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To fix for 12 months or 30 months
My energy fix is coming to an end soon with Avro, which is currently costing me £130 (approx) a month for Gas and Electric. I got this deal at a great time when prices were at the lowest seen.
It ends on 8th April, and at the moment, I'm looking at a minimum of a £20/25 at month increase, with the cheapest now around £150-155 for a fix.
Avro is £155 at the moment, which is the easiest option as it's just a tariff switch.
However, I am in two minds over whether to look more towards the future, where it seems unlikely that prices will go down significantly. So looking at longer term fixes, Quest energy currently have a 30 month fix, up to September 2021, which is currently showing as £170 a month, so would be an increase of £40 a month from my current prices.
My thoughts are:
1) should I take the hit now, with a view to saving in the long term
2) Will energy prices increase by this much, if not, I will be paying a lot more than needed
3) If Quest goes out of business in the next 12 months, I will have been paying higher prices for no gain
Your thoughts would be greatly appreciated, what would you do in this scenario?
It ends on 8th April, and at the moment, I'm looking at a minimum of a £20/25 at month increase, with the cheapest now around £150-155 for a fix.
Avro is £155 at the moment, which is the easiest option as it's just a tariff switch.
However, I am in two minds over whether to look more towards the future, where it seems unlikely that prices will go down significantly. So looking at longer term fixes, Quest energy currently have a 30 month fix, up to September 2021, which is currently showing as £170 a month, so would be an increase of £40 a month from my current prices.
My thoughts are:
1) should I take the hit now, with a view to saving in the long term
2) Will energy prices increase by this much, if not, I will be paying a lot more than needed
3) If Quest goes out of business in the next 12 months, I will have been paying higher prices for no gain
Your thoughts would be greatly appreciated, what would you do in this scenario?
0
Comments
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A similar dilemma is faced by most of us at some time; it is like guessing who will win the 2:30 at Epsom.
Assuming the Avro fix is for 12 months, compared with Quest you will have saved £180 over the term of the tariff. So that would be my choice.
Mind you the Brexit debacle adds another unknown factor!0
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