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  • FIRST POST
    • MSE Archna
    • By MSE Archna 18th Aug 06, 10:37 AM
    • 1,874Posts
    • 6,140Thanks
    MSE Archna
    Should I get a price capped or green energy tariff? Article Discussion Area
    • #1
    • 18th Aug 06, 10:37 AM
    Should I get a price capped or green energy tariff? Article Discussion Area 18th Aug 06 at 10:37 AM

    This thread is specifically to discuss the content of the

    Should I get a price capped or green energy tariff? Article

    To discuss or ask a question about this article: click reply
    Report inappropriate posts: forumteam@moneysavingexpert.com




Page 5
    • shjo558
    • By shjo558 26th Jul 08, 8:33 PM
    • 1,508 Posts
    • 6,911 Thanks
    shjo558
    I have went with Martins advice and capped with Scottish Power.

    Bit scared now - how much will my payments go up by?!!
    Back to serious comping after a 2 year break - 25/05/13.
    • bristolleedsfan
    • By bristolleedsfan 26th Jul 08, 9:02 PM
    • 7,535 Posts
    • 9,643 Thanks
    bristolleedsfan
    I have went with Martins advice and capped with Scottish Power.

    Bit scared now - how much will my payments go up by?!!
    Originally posted by shjo558

  • Tricia2008
    After reading the advice from Martin we decided to sign up for a capped tariff yesterday, it seemed like the most sensible thing to do as our duel bill would only increase by 7 a year and it was 15 cash back for switching.

    We really can't afford another rise this year, so fingers crossed we have made the right choice.
    • Paul_J
    • By Paul_J 27th Jul 08, 12:21 AM
    • 101 Posts
    • 62 Thanks
    Paul_J
    Please excuse the sceptic in me, but the energy co's must be laughing their little socks off at the hundreds of thousands of people voluntarily giving them extra money each month (in the form of signing up for a capped tariff) in anticipation of 'a massive rise' which may not happen for months, if at all!
    They are going to be even more quids in than they would be if they never 'let on' about this impending doom of a price hike.
    These big energy co's started off the rumours, "Psst, big price hikes, and I mean BIG, on the way. Best get a capped deal ASAP!"
    C'mon, they're there to make money, not give us financial tips.

    This whole thing stinks.
    Its a money spinner, and we are the fish in the barrel being shot at!
    • Ms Chocaholic
    • By Ms Chocaholic 27th Jul 08, 12:40 AM
    • 9,720 Posts
    • 58,629 Thanks
    Ms Chocaholic
    I listened to Martin on R2 yesterday and have gone ahead and switched to Scottish Power fixed tariff; I was on Eon Energy Online Extra Saver Standing Charge 6.

    Now reading this thread I don't know whether I should have ... I've got a 7 day cooling off period though so a few days to think about it.
    Thrifty Till 50 Then Spend Till The End

    You can please some of the people some of the time, all of the people some of the time, some of the people all of the time but you can never please all of the people all of the time
    • bristolleedsfan
    • By bristolleedsfan 27th Jul 08, 12:56 AM
    • 7,535 Posts
    • 9,643 Thanks
    bristolleedsfan
    I listened to Martin on R2 yesterday and have gone ahead and switched to Scottish Power fixed tariff; I was on Eon Energy Online Extra Saver Standing Charge 6.

    Now reading this thread I don't know whether I should have ... I've got a 7 day cooling off period though so a few days to think about it.
    Originally posted by Ms Chocaholic

    Hope uve at least done the switch through a cashback site, both Cashback kings and quidco are paying 62.00 cashback for a dual fuel switch to SP.
  • Peartree
    After being told by npower that today was my last opportunity to move to their capped tariff, I went into something of a panic. However, I've come home, read my meters and sat down with a spreadsheet to do a bit of working out.

    I been on the comparison sites and my current npower tariff is, indeed, still the cheapest variable tariff I could get by some 15%. If I move to their capped tarrif I will immediately be paying nearly 30% extra and it is only capped until the end of March next year. There are other capped tariffs available, and for longer, but they will cost me a minimum of 40% more than I am paying now and, in the case of the longest cap (British Gas until the end of next year, 50%).

