Can I Switch? Do I Need to Switch?

MaccaHallam

I rented an apartment 4 months ago and our gas & electric supply is from Scottish Power.

We're on an Online Beat Cancer tariff until Feb 2015 currently. My usage is roughly 75% of my monthly DD so I'm building a healthy surplus.

With all the news about price rises do I need to switch to get bills as low as possible or will I be unaffected by price rises until 2015 because of my tariff?

DragonQ

You'll need to check with the company but I'm pretty sure that isn't a fixed tariff and thus your prices will go up. Sounds like one of those tariffs that guarantees a discount on variable prices until a certain time.

MaccaHallam

I've had a look and it's not fixed but will be 4% cheaper than standard tariffs. There doesn't seem to be any charges if I leave. So guess it's time to find the right deal.

Been on the energy club and there are some deals that are cheaper now. Should I try to fix a price for as long as possible rather than go on a variable tariff that would save me more now but will probably go higher shortly?

DragonQ

Now is a terrible time to switch to variable tariffs because only 3 of the big 6 energy providers have announced price rises. I would go for a fixed tariff - some of them don't even have exit penalties so are win-win. Whether you want to pay a large premium for fixing longer is up to you.