Is your capped tariff ending? Article Discussion

scottme

SidP wrote: »

My first question is: when should I switch in order to minimise my extra payments? |If I switch too early, I'll be on a more expensive tariff longer than necessary; but if I switch too late, I'll be on my supplier's standard tariff until the switch kicks in.

Do you really believe there will ever be fixed-rate deals that cost less than those currently available?

My working assumption is that energy prices will rise inexorably and for ever, so the only thing at issue is whether the higher cost of a fixed price contract in its early period is a price worth paying for savings, which of course can't be quantified in advance, further along the road. It's a gamble, but in your place I'd switch sooner rather than later - take the best deal you can find now.

matelodave

I'm in the same position and feel that it's probably best to start thinking about it fairly soon before the winter price rises kick in and put it up even more. At present the best I can find is about 10% more than I'm presently paying An 8% increase on that would make it nearly 20% extra, so a month on a 10% higher tariff would then look like good value

I'm also not sure that Mr Millipede's stupid pronouncements won't spook the suppliers into cranking it up a bit more over the next couple of years just to give them a buffer in case he manages to get into government. He's already knocked £1bn off the share prices and who do you think they'll try and recover it from.

NittyGritty

SidP wrote: »

My fixed tariff (which I assume is the same as a capped tariff?) ends on the 31st October. I don't have to pay a cancellation fee. According to Which? and Uswitch there are currently no comparable offers, and I will have to pay more regardless of who I switch to.

My first question is: when should I switch in order to minimise my extra payments? If I switch too early, I'll be on a more expensive tariff longer than necessary; but if I switch too late, I'll be on my supplier's standard tariff until the switch kicks in.

Second question: Is it possible to specify the switchover date in advance?

if you want peace of mind fix now, otherwise you risk paying more once the current fix deals get pulled,and they will do eventually,( I notice the M&S tariff is ending shortly)
then a new tariff will come out yes it will prob be a tiny bit longer but the unit price will have no doubt increased.as with ALL new tariffs,( a new price hike)

it can take anything up to 6 weeks to switch , a week or so on another tariff once your current one ends end of oct wont cost you a lot to be on till switch is completed

SidP

Guess I'll start looking now, then. Maybe I can get a cashback offer to offset the difference

matelodave wrote: »

I'm also not sure that Mr Millipede's stupid pronouncements won't spook the suppliers into cranking it up a bit more over the next couple of years just to give them a buffer in case he manages to get into government. He's already knocked £1bn off the share prices and who do you think they'll try and recover it from.

I agree entirely. I can't help but think there's got to be more to this announcement than meets the eye. If he (and his plethora of advisors) couldn't foresee what you've described they don't deserve to get into govt. I wonder what he's really up to?

Ah, maybe it works both ways? He spooks them into raising prices now, which generates negative public opinion towards the current govt., increasing his chances of getting in? He probably correctly figures people will ignore/not realise that it was his fault in the first place.