MSE News: Energy prices - should you fix?

in Energy
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Former_MSE_GuyFormer_MSE_Guy Former MSE
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I've been Money Tipped! Newshound! Chutzpah Haggler
This is the discussion thread for the following MSE News Story:

"After the cheapest deal was pulled last week amid rising wholesale costs, some experts think you should play safe ..."
Read the full story:

Energy prices: should you fix?

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Replies

  • JoyfulJoyful Forumite
    2.4K Posts
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    I think it depends on whether you want stability or you can play the market. I personally have gone for BG's Websaver 7 having just come off a 5 year deal. I think the prices will still go up in the long term but am happy to pay an exit fee if things change drastically before the end of it. This way I can monitor on the web and news and make an informed decision.

    The people I feel for are those who just plod along paying a standard tariff.
    Self Employed, Running my Dream Jobs
  • blindmouseblindmouse Forumite
    148 Posts
    I have decided to switch companies and go onto a standard tariff. I have no idea if its fixed, I think not.

    I found the whole thing a nightmare and despite endless calls and trust me I spent hours on this, calling energyhelpline (who were so helpful) but still couldn't seem to tell me just what was my best option. My fixed plan EON came to an end and they offered me a new deal, when I checked online I could have got it cheaper with a different plan which they didn't offer me.... (Apparently they have to only offer the equivalent deal) I just came to the conclusion its all still designed to confuse us and switched. I still think I could have done better if I had a degree in pure maths but hey ho..........

    Martin I would love to hear your thoughts........
  • Having just moved into a new flat I decided to switch to EDF, who were the cheapest option for me when I moved two months ago. As the previous tenants had prepayment meters it's taken until now to have them replaced with normal meters. At present I'm not on any of the plans, just a standard tariff, but obviously I need to switch to one of their other tariffs asap. As I've just joined EDF and they've just changed my meters I'm assuming I'll be tied into some sort of contract already?

    My question really is should I switch to the cheapest capped plan with EDF which, at present, is estimated to cost me approximately £130 more per year than their cheapest variable plan? I'm assuming that this doesn't take into account the planned price rises. I'm a single person in a small one bedroom flat who works full time so I'm a low energy consumer at home. Does this make a difference?

    I'd be very grateful for any opinions.
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