"N Power" capped - should I snap their hand off?

pault123

Martins email today got me price searching. I'm currently with Ebico.


Gas usage per year 15000 kw
Elec usage per year 2500 kw

Combined cost per month £69 (should be £59 but increased to cover winter debt)

Risk of this increasing by 15%-50% = £79 - £104 per month


A lot of people recommend the scottish power 2011 deal on here which I couldn't find on their site so will try calling them tomorrow.


The N Power 2011 deal sounds attractive >>>

Estimated cost: £837.98 = £69.83 per month


I've compared the unit costs and npower use a higher rate for first so many units then a lower rate, combined with the duel fuel, direct debit discount the £69.83 figure is achieved and fixed until 2011!

Is this a complete no brainer?

Angilion

I'm looking at the same offer and wondering if there's a big catch that I'm missing.

Extra details that might help someone advise myself and pault123:

The 3 year capped npower tariff is as follows:

Gas:
6.55p first 4572 Kwh/year
2.13p afterwards

Electricity
14.98p first 728Kwh /year
13.90p afterwards

pault123

Ebico currently charge me


ecec 11.20p per KWh
gas 2.86 per KWh


Will update once i've called Scottish Power today

nixinix

Awaiting with interest as this seems to be the best deal I can find too.... scared we will all swap and the price hikes won't happen....

Mikeyorks

pault123 wrote: »

Is this a complete no brainer?

Absolutely correct ... I'd move as quickly as possible.

That same move for me (EON 5) would cost me 53% (£907 to £1388) ... so I'm not prepared to do it. But at virtually zero cost to you (and I've checked your figures are OK - albeit to the Yorkshire tariff I hold for NPower 2011) .... I would get it done asap.

pault123

Mikeyorks wrote: »

Absolutely correct ... I'd move as quickly as possible.

That same move for me (EON 5) would cost me 53% (£907 to £1388) ... so I'm not prepared to do it. But at virtually zero cost to you (and I've checked your figures are OK - albeit to the Yorkshire tariff I hold for NPower 2011) .... I would get it done asap.

What are your current rates Mikey on gas and elec?

Are you on such a low rate now nothing compares or is it expensive in your area for capped?

shelly

pault123 wrote: »

A lot of people recommend the scottish power 2011 deal on here which I couldn't find on their site so will try calling them tomorrow.

If you haven't called SP yet I have just posted on the thread the tariff figures I was offered if it will help, save you a phone call.

Mikeyorks

pault123 wrote: »

What are your current rates Mikey on gas and elec?

Gas £30.24 Standing Charge per annum + 2.574 pence / kilowatt
Elec £68.53 Standing Charge per annum + 9.744 pence / kilowatt
..... but all discounted by 19.6% for dual fuel / online access etc. Works out just above £900 in net total .

So - if you take the discount off each of the above prices (which are VAT inc) - yes it is low compared to what you are paying? I've done quite well over the past few years as I was on an online tariff that EDF 'forgot' .... and just escaped a few months ago as they pushed it up over 30%. Managed to move across to EON at very little increase.


Cheapest cap is to stay with EON and go for V14 to 1.10.09 .... but that's a 38% increase. Moving to 2011 caps with either Scottish Power or NPower is 41% and 53% respectively. So I think I'm going to stick with variable - and buy the OH a bigger hot water bottle!

silps

I just rang Npower regarding their npower one fixed until July 2009 with free boiler cover and npower fixed price 2011. I asked if you are tied into a contract with these two tarrifs and the lady said no so you can switch whenever you want.

Can anyone else confirm that they have been told this as well or point me to the terms and conditions on the web?

Cheers.

Angilion

The npower 2011 fixed is 28% higher for me than the cheapest currently available unfixed tariff, BG Click 5, going on my current usage (which costs just over £1000 a year on npower standard tariff).

But...I don't want to be with BG and I'd value having a fixed tariff for 3 years.

What I musn't do is procrastinate until the fixed tariff is removed.

silps

Know the feeling, if I switch from my current npower tarrif to npower sign online 11 then I would be saving 16% but if I switch to npower fixed 2011 I will be paying 30% more than this cheaper npower tarrif.

So the question remains, is gas and elec going to go up 30% until the end of 2010?

Also I was told I wouldn't be tied into a contract so if the price goes down I can switch again. What to do...