    The way I see it (and correct me if I'm wrong here as I do go a bit fuzzy with percentages), the only way I would benefit with the npower fix is if my TOTAL fuel bill between now and the end of March were to be 30% more expensive than it would be at the price I'm paying today. That could happen if my current tariff increases by 30% tomorrow or if, in stages, it goes up by considerably more than 30% over the 8 months. Similarly with the 40% to 50% extra I'd have to pay for the longer term fixes.

    Given that I'm also slightly cynical about the energy companies offering fixes (they've got the analysts looking at the market and I would suggest are extremely unlikely to be offering deals that will ultimately cost them money) I think I'm inclined to gamble on it.

    PS Npower have given me an extension on deciding until the end of tomorrow since they messed me around so much proving the info - 24 days to fail to answer a simple e-mail query!
    Last edited by Peartree; 28-07-2008 at 8:15 PM. Reason: Edited to add PS
    • bristolleedsfan
    • By bristolleedsfan 28th Jul 08, 9:09 PM
    • 7,535 Posts
    • 9,643 Thanks
    bristolleedsfan
    IThe way I see it (and correct me if I'm wrong here as I do go a bit fuzzy with percentages), the only way I would benefit with the npower fix is if my TOTAL fuel bill between now and the end of March were to be 30% more expensive than it would be at the price I'm paying today. That could happen if my current tariff increases by 30% tomorrow or if, in stages, it goes up by considerably more than 30% over the 8 months. Similarly with the 40% to 50% extra I'd have to pay for the longer term fixes.

    !
    Originally posted by Peartree

    Also if u stay on variable rate tariffs u are free to switch supplier and gain cashback in the region of 50.00-60ish pound for a dual fuel switch.
    • Browntoa
    • By Browntoa 28th Jul 08, 9:15 PM
    • 33,874 Posts
    • 40,001 Thanks
    Browntoa
    Eons Price cap is penalty free, so you can "jump ship" whenever you like prices do not rise like Martin says

    the EDF increase if followed by eon , will negate the increased cost of the units on the capped tariff I am on with them , any more increases will be a saving
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
  • anteater
    Capped rate seems really expensive!
    I was today poised to switch to a capped rate but pulled back at the last minute when I discovered it would cost about 28% more.

    I'm currently with E-on Online Super Saver 5 & I get an 18% discount on the unit prices. When I initially phoned to enquire about the capped rate, I was led to believe that I would be paying approx 15% more which I thought was probably worth it (6% more for the unit prices and loss of 9% of the discount). I did a few sums and called back to switch only to find out that the hike was over 15% on the unit price PLUS the loss of 9% of the discount. I've decided not to take the gamble and will stick with my current tariff for now.
    • phizzimum
    • By phizzimum 29th Jul 08, 9:54 AM
    • 1,699 Posts
    • 9,273 Thanks
    phizzimum
    I listened to Martin on R2 yesterday and have gone ahead and switched to Scottish Power fixed tariff; I was on Eon Energy Online Extra Saver Standing Charge 6.

    Now reading this thread I don't know whether I should have ... I've got a 7 day cooling off period though so a few days to think about it.
    Originally posted by Ms Chocaholic
    I know what you mean! But I was worried that the capped rates would disappear or be increased.

    We were with EDF and had been for a few years now, and I'd been meaning to change for a while. The price hike gave me the motivation I needed. I went through quidco (it hasn't tracked yet) so the 72 from them should offset the increase in fuel for a couple of months at least
    • danielag
    • By danielag 29th Jul 08, 10:47 AM
    • 287 Posts
    • 649 Thanks
    danielag
    Hi, i'm currently with Eon (energy plan) I'm confussed as to how to find the best capped deal, any advice would be greatly appreciated. I am also 286 in debit to them, can i still change?
    Thanks in advance
    • patchwork cat
    • By patchwork cat 29th Jul 08, 11:19 AM
    • 5,666 Posts
    • 8,762 Thanks
    patchwork cat
    Ah Danie - a ploy I believe that suppliers are using. You switch, they make your payment really low, then after 3 to 6 months they read your meter and you owe them money - so you can't switch until you clear the debt.

