Stick or Twist?

apbenton

Hi All,

I'm currently half way through a 12 month fixed tariff with GB Energy (now Co-op). With warnings that the cheapest tariffs are become more expensive by the day, should I stick with my current tariff ( which is the cheapest I can find) until The end of the 12th months (May 2017) or should I move to something that is slightly more expensive but fixed for longer (until 2018)? Any advice will be much appreciated.

Thanks

Ashley

[Deleted User]

Only you can decide this but as it is winter, you will be using in the next 6 months, the vast majority of any fuel for heating (70% +) so swapping to an expensive fuel now may cost you more over the whole term of the new fix.
You need to do the maths for yourself as nobody knows how much fuel you use or how it is used in the different months of the year.

CashStrapped

As above

The best deal to be on is the cheapest one available now...if that is your existing deal..... stick with it.

I am on a very cheap deal. Electric ends in Feb, Gas in May. But, there is just no point in switching until then. Winter is here now, and that is where most of a household energy use goes.

If you think about it, it is pointless trying to second guess it. Prices are going up.

Those that switch now, will have to switch again in 12 months from now. Probably to an even more expensive tariff. So we will all end up on a more expensive tariff at some-point.

Maybe if I had switched onto a less competitive switch a few weeks ago, I would have got a better long term fix as prices go up. I could have stretch out the cheaper tariff for another few months...

But, that does not help what I am using now...this winter, and a lot of energy is used, so the best tariff, is the one I am on.

As I said, switching now may get you a better tariff than will be available in a month, but you can't delay the inevitable. Prices are going up. We are all going to be paying more for the foreseeable future.

apbenton

Thanks very much for your responses guys.