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Energy Switching
lindylootoo
Posts: 84 Forumite
in Energy
I have to switch soon, but just for one year? Or switch now for up to 3 years?
Any advice?
Any advice?
0
Comments
-
Do what makes financial sense for you.
Long term fixes (2/3 years) are generally much more expensive and you rarely save on them.0 -
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 30
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