Fixed Energy deal about to end

rushdenx1

My 2 year fixed energy deal with Scottish Power for Gas and Electricity ends in 2 weeks. Currently I am paying £1,312 per year but this will go up to £1,626 per year when the fixed deal ends. Should I be looking at taking out a new fixed deal or would I be better off being on the standard rates with Scottish Power because of the new price cap. I also have a Scottish Power smart metre installed, so not sure if this would be an issue if I wanted to switch to another supplier. Any advice appreciated. Kevin.

[Deleted User]

Get your actual energy consumption figures and do a price comparison https://energycompare.citizensadvice.org.uk/

This will tell you the cost going forward for you.

The price cap isn't necessarily going to make YOUR ENERGY COSTS lower. And the cap started on the 1st of January so all the price comparison sites should have the information needed to give you accurate results.

If you switch suppliers you will most likely have to read your own meter and submit readings to the new supplier. The meter will just become a normal meter in most cases.

apt

Remember you have 20 working days after the fixed tariff has ended to initiate a switch and still be kept on your existing tariff. You will also still be on your existing tariff while the switch is being completed providing it takes place within another 20 days. So you could be on your existing and presumably considerably cheaper tariff for most of this winter if you want.

grumpycrab

apt wrote: »

...So you could be on your existing and presumably considerably cheaper tariff for most of this winter if you want.

This is a great reminder but needs to be balanced with the risk of any existing deals being withdrawn in the short term. I've just changed to Utility Point - too cheap to be true!? - with a 5% increase on previous cheap Tonik tariff.
OP - you must do a comparison using known annual usages.