Seriously, should we not all be thinking of fixing our gas and electricity prices, from what I understand these offers could be closing soon, or is this all a con to get even more revenue from us?
KS
KS
FIXING G & E pRICES
- Thread starter kitessurfer
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The advantage of these schemes seems obvious.
If prices increase, you pay the same agreed rate.
The downside is, however, that if prices drop, you will still pay the same rate.
If prices increase, you pay the same agreed rate.
The downside is, however, that if prices drop, you will still pay the same rate.
I was looking into this yesterday. I'm with Scottish Power and have an online dual fuel package. To move to their fixed price package, it's only fixed until Aug 2009. The thing is that the kwh charges on the fixed package are higher than I'm currently paying. So to move to a fixed package would immediately put up my annual payments by £200. If the fuel prices do go up by a large amount then i might well be better off to be on the fixed package, but what's guaranteed is that if I move now, I'll be worse off for sure at the moment. Maybe if I could sign up to a longer deal then I might be tempted, but we're only talking about 12 months here so I'm going to wait and see.
The fact that these fixed price packages are available, suggests (to me at least) that they're benefitting the suppliers. The moment that these packages become unavaible would suggest to me that they do not benefit the suppliers and therefore that would be the right time to switch.
The fact that these fixed price packages are available, suggests (to me at least) that they're benefitting the suppliers. The moment that these packages become unavaible would suggest to me that they do not benefit the suppliers and therefore that would be the right time to switch.
if you like the security of a constant price then go for it
you typicaly pay 10 to 20% on top for piece of mind lets assume 15%
lets assume your average bill is £1'200 plus 15% thats £1'380
now they know the prices for the next 3 months so lets assume in nov they anounce a 20% increase then in april a 40% increase now thats 60% and your probbably£400 better off!!!! well not realy
assuming you pay your bills monthly at the end off the month
july aug sep oct nov 5 months at £100=£500 furure payment 20% more =£120
so dec jan feb mar apr 5months at £120=£600
future payments are 40% higher than £120=£168
so thats may june at £168= £336
so thats £500 +£600+£336=£1436
by this example you would only be £56 worse off over a fixed rate even though the increase was 60%
now the actual rises are likly to be less and maybe earlier in the new year but who knows what is likly to happen
ps can someone check the maths as they where off the top off my head as my calculater is caput
you typicaly pay 10 to 20% on top for piece of mind lets assume 15%
lets assume your average bill is £1'200 plus 15% thats £1'380
now they know the prices for the next 3 months so lets assume in nov they anounce a 20% increase then in april a 40% increase now thats 60% and your probbably£400 better off!!!! well not realy
assuming you pay your bills monthly at the end off the month
july aug sep oct nov 5 months at £100=£500 furure payment 20% more =£120
so dec jan feb mar apr 5months at £120=£600
future payments are 40% higher than £120=£168
so thats may june at £168= £336
so thats £500 +£600+£336=£1436
by this example you would only be £56 worse off over a fixed rate even though the increase was 60%
now the actual rises are likly to be less and maybe earlier in the new year but who knows what is likly to happen
ps can someone check the maths as they where off the top off my head as my calculater is caput
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to tied to check the maths sorry.. but will some other time.
OK on Scottish power, I'm also with them.I'm seriously thinking of fixing now. If you check how many shemes have closed you'll be amazed.
http://www.energywatch.org.uk/
link to watchdog site..
I wouldn't switch if I needed to go to another supplier, as it could end up with agro- billing probs etc.. (pesemistic view I have)
In the scottish power info they mention it works out £3 and £5??more expensive per month, what they must mean is purely the supply to get it to your house, rather than the per unit increase which you would need to calculate for your own usage.
I'm monitoring meters daily for a month... to get idea of my usage. (I know its sad) times are hard
KS
OK on Scottish power, I'm also with them.I'm seriously thinking of fixing now. If you check how many shemes have closed you'll be amazed.
http://www.energywatch.org.uk/
link to watchdog site..
I wouldn't switch if I needed to go to another supplier, as it could end up with agro- billing probs etc.. (pesemistic view I have)
In the scottish power info they mention it works out £3 and £5??more expensive per month, what they must mean is purely the supply to get it to your house, rather than the per unit increase which you would need to calculate for your own usage.
I'm monitoring meters daily for a month... to get idea of my usage. (I know its sad) times are hard
KS
switched to scottish fixed yesterday....a bit of haggling got the lower rate!
Hi Ellal,
what lower rate are you refering to.?
KS
what lower rate are you refering to.?
KS
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