Scottish Power fixed price to 2011

DJBenson

Just done my calculations as follows (Currently duel-fule customer on Online Energy Saver 4 in Norweb area):



Not sure if my percentage calculations are right, but the differences between the OES4 unit cost and the fixed rate cost is negligable IF the threatened price increases happen. Having signed up, I can only sit and watch now, if I've made a mistake, I can still switch, but I think I'll ride this one out.

EliTom

plzhelpmesave! wrote: »

another question heere? anyone else on EDF Online V3. called them up last week to see if they do any fixed prices (they dont at the moment apparently!), but the guy said i was on the lowest rate so cheaper for me to stay on that at the moment.

We've been with edf for about 3 years, and they are brilliant! MY bills haven;t really gone up much switched to DD about a year ago £32 a month - this hasn;t changed at all. Just wondering whether to go for the fixed SP deal -i really like the idea of fixing rates on everthing so you kind of know where you are!
anyone else changed from edf?

Yes on EDF online V1 and called EDF yesterday to see if they had any fixed price offers - No.

By my calcs I use about 5000 kwh electricity and 14000 kwh gas, and the SP fixed till Feb 2011 deal would cost me £62 more in the first year (I am in the West Midlands), but this can be offset by £75 from quidco.

So went for it yesterday - £75 tracked within the hour on Quidco, so hopefully it all works out. It will only need one price increase for us to be ahead, and I am sure that will come soon. If prices do fall dramatically, I will just ditch and switch as there is not tie in with SP.

rawy

DJBenson wrote: »

Just done my calculations as follows (Currently duel-fule customer on Online Energy Saver 4 in Norweb area):



Not sure if my percentage calculations are right, but the differences between the OES4 unit cost and the fixed rate cost is negligable IF the threatened price increases happen. Having signed up, I can only sit and watch now, if I've made a mistake, I can still switch, but I think I'll ride this one out.

Have you taken into consideration the 20% discount for being on Online Energy Saver with EON ?

As if not, that could be where the 40% figures are coming in. This is what I worked out:

Elec
T1 17.934 Old - 20% Disc = 13.347 -- EON Energy Saver Online 5
T1 16.110 New (- £10.80 Dual Fuel Disc off total bill ??) --- SP Fix Online 2011
T2 9.9015 Old - 20% Disc = 7.921 -- EON
T2 8.836 New (- £10.80 Dual Fuel Disc off total bill ??) --- SP Fix Online 2011

Gas
T1 3.23505 Old - 20% Disc = 2.58804 -- EON
T1 4.311 New (-£5.25 Discount off total bill?? --- SP
T2 2.57355 Old - 20% Disx = 2.05884 -- EON
T2 2.910 New (-£5.25 Discount off total bill?? --- SP

So the way I work it out you need to compare the figures in bold. I can't work out how to add a £ discount to a per unit rate.

But if you workout your whole bill using the above rates & then take off the discounts you should get a clearer idea. Plus bear in mind the £62 from Quidco for Switching.

I hope this makes some sense & helps someone.

Cheers

Rawy

DJBenson

rawy wrote: »

Have you taken into consideration the 20% discount for being on Online Energy Saver with EON ?

As if not, that could be where the 40% figures are coming in. This is what I worked out:

Elec
T1 17.934 Old - 20% Disc = 13.347 -- EON Energy Saver Online 5
T1 16.110 New (- £10.80 Dual Fuel Disc off total bill ??) --- SP Fix Online 2011
T2 9.9015 Old - 20% Disc = 7.921 -- EON
T2 8.836 New (- £10.80 Dual Fuel Disc off total bill ??) --- SP Fix Online 2011

Gas
T1 3.23505 Old - 20% Disc = 2.58804 -- EON
T1 4.311 New (-£5.25 Discount off total bill?? --- SP
T2 2.57355 Old - 20% Disx = 2.05884 -- EON
T2 2.910 New (-£5.25 Discount off total bill?? --- SP

So the way I work it out you need to compare the figures in bold. I can't work out how to add a £ discount to a per unit rate.

But if you workout your whole bill using the above rates & then take off the discounts you should get a clearer idea. Plus bear in mind the £62 from Quidco for Switching.

I hope this makes some sense & helps someone.

Cheers

Rawy

I am already a Scottish Power customer. I'm currently on Online Energy Saver 4 (or whatever it's called) and have switched to the fixed price.

rawy

DJBenson wrote: »

I am already a Scottish Power customer. I'm currently on Online Energy Saver 4 (or whatever it's called) and have switched to the fixed price.

Ah sorry, getting confused with all the different products with near-enough the same name!

Rawy

DGJsaver

Madjamjar wrote: »

I currently pay about £660 a year for dual fuel however going on to a capped price until 2011 puts the price im paying up to £725 a year.

I'd like the security of price capping till 2011 but i dont want to pay an extra £65 waiting for it to all go up.

How long do you think i could get away with waiting before changing?

It`s not price capping , it`s price FIXED

fbrj

Although, on the face of it, the increase in electricity prices per unit by taking the SP fixed price deal looks unattractive (approx 18%) it is important to look at the overall costs including gas if one is looking at dual fuel. [You can either do dual fuel or electricity by itself but not gas alone]

The unit price for gas remains the same (2.638p/KWh pre VAT) when comparing Online Saver Energy Saver 4 (Supply Area 20 for me) and the Fixed Price deal.

In our case, approx 70% of our annual energy costs relate to gas, and taking this into account the overall increase (including the additional £36 per annum) in taking the Fixed Price tarriff is 6.4%. The real attraction for me therefore is to be able to lock into the fixed gas prices until 2011.

I am switching from my existing SP Online Energy Saver 4 to the Fixed Price tarriff.

EliTom

DGJsaver wrote: »

It`s not price capping , it`s price FIXED

You are correct in pricipal that it is fixed, but in reality you can consider it as a capped deal because if prices start to fall significantly you can just ditch and switch as there are no tie ins.

BexTech

EliTom wrote: »

You are correct in pricipal that it is fixed, but in reality you can consider it as a capped deal because if prices start to fall significantly you can just ditch and switch as there are no tie ins.

Yeah, said the same thing to a couple of relatives yesterday.

DGJsaver

good point, cheers