First utility fixed rate offer

GARRYTYSO

I have been offfered a fixed rate at my current rate until September 2018 for both gas and electricity. Is this a good deal, or are lower energy prices likely during this period?

molerat

How does it stack up on the comparison sites ? Who knows where energy prices will be in 2 years. All you are tying into is certainty not value. To be honest I doubt anything FU are offering is a good deal, their cheapest offering for me is 20% more than I am currently paying and that is 2017, their 2018 is 43% more. Energy prices will have to move a long way to make that a viable proposition.

Neil_Jones

GARRYTYSO wrote: »

I have been offfered a fixed rate at my current rate until September 2018 for both gas and electricity. Is this a good deal, or are lower energy prices likely during this period?

Probably not is the possible answer to both questions.
Bash your usage figures into a comparison site such as the Cheap Energy Club or uSwitch or whatever and see what comes out on top for you.

Your region says you're in the West Midlands like me. First Utility's year price for 2017 are 33% higher than what I am already paying for my usage. Your mileage may vary.

his_missus

I'm currently on their fixed price until April 2017 and currently pay £34 a month for dual fuel and received an email this morning offering me a free switch to their August 2018 fixed tariff.


The email states my monthly payment would increase to £64 a month, although I get a free cosy thermostat (worth £279) included in the offer.


I would therefore be paying £30 a month more. If I switched, standing charges for gas and electricity would increase by 6p per day each, electricity would increase by 3p per unit and gas by 1p per unit.


I'm sure come April 2017 I'll be able to find a better deal than paying £60 a month.

jbuchanangb

I was also sent this invitation, fix to September 2018, free smart thermostat. I am also on FU's April 2017 tariff.
Like "his missus", I will wait until my current fix is close to its end date and then decide what to do.

I have already been stung once by FU for switching to another of their tariffs before the previous one had expired (£60), and it's not going to happen again.

Although for this particular invitation, tying in for 2 years, they would waive that fee.