    We have switched quite a lot recently and they all set the DD really low to begin with.

    Danie you will have to pay your debt before you switch. Then go on a comparison site and put in your details. They will tell you the best deal - if you want a capped then tick the box to search for only capped deals.

    Have you read Martin's article? Have a read he usually explains all.
  • MattyNeth
    I'm switching from Southern Electric to Scottish Power and taking advantage of their 72 cashback through quidco. Am going to risk not taking the capped rate and go for their Discounted Energy Online DualFuel tariff.

    I'm about 100 in debit with S.Electric for Gas but over 100 in credit on my electricity. Will they offset it or will I have to pay the gas that I owe immediately to enable the switch and then wait months for them to send me what they owe me on the electricity - how does that work?
  • patrick78uk
    To whom recently switch to the capped tariff,

    Do you switch both electricity and gas to the capped tariff at the same energy provider?

    I had some searchs at EnergyHelpLine.com, and I can have the capped tariff for electricity and duel fuel, but not gas? Why is that? Does it mean that no gas provider offering the capped tariff in my region?
  • STEG
    Just a quick note, I have just come of the phone with NPOWER and as of today they are no longer offering any form of capping, due to the overwhelming response they have reached their limit, new customer or long term customer.

    Apparently they will reinstate "A" capping tarrif soon but this will be advertised in the press on its release, so customers come second again then, no early options for us to sign up!!!!

    I missed the boat on this one, and after 5 years of continued services from them I am looking else where, along with also filling a media complaint with them about.

    Lucky for us we move house in just over 4 weeks time, so looks like new home and new energy supplier..

    Good luck to the rest of you in sealing a deal else where.
    Arhhhhhhh, If only Life was that simlpe!!
    • jonnyb
    • By jonnyb 30th Jul 08, 12:10 AM
    • 575 Posts
    • 232 Thanks
    jonnyb
    hope this is not too smug
    I am capped already, on the british gas til 2010 deal. I signed up for it a few years ago, and just wondered how many MSE people are also on it.

    I am 100 in credit with my gas bill, with monthly payments of 21 per month ! Wasn't sure at the time, but it turned out to be a very good decision.
    Karma is a wonderful thing.
    • willow03
    • By willow03 30th Jul 08, 10:23 AM
    • 13 Posts
    • 1 Thanks
    willow03
    I am currently on a Price Fix 2008 NSC Online tariff with Southern Electric for duel fuel. It expires on 30th November this year and if I were to switch to another capped deal right now I'd be around £300 per year at least worse off so am unsure what to do!

    I've kept hearing Martin's advice to switch to capped asap but if anyone could advise me whether this is the best course of action in my circumstances I'd be very grateful. Thanks.
  • marshy50
    Its A Gamble With Poor Odds
    I looked into this capping and my supplier would have to increase my energy costs by 50% within the next year for me to break even on the cheapest capped deal I can find. With oil prices now dropping I'll take the gamble and stay with my current supplier. Another consideration is if you leave a capped deal there are penalties for early release. The best advice is just to become more energy efficent I've saved about 30% on using more efficent devices making the most of econmy seven and just switching things off when not in use. Generally just watching how I use energy and being careful not to waste any.
    Last edited by marshy50; 31-07-2008 at 12:04 AM.
  • thymely
    Are green energy prices likely to rise too? Cap or not to cap?
    Hi,

    Southern Electric better plan are supposed to be 100% hydroelectricity, but are their prices likely to go up inline with conventional electricity prices?

    On Southern Electric better plan paying 37/month via direct debit with 35% night usage on Economy 7. Should I change to capped?

    Any advice greatly appreciated.

    Thanks,
    thymely
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