Scottish Power fixed price to 2011

AdamBrunt

I am an existing Scottish Power customer (on their Online Energy - Standard (No Standing Charge) tariff) paying a total of £85 per month by Direct Debit.

Should I be able to switch to their 'fixed rate' and would it actually be worth it ? Or is it's worth only calculatable based on usage rather than cost ?

mountainchrisriver

AdamBrunt wrote: »

I am an existing Scottish Power customer (on their Online Energy - Standard (No Standing Charge) tariff) paying a total of £85 per month by Direct Debit.

Should I be able to switch to their 'fixed rate' and would it actually be worth it ? Or is it's worth only calculatable based on usage rather than cost ?

You should be able to switch online... although may find that the option is pulled at no notice with so many folk switching to it...

As to if its worth it only some maths will be able to help you make that decision... accurate figures will only be attainable through actual usage...

izzzzythedog

AdamBrunt wrote: »

I am an existing Scottish Power customer (on their Online Energy - Standard (No Standing Charge) tariff) paying a total of £85 per month by Direct Debit.

Should I be able to switch to their 'fixed rate' and would it actually be worth it ? Or is it's worth only calculatable based on usage rather than cost ?

the point in it all is oil is used to create elec and gas is on a never ending spiral of upward costs , this is simply scotish power doing an offer to get more bizz and having an offer avaliable before the fuel costs went through the roof , were all taking advantage of this and today is your last chance , fuel will be going up regardless and if it has a chance of increasing elec costs to the tune of 45% then you would be a fool not to jump at this chance , your ok as you can switch in minutes , transfers dont have to be honoured if they dont want to , if in doupt martins on radio 2 in half an hour

3 hrs left before the offer ends

mountainchrisriver

bazaoyaki wrote: »

thanks, I did a rough calculation and i ended up paying about 18+% if I switch now....not sure if I want to switch now which would mean I pay more for the next few months till end of Oct.

Yep that increase is a fair size... another way to look at it though is that you will not have any rises for the next (nearly) 3 years...

mountainchrisriver

simran wrote: »

what are the details of the tariff for sp fixed 2011? Is it better than npower fixed 2011?

I think the npower fix is more expensive...


There is a thread for npower fix... actually may be about their capped rate... oh well I will leave link up anyhow:

http://forums.moneysavingexpert.com/showthread.html?p=11301941

HTH

AdamBrunt

Ok. It looks like (for now at least I will be worse off).

Latest bill has:

Gas; 4210 @ 2.638 (kWh @ p), standing charge 91 days @ 11.63p
Electricity; 223 @ 14.029 (kWh @ p), 1199 @ 8.806

I am then comparing this to the prices given in http://www.scottishpower.co.uk/pricing_pdfs/Fixed_Price_Booklet.pdf [ for supply area code 20, no standing charge option ]

And I am getting very confused !!!

Also, do you go No Standing Charge or Standing Charge ?? I can never remember which way round it is as whether or not you should pay it or not.

mountainchrisriver

AdamBrunt wrote: »

Ok. It looks like (for now at least I will be worse off).

That is highly likely as you are a bound to be paying a premium for fixing...

As for whether it is worth it in the long run... if the percentage change over your current usage is not too bad and with the projected price increases of 15-45% over the coming winter then fixing may well be a good plan... if only we could do the same for petrol... :cool:


See Cardew's post for help with the maths:

http://forums.moneysavingexpert.com/showpost.html?p=11305391&postcount=189

AdamBrunt

mountainchrisriver wrote: »

That is highly likely as you are a bound to be paying a premium for fixing...

As for whether it is worth it in the long run... if the percentage change over your current usage is not too bad and with the projected price increases of 15-45% over the coming winter then fixing may well be a good plan

Ok according to my maths (and having a degree in it I should be OK) ...

Latest bill (prices inc vat): Gas £125.10, Electric £139.78
Latest bill (prices inc vat) if on Fixed Rate: Gas £132.23, Electric £148.15

A total increase of £ ( 280.38 - 264.88) = £15.50 or 5%

So, on the basis that prices could rise between 15-45% then it's possibly good move.

One other thing ... with these fixed rates, particular the SP "fixed to 02/11" one - what happens if the price for fuel goes down between now and then ? Are you tied in until Feb 2011 ?

shelly

AdamBrunt wrote: »

Also, do you go No Standing Charge or Standing Charge ?? I can never remember which way round it is as whether or not you should pay it or not.

I called Scottish Power yesterday to switch to the fixed price until 2011 and asked about standing charges. Apparently the prices/tariffs are the same whether you pay a standing charge or not so I went with not paying a sc. Not sure if that is region/area dependant so might be worth checking.

HTH

izzzzythedog

AdamBrunt wrote: »

One other thing ... with these fixed rates, particular the SP "fixed to 02/11" one - what happens if the price for fuel goes down between now and then ? Are you tied in until Feb 2011 ?

now your getting it , 2 1/2 yrs at 45% a year compound interest on your present 250 odd quid will be what ? a fortune

as for cancellation as i understand it i can cancel at any time , theres a period of 26/28 days before acctivation , 2 days notice needed in the event of moving home , accivation in approx the next 6 weeks , if fuel costs go down then i will run around birmingham town centre naked with a rubber chicken stuffed up where the sun doesnt shine shouting adamblunt is an unsong hero , this is fuel costs were talking about , care to name the last time it went down ? a barrel of oil costs what exactly ? record highs fella and down isnt an option