To fix for 2 years or not to fix?

j368

Hi,
I'm coming to the end of my "Online Fix And Save June 2019 V2 tariff deal" with Scottish Power and they have written to offer me to move onto another deal, saying that with their "our two year Help Beat Cancer tariffs, you can protect your prices against future increasing energy costs up to May 2021."

The monthly costs they quote are not much different from I'm paying at the moment, and overall I've been happy with Scottish Power.

I guess I'm asking the assembled experts if you think energy prices will go up significantly before May 2021? Or would I be best doing a one year deal?
Thanks, Joy

JJ_Egan

See identical question posted every month .
Significant price rise probably not . But that depends upon so much that it has to be guesswork .
Personally i tend to take a two year fix .
You should use a comparison site and price up a new deal .
Then compare that with the 2021 fix .

molerat

Don't pay a premium for a long term fix. If it is cheap take it, if not look elsewhere.

btr30

My previous strategy was to take a 12 month fix with a big 6, and review at the end of the period, and switch if better deal was on offer. The 24 month deals tended to be more expensive so didn't think it was worth it. Of late I have been taking variable rates with Bulb and currently Pure Planet. These have enjoyed cheaper tariffs than the fixed deals available at the time. Also, Pure Planet have reduced standing charge and gas unit rates in the time I have been with them. If they increase price, there is no exit fee or tie ins so I will price around again and transfer if a better option is available.

JJ_Egan

As said depends upon the actual price .
My Feb 2018 2 year fix cost £30 more than the current best offer .
Everything based upon actual unit costs and standing charges not estimate costs or estimate direct debits .

thorganby

j368 wrote: »

Hi,
I'm coming to the end of my "Online Fix And Save June 2019 V2 tariff deal" with Scottish Power and they have written to offer me to move onto another deal, saying that with their "our two year Help Beat Cancer tariffs, you can protect your prices against future increasing energy costs up to May 2021."

The monthly costs they quote are not much different from I'm paying at the moment, and overall I've been happy with Scottish Power.

I guess I'm asking the assembled experts if you think energy prices will go up significantly before May 2021? Or would I be best doing a one year deal?
Thanks, Joy

Do not accept the tariff that SP have offered to you because you will find that cheaper SP tariffs (if you are happy to stay with them) are available via switching comparison sites along with £36 cashback for a dual fuel switch e.g. Simply Switch via Topcashback.