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No capped deals left - fixed rates until 2011

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Comments

  • Hootie19
    Hootie19 Posts: 1,251 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I am soooooo useless lol

    Of course, I was thinking that figures given were all savings. Now of course I've realised that there is a minus sign in front of them, and therefore that is the price RISE not a saving.

    So in fact, the cheapest is still with Scottish Power on Fixed Price Energy 2009 Online NSC tarriff, which will cost an extra £143.32 a year. Is this a better deal, or should we just sit tight?
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    Hootie19 wrote: »
    ...So in fact, the cheapest is still with Scottish Power on Fixed Price Energy 2009 Online NSC tarriff, which will cost an extra £143.32 a year. Is this a better deal, or should we just sit tight?

    It depends on when exactly the 2009 deal expires and how much you think prices may increase by.

    Lets assume 2009 deal expires in 12 months time (without checking the details I assume it could be anything from 6-18 months).

    By agreeing to the deal, you'd be accepting at least a 15% increase today.
    If you think the prices are only going up by 15% over the next 12 months, why agree to the rise today?
    If you think prices may go up in stages, e.g. 15% in 6 months time and another 10% 3 months later, you'd be better off as you are. (If only one price rise occurs in the next 12 months, say in 6 months time, prices would need to increase by over 30% at that time for you to benefit)
    If you think prices may increase anytime soon by say 15% and further rises to follow shortly thereafter, then you should opt for the fixed price deal.

    If you know the answers to the above, could you tell me who is going to win the 3.45 at Ascot on Saturday? :D
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • Cardew
    Cardew Posts: 29,064 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Rampant Recycler
    Premier wrote: »
    If you know the answers to the above, could you tell me who is going to win the 3.45 at Ascot on Saturday? :D

    That's easier than the gas question - I would go for 'Takeover Target' unless the going gets heavy!(at least you will know on Saturday if you picked the right horse or not!

    Much as I am a fan of fixed price tariffs, I personally wouldn't pay a 30% premium.
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