Anyone gone for a fixed energy cost supply contract?

[Feek]

I'm looking at this at the moment and it's a nightmare to work out. I've only been with Scottish Power for one quarter and at the moment their web site is so painfully slow that I'm struggling to work out how much extra it's going to cost me if I transfer to a fixed cost contract and whether it's worth doing that considering the spiralling energy costs.

Anyone done the calculations? Does it look a good deal? As soon as I can persuade the web site to give me the details of my last bill then I'll make the call.

[leowyatt]

I think we are on one Feek but I'll need to check with Kitten.

[Feek]

The one I'm looking at is the No Standing Charge, paperless billing and monthly direct debit fixed cost doofer, but from my initial figures, it would have cost me £50 for the last quarter for just the electricity alone so it doesn't seem that great.

Still trying to get my bill off the website so I can see the exact figures but it's just so slow.

/edit - The 20 minute inactivity timer just timed out while I was trying to get my bill :(

[Mark]

Scottish Power, Online dual fuel, No Standing Charge, Fixed to 2011. Check.

If you're struggling with the numbers, can you scan your bill or at least PM me a copy of the consumption figures, cost per kWh and any standing charge you currently pay from your last bill and I'll try and figure them out for you (it's a pain but I've done it with my own bill).

You want to be doing this ASAP if you're going to as I'm expecting the price hike to happen in the next week or so.

PS - at least in my area, the fixed price bills worked out £2-£3 per month more than the standard rates (total - across both fuels), but that'll be swallowed by the next hike.

PPS - I suspect everyone else is doing this, hence the slow site. Yup, slow for me too.

[Feek]

Thanks Mark, as soon as I can get the damn bill, I'll upload it and PM it to you. Fixed to 2011 though, I thought they were only to 2009?

[Mark]

Maybe they've dropped the 2011 offer. Wouldn't surprise me. I guess I got lucky if they have.

Edit - yup - the 2011 prices are no longer listed. :(

PS - if you have start/end meter readings and your current tariff details I can probably reverse-calculate the bill for Electricity. Not sure about the calculation for Gas though.

[Feek]

http://www.ukrm.org/feek/temp/consumpt-20080730-211234.png

Currently on the Online Energy Saver 4 tariff I believe. Still trying to get a proper bill.

[Feek]

... and there's a PM on the way to you Mark, thanks :)

[Mark]

And a reply on the way back with my calculations.

Overall energy prices would have to increase by 22.71% to make the switch worthwhile. It looks like Scottish Power may have already factored in the next likely price rise in the new 2009 deal. It's no wonder the 2011 deal is no longer available. :(

[Feek]

Thanks Mark, it's a gamble but I think it's one I'm going to take.

[Feek]

.... and it was a good call (http://news.bbc.co.uk/1/hi/business/7588375.stm)

[Nutcase]

21 Aug - Eon
Gas up 26%, electricity up 16%

Hmm, missed that rise. Gits!

[Mark]

Yup, it sure was. I'll admit I was doubtful but they beat the 22%. In my case I use very little gas so would have been closer to 10%, but I fixed before all this lot kicked off anyway.

[LeperousDust]

Scottish Power said it would raise gas prices by an average of 34% and electricity prices by 9%, effective from Monday 1 September.

:| LOL craptastic, our apathy to bills is paying off royally as usual. I hate the fact i can't get anything done in this flat with regard to bills because the rest are uselss and don't care enough until its too late (about now :p). Poop.

[Feek]

Received today:

Dear Feek

Taking care of your energy needs, just the way you like it

Your Fixed Price Energy Offer ends on 31st August 2009 and because you're an important customer to us, we want to let you know what happens next.

If you're happy to cap your prices for the next 12 months, you don't need to do a thing. On 1st September 2009, we'll automatically move you to a great new deal called Capped Price Energy September 2010.*

With this deal you'll have peace of mind knowing that over the next 12 months your prices could go down, but they definitely won’t go above the capped rates.

There may be a cancellation charge if you decide to end the new deal early.** But, if you stick with it, you’ll have the reassurance that your prices will not rise above the capped rates until after 31st August 2010 – whatever happens to the market.

Option to opt out

If you don't want to protect your prices and would prefer to move to our standard monthly Direct Debit prices please tell us before 30th September 2009.

Standard monthly Direct Debit prices are currently the same rates as Capped Price Energy September 2010 prices and could go up as well as down.

*ScottishPower's Capped Price Energy September 2010 guarantees that prices will not rise above the capped rates until after 31st August 2010. Capped prices correct as at 3rd August 2009.

**We may apply cancellation charges inclusive of VAT of £30 for electricity and £20 for Gas if you switch to Capped Price Energy September 2010 but then cancel your supply contract or switch to another tariff before 31st August 2010. These charges will not be applied if the supply contract is cancelled due to a home move.



Where's the smart money now? Any suggestions as to what to do for the next year?

[Glaucus]

I'm just trying to decide who to switch to. I've got an excel spreadsheet o the ones I can find rates for as you said it's a mine field.
But haven't looked into fixed costs.

http://images-hosted.com/images/fbnni7b3qammjis25us6.jpg

[Knipples]

Does this help?

I love this man

http://www.moneysavingexpert.com/utilities/Capped-tariff-ending-compare-gas-an

[Glaucus]

Ignore

[Feek]

It is a minefield.

I've pulled up my last bill and going on that, I'd be paying roughly £20 more on my electricity and 20p less on my gas. Of course, this quarter is a quiet quarter for gas with the boiler only being used for hot water.

The quarter before that when the heating was on a lot, under their new capped tariff we'd be paying around £23 more on the electric and £33 more on gas.

That's if I read all this paperwork correctly! The new capped rate is the same as their current standard pay monthly tariff, so rather than sign up for a fixed rate as I'm on now, I'd be capping my rate so it won't go any higher than it currently is but if prices drop, then my rates will drop as well.

[Jonny69]

As in fixed amount per unit? If so yes, with Equipower.

Gas: 3.675p per kWh inc VAT (http://www.ebico.co.uk/html/g_rates.php)

Electricity: 13.40p per KWh inc VAT (http://www.ebico.co.uk/html/e_rates.php) (London area)