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Fixed energy price tariff till Jan 2018

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Fixed energy price tariff till Jan 2018

Just wondered what people's views are on switching to a fixed tariff for over three years.
Looking at the figures on offer the electric would have to rise by an average of 7% each year, gas by 5.5% and the standing charge by 6.5%.
The only info I could find was that the last increase from First:Utility was early this year at 3.5% so, at that rate, the fixed tariff doesn't look so good.

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Community Veteran
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Re: Fixed energy price tariff till Jan 2018

That is one long term fix. I went for a 2 year, paying slightly more than I was but it did mean that I don't have any massive increases for 2 years. With First Utility as well. Currently on V21 fixed till Sept 16. Was £100/year more than I was paying but I expect the costs to rise like they have over the past years.
Community Veteran
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Re: Fixed energy price tariff till Jan 2018

My one year deal runs out in November so I will soon be looking around
Community Veteran
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Re: Fixed energy price tariff till Jan 2018

Also the rises would have to be more than you said to take into account right now you would be paying more until any rises catch up, and if labour win the election they have a pledge to freeze energy prices.
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Re: Fixed energy price tariff till Jan 2018

I would be interested in how they propose to freeze energy prices as they have zero control over the wholesale markets.
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Re: Fixed energy price tariff till Jan 2018

@andyH,
They would probably arrange some deal with the energy companies to subsidise the price, this would go against the EU policy but no doubt they would find some way to get around it, failing that they could then say we tried our best to freeze the price but the energy companies/EU/opposition et al. Prevented us from doing so.
At least 90 per cent of what politicians promise before an election can be disregarded as they have one single purpose and that is to get  back into power, strangely some people accept every word they say.
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Re: Fixed energy price tariff till Jan 2018

The energy & gas market is a buy up front market. They can say I want n billion units @ £ and that is what they pay if the price is agreed.
@gleneagles totally agree I NEVER accept what any politician says. 99% is spam and the 1% is baloney. ;-)
If you vote for me :-
I will make beer 50 a pint, petrol will be 50p a gallon and the sun will turn blue. These are my election promises ... vote Monster Raving Loony party.
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Re: Fixed energy price tariff till Jan 2018

Quote from: Mav
Just wondered what people's views are on switching to a fixed tariff for over three years.
Looking at the figures on offer the electric would have to rise by an average of 7% each year, gas by 5.5% and the standing charge by 6.5%.
The only info I could find was that the last increase from First:Utility was early this year at 3.5% so, at that rate, the fixed tariff doesn't look so good.
I Was with Scottish power on a fixed energy deal until January 2017. This dual fuel deal was working out at just over £ 100 a month.
I have recently changed to Extraenergy on a 12 month contract and based on my past usage they claim by bill for the next 12 months will be around £900.
Of course this is an estimate so I will only know the exact figure in 12 months.
Energy companies change their prices as quickly as some politicians change their mind so what might be a good deal with one company this month may be bettered by another company next month.
I also wonder if new customers get a better deal  for the first 12 months even though that is not advertised ?
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Re: Fixed energy price tariff till Jan 2018

Quote from: AndyH
I would be interested in how they propose to freeze energy prices as they have zero control over the wholesale markets.


I assume either they lieing, or it will be done via regulation, or a backdoor deal will be made so e.g. tax cuts to subsidise the companies.
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Re: Fixed energy price tariff till Jan 2018

Well thought out then Roll eyes