Would you switch in these circumstances?

CelticStar

I'm currently with People's Energy, having switched to them from the appalling Iresa.

I keep reading Martin's advice about switching and fixing as there are bound to be price rises ahead. However, for me to switch to the cheapest fixed deal would mean I'd be about £230 worse off, which seems a bit pointless.

I don't know whether to stay put and gamble that price rises won't exceed £230 or to move away and fix but pay more. :think:

gjs1701

CelticStar wrote: »

I'm currently with People's Energy, having switched to them from the appalling Iresa.

I keep reading Martin's advice about switching and fixing as there are bound to be price rises ahead. However, for me to switch to the cheapest fixed deal would mean I'd be about £230 worse off, which seems a bit pointless.

I don't know whether to stay put and gamble that price rises won't exceed £230 or to move away and fix but pay more. :think:

No, I wouldn't switch. £230 is a lot of money, and I would think if there is an increase then switch to a cheaper tariff after that.

£230 seems like it would be a heck of an increase. Since most increases are single digit percentages, is your energy bill really in excess of £2300 pounds? Do you have an illicit cannabis farm in your back bedroom or something? :rotfl::rotfl::rotfl:

JJ_Egan

What are the actual unit prices ??
£230 reads as either an estimate that is wrong or you are on a very very cheap tarrif .

CelticStar

gjs1701 wrote: »

No, I wouldn't switch. £230 is a lot of money, and I would think if there is an increase then switch to a cheaper tariff after that.

£230 seems like it would be a heck of an increase. Since most increases are single digit percentages, is your energy bill really in excess of £2300 pounds? Do you have an illicit cannabis farm in your back bedroom or something? :rotfl::rotfl::rotfl:

I'm saying nothing. :rotfl: I input all my energy details last time into the energy club, I used the KWH rather than my direct debit details as well. We spend about £150 per month for gas and electric - we work from home and have our fire on a lot. I've re-checked and my bill would actually go up by £129 not £230 if I moved to a fixed tariff from my variable tariff at People's Energy.

System

CelticStar wrote: »

I'm saying nothing. :rotfl: I input all my energy details last time into the energy club, I used the KWH rather than my direct debit details as well. We spend about £150 per month for gas and electric - we work from home and have our fire on a lot. I've re-checked and my bill would actually go up by £129 not £230 if I moved to a fixed tariff from my variable tariff at People's Energy.

You have some protection on a variable tariff thanks to the Ofgem SVT Cap. The time to worry is when the cap is reviewed in 6/7 months time.