Power is available if you sign up via http://www.cashbackkings.com

Trembling_Turnip

Does anyone have any thoughts on whether it's better to take the 'no standing charge' rate or not?

SP's comparison table says I will save 4p on the Fixed Price NSC tariff but if prices are about to rise a lot then would I better taking the standing charge and the lower unit prices??



I'm confuzzled.