Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Looking at sorting out our gas and electricity tariffs before EDF raise them 20ish % which i'm thinking will happen in a few weeks.
Whats the catch with the Fixed Price until 2014 tariff? Have looked through the terms and doesn't seem to be any real catch, they just fix the price at your current rate?  " I would of thought it would be like a fixed rate mortgage, in that it's a higher rate than currently.
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Had a quick look on moneysavingexpert and seems like the right thing to do, so i'm now locked in till March 2014, at least i'll know what i'm paying even if I don't save in the long term
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Ian W
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Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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Being a bit remedial here but what does this 'Fix'? Is it how many pence I currently get charged per unit/kwh?
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Instead of the rates going up when they undoubtedly raise them, i've now got them fixed at my current rate until March 2014. So yeah, how much I pay per unit etc...
Seeing as British Gas and Scottish power have raised theirs by nearly 20% each. I think it should save in the long run
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Rob_Quads
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Registered: 29th Mar 01
Location: southampton
User status: Offline
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quote:
Originally posted by Cavey
Whats the catch with the Fixed Price until 2014 tariff? Have looked through the terms and doesn't seem to be any real catch, they just fix the price at your current rate? " I would of thought it would be like a fixed rate mortgage, in that it's a higher rate than currently.
The catch is normally that fixed prices are higher than non-fixed prices. Its a gable that prices will go up enough such that your paying less than they rise to.
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Yeah, I was just on the standard rate anyway, could of saved 140 this year by changing to a saver rate, but i think that will be void once they put the prices up.
Like you say it's a gamble, but at least we'll definitely know how much we pay per month now
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John
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Registered: 30th Jun 03
User status: Offline
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Some idiot from Scottish Power phoned me after I'd left to British Gas.
Did I want to stay, British Gas were putting Elec up 15% and Gas up 10%, so that was a total 25% increase.
Tried to tell her it wasn't 25% but she didn't get it.
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Cavey
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Registered: 11th Nov 02
Location: Derby
User status: Offline
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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Prices are only going one way so good idea to lock in imo
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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Hmm - looks like I with EDF you can either fix it for 11 months or pay £9pm more than fix it for 32 months.
[Edited on 11-07-2011 by Rob_Quads]
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Hopefully you went through Quidco or TopCashback? I just saved £100 on my annual bill fixing til July 2012 with NPower and then they've paid me £80 in cashback as well 
Means my annual bill for gas and electricity after savings and cashback will come to around £200 all in 
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I locked mine with EDF around 6 months back, seems to work 
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