Should I fix..?

barrymung

Hi,

I'm currently using around £35 per month gas, £35 electric and am on the nPower "Fixforfree" direct debit tariff. (I believe this is based on standard tariff prices, so far no one has been able to confirm this, nPower included!)

I have tried the likes of uSwitch etc but all give varying opinions on the cheapest suppliers. None seemed to list the nPower "fixforfree" tariff as an option.

nPower have told me that for a further 7% per month, I can fix until 2011. On the surface of things this seems like a good idea. However, this tariff obviously costs more than 7% over the cheapest discounted tariff!

Whilst I expect prices to increase, I'm not sure they'll hit the 40% touted by the press, probably nearer 20%-30%...comments?

I'm left wondering whether it'd be cheaper to opt for a discounted variable rate tariff rather than a fixed tariff?

As the price match websites don't appear to list the "fixforfree until 2009" tariff it's very difficult to work out what the best option is!

My question is: Am I better off fixing for a 7% premium above standard tariff or choosing a discounted tariff? At what percentage increase in fuel prices will I start to lose out? Is there a better fixed price offering than the nPower one?

Ducks_Bum

The fixforfree tariff is charged at Npowers Standard Tariff and is only fixed till March 2009. The 2011 price fix finished on Saturday and was 7% more than the standard tariff you were on.

I think the fixforfree was a way of keeping customers through the inevitable price rises later in the year but obviously your prices will shoot up straight after this.

Npower have their Npower One tariff which is 5% more than you pay now and is fixed till August next year and included Boiler Cover for 12 months worth 108 quid.

freddiejohn

have just fixed with npower til jan 2011 costs a premium but with a little care should be able to reduce consumption to partly cover cant see prices coming down but if they do you can revert back to different tarrif or switch there is only 28 day contract and no escape charges

Ducks_Bum

freddiejohn wrote: »

have just fixed with npower til jan 2011 costs a premium but with a little care should be able to reduce consumption to partly cover cant see prices coming down but if they do you can revert back to different tarrif or switch there is only 28 day contract and no escape charges

when did you arrange this?

cujo_2

i have fixed mine today - thursday

NPowerUser

Ducks_Bum wrote: »

when did you arrange this?

Just fixed mine today, although they may have removed it from their main website I found this.....
http://www.npower.com/web/At_home/Popup/pricefixterms/index.htm

Price Fix Terms

*npower’s price fix 2011 tariff is fixed at npower’s standard electricity and gas tariffs (including discounts) as at 05/01/08 plus a 7% premium on both fuels. It excludes any internet and npower Juice tariffs and is not available to prepayment customers. Offer available to new and existing standard and E7 npower residential customers as a dual fuel or single fuel electricity offer. In all cases, payment must be by monthly Direct Debit. Contracts must be entered into between 05/01/08 and 31/07/08 inclusive. Prices will be fixed until 31/12/10 providing there are no increases imposed by any governmental, statutory or licensing authority. Offer is limited, subject to availability and may be withdrawn at any time. This cannot be used in conjunction with any other offer. Calls may be monitored and recorded for training and security purposes.

Once I pointed out that they are still advertising this and they must honour their advertisement they were OK about it and switched me to the 2011 price fix tariff. Take a screen print and threaten to go to trading standards if you have any problems.

mary43

Have just phoned npower and been told that I can stay on the online tariff until mid-July.........if I ring them then they will put me on to a fixed tarriff -so at least I'm getting a bit longer at the cheaper online rate.
The girl I spoke to was very very helpful.

Ducks_Bum

mary43 wrote: »

Have just phoned npower and been told that I can stay on the online tariff until mid-July.........if I ring them then they will put me on to a fixed tarriff -so at least I'm getting a bit longer at the cheaper online rate.
The girl I spoke to was very very helpful.

You will only be able to fix them if the price fix tariffs are still available though, it's likely they will get pulled soon. So if you're considering going on a price fix, I would change asap.

Which SOL rate are you on?

mary43

I thought there was only one on-line tarriff -or am I getting a bit muddled ?
As for the fixing/capping............I was told yesterday that the end of July is the final date as mentioned on the website and the lady I spoke to said she'd made note of it on the computer that I'd be able to change to fixed tarriff mid July so I get that bit of extra cheaper rate.

NPowerUser

mary43 wrote: »

I thought there was only one on-line tarriff -or am I getting a bit muddled ?
As for the fixing/capping............I was told yesterday that the end of July is the final date as mentioned on the website and the lady I spoke to said she'd made note of it on the computer that I'd be able to change to fixed tarriff mid July so I get that bit of extra cheaper rate.

You would be better off switching to the 2011 price capped price now as a scribbled note on a computer screen may not be legally binding.

They will ask you for a current meter reading, so all you have to do is guestimate your usage to what you think the meters will read to mid July, then give that as the current reading. Its a bit naughty but don't go mad, be realistic, that way you are guaranteed of not losing out. I billy bullsh*tted mine by an extra month to get the extra benefit. That way you get the benefit of your current cheaper rate and still get to keep the price fix tariff to 2011 before they go up 25%+

mary43

Am I better going for the 2011 rather than the 2009 ? I was told I could go for the 2009 if I wanted then if things were much the same then or looked like getting worse I could easily go onto the 2011.