Is a fixed contract unwise at the moment?

mttylad

With all the gas prioce reductions in the ether, would it be unwise to sign up for a fixed contract?

Mine ended in November & I'm on std tarriff at the mo, which should drop if the gas price does.

System

The biggest price drops have been on fixed tariffs. Choose a company with a good deal and no/low exit fee. E.oN meets both criteria. I am moving from Ovo to E.oN. If prices continue to fall, then I can switch immediately for a £10 exit fee.

Nada666

Why have you waited since November? You should have immediately chosen a new fix back in October to give you cheaper prices all this winter. By the time you switch now it will be March.

Cheapest fixes are loss leaders and would still be cheaper than alternatives. Yes, there is a chance new fixes will be a bit cheaper but the diferences would be not worth worrying about or delaying a switch.

Nada666

There are also some [STRIKE]top of the table[/STRIKE] fixes that do not have leaving fees [STRIKE](Ovo, for example)[/STRIKE].

System

Nada666 wrote: »

There are also some top of the table fixes that do not have leaving fees (Ovo, for example.)

Unless OVO has changed its policy in the last 24 hours, there is an exit fee of £30 per fuel on its fixed tariffs.

Edit:

Just checked on Which: the exit fees are still showing.

Nada666

Hengus wrote: »

Unless OVO has changed its policy in the last 24 hours, there is an exit fee of £30 per fuel on its fixed tariffs.

Edit:

Just checked on Which: the exit fees are still showing.

Sorry, had had prepayment tariffs selected when I checked.

Consumerist

mttylad wrote: »

Mine ended in November & I'm on std tarriff at the mo, which should drop if the gas price does.

Waiting on a standard variable is rarely, if ever, a good policy.

Switch yesterday.

The E.ON Energy Fixed 1 year v14 is a good hedge against huge price decreases (at only [STRIKE]£10[/STRIKE] [Oops!] £5 per fuel early-termination charges) as suggested above.

System

Hengus wrote: »

Unless OVO has changed its policy in the last 24 hours, there is an exit fee of £30 per fuel on its fixed tariffs.

Edit:

Just checked on Which: the exit fees are still showing.

No problem. I just didn't want the OP to sign up with OVO thinking that they could switch without penalty. Over the weekend, I tried to get OVO to allow me to switch tariffs without penalty and failed. OVO is an excellent company but with the market in such flux, customers need to have the flexibility to switch at will.

mttylad

I was out of the country, then Xmas happened where we all had the dreaded lurgy etc.

Cheers - I'm looking to fix soon, just need to find a roundtuit