andrew-theasby
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| posted on 24/6/11 at 09:03 AM |
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fixing energy prices
Hi, were just moving into our first house its a 2 bedroom bungalow (me, g/f and daughter) and im trying to sign up for an energy deal but a bit lost.
Im guessing for gas and electric it will cost around £1000 year (about £40 a month each?) So based on this ive decided to go with EDF but there
tarrifs are
Online VARIABLE £966 year at todays rates
Fixed for 1 year £1009 year
Fixed for 2 1/2 years £1085 a year
Anybody got any advice? Is £1000 a year a realistic figure to base it on? Thanks
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cliftyhanger
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| posted on 24/6/11 at 09:14 AM |
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figure may be low, depending on how much heating you use and how well insulated it is.
In the current market I would fix for as long as possible. But then again stuff like that I regularly get wrong. However, there is little evidence to
suggest prices will drop, and more rises seem to be on the way already
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mangogrooveworkshop
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| posted on 24/6/11 at 09:15 AM |
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Depends where you put the central heating controls...
The x used to crank it up to full all the time.
Make the girls pay it and it will get real savings
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HomersDouble
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| posted on 24/6/11 at 09:21 AM |
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The talking heads that keep appearing on telly are saying that consumer prices may rise by up to 30% in the next few years (especially gas) - so on
that basis the longer fixed deal looks good value. Even if prices go up 10% in that time you still OK.
As to whether £80/month is realistic or not I don't know (down here in the tropical south I pay £110 for a 4 bed) but you should factor in that
the majority of the household are women.............how many baths will they run a day? 
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Jasper
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| posted on 24/6/11 at 09:26 AM |
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Sounds a bit low to me TBH, I think you need nearer £100+ a month.
If you're not living life on the edge you're taking up too much room.
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hughpinder
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| posted on 24/6/11 at 09:32 AM |
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Its a bit of a 'how long is a bit of string' question.
How old is the house? I rented a 2 bed bungalow that was built 40 years ago was a bit damp and had almost no insulation/double glazing and the heating
alone cost more than your total allowance (and that was 15 years ago)! On the other hand, my dad built his oiwn 2 bed bungalow at about that time and
maxed out the insulation etc and his energy use would only be about £400 last year (he offsets this and effectively pays nothing as he has a huge
solar panel array and exports to the grid).
It depends a lot on how hot you like the house/how much you use the tumble dryer/hairdryers/tv/computers/welders /leave lights on etc.
Personally I'd go for the security of the fixed long term - energy prices are most likely to go up steeply.
Regards
Hugh
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andrew-theasby
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| posted on 24/6/11 at 09:35 AM |
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quote:
Originally posted by HomersDouble
prices may rise by up to 30% in the next few years (especially gas) - so on that basis the longer fixed deal looks good value. Even if prices go up
10% in that time you still OK.
But for every month on the lower tarrif that they dont go up im saving 10%...
Just come up with an idea... id budgeted for around £50 a month anyway, so i could take the variable rate, pay £50 a month to get into credit then if
units do go up it will be a long time till my direct debit amount needs changing anyway. How does that sound?
Its around 40 year old, detatched, and well insulated. No garage, so no welder! thats staying at mum and dads
[Edited on 24/6/11 by andrew-theasby]
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Agriv8
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| posted on 24/6/11 at 10:43 AM |
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go for a fixed deal but look at quidco and get some cash back ( providing you do the maths )
I move to edf 6 months ago ( 1 year deal ) and got £80 for the trouble.
regards
Agriv8
Taller than your average Guy !
Management is like a tree of monkeys. - Those at the top look down and see a tree full of smiling faces. BUT Those at the bottom look up and see a
tree full of a*seholes .............
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James
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| posted on 24/6/11 at 10:47 AM |
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You been on Money Saving Expert?
http://www.moneysavingexpert.com/utilities/
Cheers,
James
------------------------------------------------------------------------------------------------------------
"The fight is won or lost far away from witnesses, behind the lines, in the gym and out there on the road, long before I dance under those lights."
- Muhammad Ali
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wombat
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| posted on 24/6/11 at 11:09 AM |
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Just signed a 2 yr deal with Scottish Power, they were the first to raise their prices and experts say all others will follow.
Moneysaving expert and similar were advising to go with 2yr fixed as prices are set to soar.....
Its all a guess really............
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D Beddows
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| posted on 24/6/11 at 11:53 AM |
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TBH I think £50 a month is a lot - I live in a 4 bedroom 1930's ex council house containing me and Mrs Beddows, 2 teenage girls and a 14 month
old and after decommissioning the power shower (I bought a decent shower head for the pipe coming off the mixer taps which actually makes for a far
superior showering experience anyway!), replacing every single bulb in the house with an energy saving one of equivalent performance and becoming
rather anal about switching things off we now use about £32 of electricity a month. The modifications cost less than £100 but have almost halved our
electricity usage.
It's all very well building up credit (or a 'buffer' as the energy companies prefer to call it.......) but they make enough profit
on the energy they sell you without letting them benefit from interest on your money sat in their account as well 
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JoelP
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| posted on 24/6/11 at 02:44 PM |
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i pay £50 a month for gas and £20 for electric, all on scottish powers online tariff.
Beware! Bourettes is binfectious.
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Chippy
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| posted on 24/6/11 at 04:20 PM |
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We are on a fixed price deal with Scottish Power till 2014 and pay £95 per month, for both electricity and gas. The house is (fairly) modern three bed
bungallo, with wall and roof insulation, so my feeling is your £50 is going to be well low. HTH Ray
To make a car go faster, just add lightness. Colin Chapman - OR - fit a bigger engine. Chippy
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D Beddows
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| posted on 24/6/11 at 06:00 PM |
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Think he meant £50 for electric and £50 for gas......... well that's the basis I was working on 
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Chippy
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| posted on 24/6/11 at 08:08 PM |
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quote:
Originally posted by D Beddows
Think he meant £50 for electric and £50 for gas......... well that's the basis I was working on
Ah! well yes that would be very near the right price to look at, thought he meant for the both, gas and electricity. :-) Cheers Ray
To make a car go faster, just add lightness. Colin Chapman - OR - fit a bigger engine. Chippy
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andrew-theasby
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| posted on 24/6/11 at 08:58 PM |
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Yes, it was £50 each BTW, Thanks for the replies guys, I think ive decided to fix it now, but best cashbacks i can find are only £20, or £30 on a
dearer tarrif. Id spotted a £50er the other day but that seems to have disappeared now Oh well, on with pricing up sky, phone and broadband etc
now. Cheers
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