Virgin Switcher - Please guide me!!!

KILOCHARLIE

Hi,

I've never looked into switch supplier but since bills are rising I thought I'd give it a go, especially when martin's email states its the last time to switch to a capped rate when prices are expected to rise 15%-45% in the next few years.

I'm currently with Swalec (scottish and southern or something) and only have electric in my flat. I have worked out I currently use around 4000 units a year and always pay by DD.

I'm assuming units are kWh's and gave the moneysupermarket comparison a go. If I select to show all tariffs it recommends British Gas "Click Energy 5" and states I will save a whopping £135 plus the cash back (£382 annual bill)

If I select capped / fixed tariffs only, it shoots up to £527 a year with only a £9 saving on what I'm currently on. This is an e-on price protection tariff.

Meanwhile when I try the energyhelpline site, it recommends the same tariffs although it says that if I choose the capped service, it will actually increase my bill by £31!

What would you guys recommend?

I've also seen other threads that say that you can get a lot more cashback than £17.50 via othersites although it not certain. I'm already signed up to quidco and I'm fine with a bit of risk? Whats my best option here too.

Thanks to all that can help!!!

KILOCHARLIE

went with british gas if anyone cares. Thru quidco for a £40 cashback

£150 saving is too much to refuse when the cap is only 16 months. Prices would have to rise by 45% in the next couple of months for me to lose out. Doubt that will happen.

there was another fixed until 2011, but that was more expensive again. almost £200 extra per year. So again prices would have to rise 45% in the next few months for me to save on that too.

Looks like swings and roundabouts to me.

fiddling_flower_petals

KILOCHARLIE wrote: »

Hi,

I've never looked into switch supplier but since bills are rising I thought I'd give it a go, especially when martin's email states its the last time to switch to a capped rate when prices are expected to rise 15%-45% in the next few years.

I'm currently with Swalec (scottish and southern or something) and only have electric in my flat. I have worked out I currently use around 4000 units a year and always pay by DD.

I'm assuming units are kWh's and gave the moneysupermarket comparison a go. If I select to show all tariffs it recommends British Gas "Click Energy 5" and states I will save a whopping £135 plus the cash back (£382 annual bill)

If I select capped / fixed tariffs only, it shoots up to £527 a year with only a £9 saving on what I'm currently on. This is an e-on price protection tariff.

Meanwhile when I try the energyhelpline site, it recommends the same tariffs although it says that if I choose the capped service, it will actually increase my bill by £31!

What would you guys recommend?

I've also seen other threads that say that you can get a lot more cashback than £17.50 via othersites although it not certain. I'm already signed up to quidco and I'm fine with a bit of risk? Whats my best option here too.

Thanks to all that can help!!!

Quidco currently offering cashback for single fuel sign up on:-

Eon £25
British Gas £40
Scottish Power £31
Npower £20

however a £5 annual admin fee will will be deducted from your first cash back when it pays out.

If using quidco or other cash back sites remember cash back is not guaranted to pay out but pays out more than comparison and switch sites

As whether to fix or not, it really a personal choice basis on how flexible your household budget is but consider a possible 15% - 30% rise in fuel costs this year.

British Gas click energy 5 @ £382 pa
a 10% increase becomes £420 pa
a 15% " " £438 pa
a 30% " " £497pa

For me switching to fixed rate tarriff would mean an annual increase of £200.
Edit;- just checked out new fixed rate tariffs and checked out my suppliers site(n power) and basically I can fix at my current tariff for free till 31st March 2009 with no additional charges and 28 day rolling contract.:beer:


I recently switch supplier for my MIL to Scottish Power(with £75 tracking with quidco) fixed tariff until Feb 2011, which is about £1.50 per month more expensive than her current tariff but £6 per month dearer than cheapest tariff available. She decided to pay £18 more pa and fix tariff, rather than save £54 pa and risk rising energy prices.