Which is better - capped or fixed?

Cookiepops

I am currently with Scottish Power online energy saver 4 dual fuel. In light of all the predicted price hikes, I checked out the comparison services and was basically given 2 options:

1. Scottish Power Online Fixed Price Energy 2009 - prices are fixed until 31 Aug 09

2. e-on price protection Oct 09 - prices capped until 01 Oct 09

not sure which one to go with, I presume the capped one would be cheaper?

Thanks

Premier_2

All other things being equal, the capped rate would be better as it still allows prices to fall unlike the fixed rate.

Unfortunately, they are not otherwise identical, so you need to assess the risk vs cost of both options to your situation.

BexTech

Also isn't the Price Fix until end of Feb 2011 still available direct via Scottish Power website if you are already a customer, therefore if prices increase past 2009 you'll still be fixed for a further 2 years.

bankersmug

There's an eon capped till oct2009 tarriff that has no cancellation fee (unlike all of the others I've seen).

This means if it turns out prices don't go through the roof you can switch without penalty. It's called "eon price protection oct 2009".

BexTech

The Scottish Power Price Fix until end of Feb 2011 I signed up for a month or so back had no cancellation fee, so if prices do start dropping I can move away no problems.

bankersmug

BexTech wrote: »

The Scottish Power Price Fix until end of Feb 2011 I signed up for a month or so back had no cancellation fee, so if prices do start dropping I can move away no problems.

Yeah it doesn't seem to be available anymore. npower are offering the same deal but they're coming out as 30% more expensive as opposed to 21% with eon.