Gas & Electric - Should I go on a variable or fixed

[John.]

We are coming of a fixed tariff. The fixed prices are sky high as is the variable rates but not as high as fixed.

Should we go fixed or go vary rates and wait until May/June for a better rate. I am aware the cap energy prices will increase by 50% in March I think.

 

[big-all]

look at what martin lewis says he is genuinly a crusader
https://www.moneysavingexpert.com/n...ergy-price-cap-s-now-predicted-to-rise-a-hor/

scroll down to the video but iff you are moving to the "normal " protected tariff then do nothing

 

[John.]

look at what martin lewis says he is genuinly a crusader
https://www.moneysavingexpert.com/n...ergy-price-cap-s-now-predicted-to-rise-a-hor/

scroll down to the video but iff you are moving to the "normal " protected tariff then do nothing

You are a good man, thank you.

 

[Harry Bloomfield]

We are coming of a fixed tariff. The fixed prices are sky high as is the variable rates but not as high as fixed.

Should we go fixed or go vary rates and wait until May/June for a better rate. I am aware the cap energy prices will increase by 50% in March I think.

My cheap fix, I have always had fixed, came to an end a couple of months ago. Both the fixed and variable rates they would move me to if I did nothing, were absolutly rediculous rates, so I gave it some thought, checked around and found a much cheaper variable which didn't tie me into a contract when things changed.

My thinking was, the energy companies are desperate to make up their losses and covering there backs in the future, that they have set a falsly high fixed rate. Variable means I only pay the actual cost and I gambled on the prices coming down. So far it is working, I am paying considerably more than last year, but about half what I could have been paying had I stayed where I was or gone for another fix. If things change, I can look again and be on a new tarrif in just three weeks without penalty.

Wish me luck.

 

[John.]

My cheap fix, I have always had fixed, came to an end a couple of months ago. Both the fixed and variable rates they would move me to if I did nothing, were absolutly rediculous rates, so I gave it some thought, checked around and found a much cheaper variable which didn't tie me into a contract when things changed.

My thinking was, the energy companies are desperate to make up their losses and covering there backs in the future, that they have set a falsly high fixed rate. Variable means I only pay the actual cost and I gambled on the prices coming down. So far it is working, I am paying considerably more than last year, but about half what I could have been paying had I stayed where I was or gone for another fix. If things change, I can look again and be on a new tarrif in just three weeks without penalty.

Wish me luck.

Thank you for your insight. I wish you luck.

 

[Justin Passing]

I was caught at the wrong time with the end of a fixed period. The only options were all expensive so I took a 2 yr fix. The annual bill will be near £4k and the pull-out fee is only £30, so if things turn, I'll switch. At the moment though, the cheapest available is nearer £5k.

 

[Harry Bloomfield]

I was caught at the wrong time with the end of a fixed period. The only options were all expensive so I took a 2 yr fix. The annual bill will be near £4k and the pull-out fee is only £30, so if things turn, I'll switch. At the moment though, the cheapest available is nearer £5k.

Ouch - mine is predicted to be around £1200.

 

[John.]

I thought we were hit hard. our new variable bill is now close to 2400 from a fraction under 1200. The fixed rate should have ended in June/July but the original supplier went bust very early and the new supplier guaranteed the fixed rate to their date and a few months more.

Am I right in saying that all 6/7 of the big boys have the same variable rates on dual tariffs?

 

[Harry Bloomfield]

I thought we were hit hard. our new variable bill is now close to 2400 from a fraction under 1200. The fixed rate should have ended in June/July but the original supplier went bust very early and the new supplier guaranteed the fixed rate to their date and a few months more.

Am I right in saying that all 6/7 of the big boys have the same variable rates on dual tariffs?

Similar rates, the same no! There are plenty of the smaller suppliers around still.

 

[John.]

Similar rates, the same no! There are plenty of the smaller suppliers around still.

Thanks, I was not aware of that but they may go belly up soon. But thanks again I will search

 

[Harry Bloomfield]

Thanks, I was not aware of that but they may go belly up soon. But thanks again I will search

It doesn't really matter if they do, you will just get moved to one of the bigger suppliers anyway - you end up where you were thinking of going.

 

[John.]

It doesn't really matter if they do, you will just get moved to one of the bigger suppliers anyway - you end up where you were thinking of going.

My apols for being thick, thank you.

 

[Harry Bloomfield]

My apols for being thick, thank you.

Not a problem, I am stuggling myself to get a handle on it.

The original advice at the start of all of this, was to stay put at the end of your contract and just let your supplier move you onto a variable. But it just seemed daft to pay so much more to my then supplier, on its variable or three times as much for its fixed deal. So I shopped around for a cheaper variable, which has proven much cheaper than I would paid.

 

[jeds]

My last bill before the company went bust was £1600 pa - I was £95 in credit. Now taken over by BG and DD has gone up to £2760 pa. I can't see the billing information yet so I'm unable to work out what happened to my credit or what the last reading was from peoples energy.

 

[John.]

My last bill before the company went bust was £1600 pa - I was £95 in credit. Now taken over by BG and DD has gone up to £2760 pa. I can't see the billing information yet so I'm unable to work out what happened to my credit or what the last reading was from peoples energy.

Takes time but it will be credited just keep eye on it

New amount is steep call them and tell them to give you your actual usage figures for 12 month period in kwh and use those for your new per month.
Min was close to 300 per month and they are trying to take more off you than need be imo but dont pay too little