[Finance] Gas and electric prices

swindonseagull

Well-known member

Aug 6, 2003

9,268

Swindon, but used to be Manila

• Jan 6, 2019

• #1

Currently with First Utility and my price lock tariff is up in 3 weeks.
They are offering a 'reasonable' tariff locked in price for 36 months but £9 per month more expensive than a tariff locked in for 12 months...

Any one have any views on how long to lock into a priced lock?

or any views on other suppliers?

Been on compare the market and not a great variation in prices.....I dont consider saving £100 over 12 months to be a bargain.


Ta

 

Cheshire Cat

The most curious thing..

Nov 4, 2006

11,440

Sitting on a bough of a tree a few yards off...

• Jan 6, 2019

• #2

They clearly expect the costs to go up in the next three years and have priced accordingly.

I would have thought 36 months is a long time to fix unless there is a good get out deal if circumstances change. EDF for example allow you switch during a fix period without penalty, but not everyone does. It depends if you value security of price over possible cheaper (or more expensive) deals turning up during the fix. It's the same issue as fixing a mortgage on a smaller scale.

In terms of customer service, the smaller companies may offer cheap deals to entice customers and gain market share, but often don't have the capacity if they take off. Hence customer service can be dire.

Recommendations are a a matter of personal choice. I have had no problems with my supplier EDF, but I have hardly ever had to contact them to date. Others may have a different experience (like reviews on trip advisor where half say it was great and half say it was dreadful, and both are right because of their particular and different issues).

 

swindonseagull

Well-known member

Aug 6, 2003

9,268

Swindon, but used to be Manila

• Jan 6, 2019

• Thread starter
• #3

Have stayed with First Utility locked in for 14 months....I also thought 36 months was a bit long

 

Geestar

New member

Nov 6, 2012

3,421

Shoreham Beach

• Jan 6, 2019

• #4

Just stay away from EDF.

Sent from my TA-1020 using Tapatalk

 

banjo

GOSBTS

Oct 25, 2011

13,244

Deep south

• Jan 6, 2019

• #5

Use Switchcraft you’ll never have to look up deals again as they notify you when a better deal is available. Simples.

 

D

dstanman

Well-known member

Jul 1, 2011

1,280

• Jan 6, 2019

• #6

Been looking at moving to Bulb

 

father_and_son

Well-known member

Jan 23, 2012

4,646

Under the Police Box

• Jan 6, 2019

• #7

swindonseagull said:

Currently with First Utility and my price lock tariff is up in 3 weeks.
They are offering a 'reasonable' tariff locked in price for 36 months but £9 per month more expensive than a tariff locked in for 12 months...

Any one have any views on how long to lock into a priced lock?

or any views on other suppliers?

Been on compare the market and not a great variation in prices.....I dont consider saving £100 over 12 months to be a bargain.


Ta

Click to expand...

Better half works for the local big supplier so leave ours to her to sort.

However, a load of the little guys gone to the wall recently and anyone in credit with them has little chance of recovering that money. Would always choose a "named brand" for something like this... you overpay all summer and underpay all winter. You can get into a quite a reasonable degree of credit so not worth the risk to my mind.

 

B

Blue&WhiteSea

Well-known member

Jul 5, 2003

811

Sutton

• Jan 6, 2019

• #8

father_and_son said:

Better half works for the local big supplier so leave ours to her to sort.

However, a load of the little guys gone to the wall recently and anyone in credit with them has little chance of recovering that money. Would always choose a "named brand" for something like this... you overpay all summer and underpay all winter. You can get into a quite a reasonable degree of credit so not worth the risk to my mind.

Click to expand...

Not strictly true, I was with one of the ones that went to the wall and my credit balance was transferred to the supplier nominated by the regulator to take over the customers.

 

Birdie Boy

Well-known member

Jun 17, 2011

4,108

• Jan 6, 2019

• #9

Blue&WhiteSea said:

Not strictly true, I was with one of the ones that went to the wall and my credit balance was transferred to the supplier nominated by the regulator to take over the customers.

Click to expand...

Same for me as well.

 

ferring seagull

Well-known member

Dec 30, 2010

4,607

• Jan 7, 2019

• #10

Recently received an email from Cheap Energy Club (Martin Lewis) which ran along the lines

"you will be pleased to hear that you are currently on the cheapest available tariff"

It shows how worthwhile it is to use such companies which are for free !
Have been with Avro Energy for a couple of years and more than happy (currently).