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So which tariff is the cheapest now?

Last post Tue, Feb 19 2008, 4:50 PM by backfoot. 2 replies.
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  •  Fri, Feb 15 2008, 11:30 AM

    So which tariff is the cheapest now?

    The bad news continues for energy customers. British Gas announced it was hiking the cost of its Click Energy 4 deal just days after E.ON and Scottish Power said their gas and electricity prices were going up. With five of the six largest providers having increased costs in recent weeks, it’s time to take a step back and review the market. Utilities Manager, Scott Byrom takes a look at the current situation...

    Click here to read more.


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    • Post Points: 20
  •  Mon, Feb 18 2008, 3:05 PM

    Re: So which tariff is the cheapest now?

    It certainly isn't EDF . I am on the V3 online tariff and have been told that my gas rates are going up 33% , and elect 21% . It is almost as though they dont want online customers anymore , trouble is until Atlantic put up their rates who do I switch to , as I dont want to jump from the frying pan into the fire.
    • Post Points: 20
  •  Tue, Feb 19 2008, 4:50 PM

    Re: So which tariff is the cheapest now?

    Good article Scott.

    I note that you haven't included a figure for nPower's fixed rate product which is splurged daily across the press.

    I offer up my findings on this product:

    Having hiked prices by the massive 17.2% for gas and 12.7% for electricty, Npower quickly started advertising their own 3 Year Fixed Price product. Pretty cynical having scared the ordinary customer witless.

    You can't apply for the product via MS, but the half and whole page adverts in the press look very appealing to those shellshocked by the extortinate rises.Of course you don't see any prices in these adverts so I thought I would explore.

    I have done a detailed analysis of my own consumption and have then modelled that against my existing tariff and supplier and then also modelled it against the Npower Price Fix 2011 prices detailed on their website.

    My net cost for dual fuel currently is £1340 p.a. (gas £905, electricity £435).

    Under the Npower Price Fix 2011, the costs would be £1777. (gas £1109, electricity £668).

    That is a difference of £437 additional cost to hold these prices to 2011. (32.6% increase).

    As I have no idea about future prices and have not been able to get a view of this from any market expert, any committment to fix would be a pure gamble.

    I can only conclude that the tariff is very well titled.i.e A Price Fix.

    • Post Points: 5