EDF Simply Fixed February 2018

oxters · 7 December 2017 at 8:16PM

I am on the February group switch.

Is February the biggest or only bulk switching month please?

Apparently I can save by switching now (but still under penalty)

I think I should save more by waiting until I am advised of the best bid in February.

I know we can never be certain of anything, but is my thinking generally correct?

Thank you.

System · 7 December 2017 at 9:07PM

oxters wrote: »

I am on the February group switch.

Is February the biggest or only bulk switching month please?

Apparently I can save by switching now (but still under penalty)

I think I should save more by waiting until I am advised of the best bid in February.

I know we can never be certain of anything, but is my thinking generally correct?

Thank you.

Collective switches are no longer what they were. Suppliers are no longer interested in mass migrations and would rather target their marketing and referral fees in different ways. For example, many people have got a £100 credit in the past month for just switching to Bulb. This offer has now been reduced down to £50 but Bulb will also pay your exit fees. There are other similar deals out there. You need to do a full market comparison; look carefully at separate suppliers and at cashback sites. Getting the cheapest energy now requires consumers to be more proactive. Waiting for Martin’s team may cost you money. Then again it may not; if that is the case, you can always switch again.

McKneff · 7 December 2017 at 9:49PM

I went onto a new contract with edf as my old one was up.

Great, because with the new contract came a full years breakdown cover for my boiler.
Saves me an awful lot of money, my service agreement comes to an end this mid month and
i was about to renew at around £30 a month cover.

Never ever had a problem with EDF either.

footyguy · 8 December 2017 at 10:19AM

oxters wrote: »

I am on the February group switch.

Is February the biggest or only bulk switching month please?

Apparently I can save by switching now (but still under penalty)

I think I should save more by waiting until I am advised of the best bid in February.

I know we can never be certain of anything, but is my thinking generally correct?

Thank you.

You can switch whenever you like, but you are wise to have considered the effect of any early exit fee.

If you believe you will not recover the cost of such fee in the short period left to run, then delay switching.
Remember, you can switch penalty free 49 days (7 weeks), so if your deal ends 28th Feb, then you can start switching early January. Something to do after you've taken the decorations down

matelodave · 8 December 2017 at 12:00PM

Have you actually done your own sums, rather than just looking at what a comparison site reckons you'll save.

Dont forget that you'll be using most of your energy between now and February and you'll have the exit penalties to pay, so unless the kwh rate is significantly less than you are paying at the moment I'd have a rethink.

I'll be using around 45% of my annual consumption in the next three months so make sure you take your winter consumption into consideration

footyguy · 8 December 2017 at 12:30PM

oxters wrote: »

I am on the February group switch.

Is February the biggest or only bulk switching month please?

Apparently I can save by switching now (but still under penalty)

I think I should save more by waiting until I am advised of the best bid in February.

I know we can never be certain of anything, but is my thinking generally correct?

Thank you.

Seems you could have saved over £100 a year when you first took the EDF tariff... and you asked what to do and the reponses given was to go on price.
(I'm sure they meant the cheapest, not the most expensive)
http://forums.moneysavingexpert.com/showpost.php?p=72101881&postcount=79

But I see you tend not to hang around for responses...:cool:

No early exit fees with that cheaper supplier either, and if they were the cheapest back in February, they probably still are the cheapest even after their price hike a couple of months back.

Good luck!

oxters · 9 December 2017 at 3:30PM

I hadn’t ticked the notifications box. Thank you to all for helpful replies.
We are off skiing in early January so probably wait till we get back and get a penalty free switch. On my second contract with EDF and my experiences put them at the top of my preferences, but Bulb might tempt me.

oxters · 12 December 2017 at 7:26PM

Getting a bit spooked with the North Sea pipeline being cracked on land not too far from my home city, coupled with gas plant problems in Austria handling Russian Gas! Bulb is a variable rate which could shoot up if industry prices rise. I am thinking of going for a fix with an unrated company while I can still get a 1 year fix.

Any thoughts? I suppose the rate might go up between application and supply, or they might decline the switch if prices are about to rise.

A second opinion would be appreciated.

System · 12 December 2017 at 9:00PM

oxters wrote: »

Getting a bit spooked with the North Sea pipeline being cracked on land not too far from my home city, coupled with gas plant problems in Austria handling Russian Gas! Bulb is a variable rate which could shoot up if industry prices rise. I am thinking of going for a fix with an unrated company while I can still get a 1 year fix.

Any thoughts? I suppose the rate might go up between application and supply, or they might decline the switch if prices are about to rise.

A second opinion would be appreciated.

If they ACCEPT your application to switch today, on a fixed tariff, and it takes 5 weeks to take over your supply, then your tariff rate is guaranteed even if the tariff is revoked next week.

Remember, energy suppliers forward buy - some do so years in advance of supply. It is also worth noting that the wholesale price of energy accounts for less than 40p in every £ that we pay. If the wholesale price doubled overnight, then the increase would only be in the order of 20%. I wouldn’t panic just yet.

EDF Simply Fixed February 2018

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