What to choose. 1year fix 18month or 3year fix?

cmc_entertainment

Coming to the end of my First Utility June 2017 v6 online only deal and have the conundrum of choosing either 1 year 18month or 3 year fix.

This is for electricity only (long story about not being duel fuel which i wont go into)

Numbers

Current usage is based on 5399Kwh of Electricity for the below projections

1 year fix is £777 or £64.75 pm (Home Services fixed June 2018)
2 year fix is £808 or £67.33 pm (First fixed December V5 2018)
3 year fix is £823 or 68.58 pm (First Fixed march 2020 tarrif)

I would prefer to stay as i have sone but not bad arrears and for convenience.

Whats ppls opinion on what they would choose?

Cardew

3 year fix and Dubai Thunder in the Derby on 3rd June

teddysmum

OP,the choice is yours and yours alone.


The longer the fix the higher the tariff, but you know what future costs will be, assuming you can do the calculations.


If prices go up you have possibly won ,but not certainly ,as the increase may be less than the amount overpaid by taking a higher priced tariff.


On the other hand, if prices drop, you are stuck, unless you pay a hefty exit charge.


Some years ago, on tv ,Martin Lewis advised people to fix, fix, fix and for as long as possible, but those of us taking just a 12 month fix were the winners because prices fell, contrary to a predicted raise.


It is up to you whether you want to pay more for a certain priceor take a short fix,in the hope that prices stay the same or fall.


NO one knows the future; hence the betting tip above.

Blackbeard_of_Perranporth

Last October my supplier gave me an offer I could refuse, but it was £5 a month more and fixed to December 18. I took it. Prices have risen since and I'm chuffed.

Now oil has stabilised at $50, prices could come down and I'll move again. But the pound to the dollar who knows!

cmc_entertainment

Went for the 1 year fix as the end would coincide with my npower gas tarriff coming to the end.

Then it would be a duel fuel quotes r us in june 18

Pincher

It took me years to realise other people don't check the prices at least once a month.

It's NOT "I fix for one year and I get on with my life."

An MSE checks, and keeps checking, and switch again because it's cheaper. I almost never finish a one year fix.

This is why I am with Scottish Power, because I can tariff hop as soon as something cheaper, within Scottish Power, comes along.
I played this game with E.On FixOnline tariffs for years, until they stopped bringing out anything remotely competitive.

So, if you can't be bothered, get a three year fix, because the time you save is worth it.