Switch now or after cap change?

Rocketdogroya

I'm currently doing my annual dual fuel switch so i can get a good fixed rate for next year. My current fixed rate ends mid September so i had planned to switch before then. However having just seen Martins article about the cap lowering in October is it going to be better to wait and have one month on a standard tarrif and then look into 'post' cap fixed rates after? I'm unsure if the cap will even affect a fixed rate or if its just the standard tarrifs. Please can someone help?
Thankyou
Roya

Quentin

Price cap doesn't apply to fixed tariff

Google ofgem price cap to learn all about it

Gerry1

If you're benefiting from Ofgem's price cap, you're paying way, waaay too much. It's only intended to help little old ladies who have never switched, never will, and are still buying postal orders to pay the Gas Board !

Just do a price comparison of the full market (e.g. MSE's CEC or Citizen's Advice sites), and decide whether you want a variable or fixed rate. Some of the challenger companies are quite good because they offer fixed rates with no exit penalties, but read the feedback and avoid the notorious twin companies with the absolutely dreadful ratings.

matelodave

If the cap gets reduced then there's a better than even chance that fixed tariffs will increase to compensate

Smodlet

Gerry1 wrote: »

If you're benefiting from Ofgem's price cap, you're paying way, waaay too much. It's only intended to help little old ladies who have never switched, never will, and are still buying postal orders to pay the Gas Board !

Not just little old ladies, Gerry1, let's not be sexist.

Rocketdogroya

Oh thank you for your replys, i understand now!