Energy Switching

lindylootoo

I have to switch soon, but just for one year? Or switch now for up to 3 years?
Any advice?

[Deleted User]

Do what makes financial sense for you.
Long term fixes (2/3 years) are generally much more expensive and you rarely save on them.

dogshome

As above long term fixes are risky, but here is no harm in doing the numbers

Look at the cost of the 1 year fix you could soon move to, then work out how much extra you will be paying for that year if you go to a 3 year fix

Working out the the second year is more tricky and pure guesswork, but say prices rise by 7.5% on 1 year tariffs, and work out if you lose on gain on that 3 year deal

For the 3rd year assume the price will rise again by 7.5% on 1 year fixes
Do the Final figures to see if you have recovered all that extra money you have paid out in years 1 & 2, by the savings made in year 3