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Just had a letter from Scottish Power telling me that my existing Pricefall plan ends on 31st October. But they will switch me to a new "Fix for Free" plan automatically.
"it means your new prices will be fixed until May 2009."
It also says:
"While your new prices will be higher than your existing prices, you'll have peace of mind knowing that, whatever happens to the market, your new prices will be fixed until May 2009."
That's good as long as the market stays as it is or goes up. But what happens if it goes down?
What is it I don't quite understand with the words "pricefall", "free" and the statement "your new prices will be higher than your existing prices"
I have just done a dual fuel deal with Eon. The deal is till September 2010, and should the price go up, my price is capped and remains the same. If the price comes down, then so does mine. Or I believe thats what the paperwork states.
Considering that most all other utility company's are offering price capping for 2 possibly 3 years, Scottish Power appears to be only offering a 6 month price cap. Perhaps not a very good deal, compared to other company's and their new package deals.
I was with British Gas for the gas supply, but they have admitted that they cannot better Eon's present gas prices. Electricity prices are about the same, for both company's.
Southern Electric that took effect from the 25th of August this year! I already knew some time ago, courtesy of the media, that they were set to rise, but it will come as a shock to some who were unaware of this announcement.
Just had a look at Ogem and I see the government have made 'changes to consumer representation' which will be published on their site on 19/09/2008. click here
Though I don't say that there is anything untoward in this, I am however a little uneasy to see that Ofgem's funding is paid for by the energy suppliers themselves. I'd much rather this wasn't the case. TC.
Ofgem's funding is paid for by the energy suppliers themselves. I'd much rather this wasn't the case. TC.
Who should pay? Is it not the case that the energy suppliers contribute to the cost?
TopCat, as you rightly state, there was a general price increase as from 22/25 August 2008 by all the providers of both electricity and gas. Seems strange that people are only now receiving this information in late September, early October. The same correspondence was provided by Eon at the later date. Doesn't do much for customer confidence and awareness!.
Regarding Watchdogs, its not surprising that most of these are funded from the industries that they Watchdog. Even when they are funded from the public purse, getting results can show a negative more than a positive at times. You may also be interested that the Freedom of Information Act, excludes some of these organisations.
If you agree to switch suppliers within 14 days of being informed of the price change, your current supplier should waive the price increase until your change of supplier has gone through - i.e. keep the original price. You need to inform them of your intent to switch within 14 (working???) days of their informing you, and (here I'm less certain) have instigated the switch within a further 7 days.
Considerable extra savings to be had. Well worth visiting one of the switching sites. Much more independent advice at moneysavingexpert.com
I have two separate supplies to different ends of the house (one end was once a separate dwelling), so switching for me saves double!
Glad you mentioned that, because when I was contacted by Eon, the new price changes were coming into effect, and the change was based on the new price acceptance.
Every energy company is doing this right now. They obviously know that the present very high prices will soon be forced downwards and want to tie people in so the can't change so easily when it happens.
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