My fixed deal ends 30th April should I swap now?

womble76

Hi,


I've read the latest MSE newsletter today and want to beat the looming energy price hikes. However I am on the cheapest deal already and this doesn't end until the end of April.
Should I stick or swap?!

thriftylass

Similar situation (May) and wonder what people would do.

System

womble76 wrote: »

Hi,


I've read the latest MSE newsletter today and want to beat the looming energy price hikes. However I am on the cheapest deal already and this doesn't end until the end of April.
Should I stick or swap?!

Hi - welcome to the forum. Only you can decide. You have three months of Winter left on your present tariff. How much more would it cost you if you switched tariffs today given that 3 months of Winter probably accounts for 30 to 40% of your annual usage? If you are on gas CH, I would probably stick. If electricity is the primary heating source, then the decision is more difficult as prices have risen - and continue to rise - because of green and social costs.

dogshome

STICK - Elec prices have been leaping forward since last Autumn and the chances of finding a tariff even only 15% dearer than yours are zero, and likewise with gas

hufc2002

I'm in exactly the same boat (fixed until end of Apr) and I am going to stick I think.

Asghar

My EDF fixed tariff ends at the end of April and hopefully will switch only the electricity this week as there are a few deals that can match the 12p per kWh that I am paying at the moment, the best EDF can do now is over 15p per kWh.

Gas I will leave a few months as it does not seem to be on the rise as fast, currently paying 2.34p per kWh and may as well make the most of it.
The next cheapest now all seem to be in the 3p to 3.2p range.

thriftylass

Asghar wrote: »

... there are a few deals that can match the 12p per kWh that I am paying at the moment, the best EDF can do now is over 15p per kWh.

..

Which ones? When I did a comparison on Comparethemarket I only saved about £46 a year on a £1053 bill with some obscure small company. Did I do sth wrong?

Asghar

thriftylass wrote: »

Which ones? When I did a comparison on Comparethemarket I only saved about £46 a year on a £1053 bill with some obscure small company. Did I do sth wrong?

SSE currently have on their website an Electricity rate of 11.634p per kWh, although their standing charge is 23.02p per day on a 1 year fix. All inc VAT.
The standing charge is 4p higher than I'm currently paying (£15 a year more) but works out the same overall.

Gas however is a different matter, will have to pay at least 30% more when my tariff ends.

That's for East London paying via Direct Debit.