Should I Cap If It Costs 30% More?

Yorkshireshrek

I recently switched to the Eon Energy Online Extra Saver Standing Charge 5 tariff on dual fuel and I am now thinking of switching to Scottish Power to get one of their competitive capped rates to avoid the expected fuel rises. The problem is I have done all of the calculations on KWh etc and double checked with the various switching sites and it will cost me 30% more to switch to the cheapest cap with Scottish Power. I currently pay £823 a year with Eon which would rise if I switched to £1063 a year (£20 a month more). Bearing in mind that Scottish Power is capped until 2011 is it worth it??

Bismarck

I really don't know...having a Mavis moment myself.....is it true what the press has been saying or are they just trying to sell papers...

Woby_Tide

in exactly the same boat, I'm on their pricefall tarrif still until november, a 30% hike seems too much personally, I'd say there is still a fair amount of leeway till you are 'better off' in the long term. Who knows what other capped/fix rates may appear in the next couple of years that rival or better it

John_3:16

Just a thought by the end of October time you will have to change to something. What price you will be given then may well be 20% more than you are paying know? That means only another 10% and you will break even. Who would say that this time next year it will not go up another 30%. You can always come out of it. this offer may not be around long. My gutt says you will not loose out. But you may have to pay a little more first thing. Remember that you will be going over the summer period when you should use less anyway. And if you cut bak a little eg turn the water down and switch things off a bit more you may well not see much differance?

This offer may not be round long.

Gambler

Yorkshireshrek wrote: »

I recently switched to the Eon Energy Online Extra Saver Standing Charge 5 tariff on dual fuel and I am now thinking of switching to Scottish Power to get one of their competitive capped rates to avoid the expected fuel rises. The problem is I have done all of the calculations on KWh etc and double checked with the various switching sites and it will cost me 30% more to switch to the cheapest cap with Scottish Power. I currently pay £823 a year with Eon which would rise if I switched to £1063 a year (£20 a month more). Bearing in mind that Scottish Power is capped until 2011 is it worth it??

I'm also on Eon v5 and my current bill is £1000 p.a. £300 increase if I want to fix. We are moving house in a few weeks so if Eon wont let us transfer our current tariff it may bring the fix back into play.