Should I fix despite charges

lawnhall

Hi there -
Last time I heard Martin talking about fuel price rises I went online and changed my supplier. At the time NPower dual fuel energy online october 13 was the cheapest. I now see that this isn't a fixed rate but guarantees to be 3% less than their standard rate.
Question - should I swap to a fixed rate now (with another lot of rises) even though I'd have to pay £60 to get out early or do you think I'd do okay sticking?
Always take Martin's advice but stuck on this one
Any advice welcome.

macman

What do the comp sites say?
You're too late to get a cheap fix now, Martin has been recommending them for several months now, All the good ones are long gone I'm afraid.
As for the ETC, just factor it in. If a switch will save you more than £60 over the next 12m then you are still ahead.

lawnhall

Thanks. Well the problem is of course that no comparison site can know if I'm going to save more than £60 as we don't know what the prices will rise to. That's why I need advice from someone who has a good overview. Current comparisons come out as saving very little but thats at current rates. How bads it going to get I wonder....

macman

Good overview? But no one knows what prices will do in the next 3 months let alone 12.
A fix is not necessarily a cheaper deal, it's primarily an insurance policy, for which you pay a higher premium of course. Only you can decide if an extra £x pa is worth it for the peace of mind.

Meadows

lawnhall wrote: »

Should I swap to a fixed rate now (with another lot of rises) even though I'd have to pay £60 to get out early or do you think I'd do okay sticking?

Not sure I would be prepared to pay a £60 fee to come out of you contract unless the amount you were saving really and it worth the wile. Who is to say what prices will be like either way.

Also just because the tariffs shown on line are not fixed have you asked if your fix is still in place?

macman

But if the OP fixes then they'll know exactly what prices will be like...