Oil Price and Energy

[Deleted User]

Good evening all,
My fixed price deal with Tonik has recently ended and given the drop in the oil price I wondered if I should pay extra on the variable rate for a now in the hope of prices dropping over the next few months. Felt sure there would be some advice on here but can't find anything. Please can anyone link me to such a discussion or offer your opinions.
Thanks,
Simon

lostintheether

I don't think that gas & electricity prices are linked so much to the price of oil as they used to be years ago, especially given that so much of our electricity is now sourced from renewables.
The price of natural gas might fluctuate a bit but in the general scheme of things it probably won't make any significant difference to domestic household energy prices.
If you really think you stand a chance of seeing future pricing being much cheaper you could do as you suggest and pay more now for a standard variable rate but it will be a gamble.
From memory an average charge to leave a contract early is around £30 per fuel so even if you entered a new contract, it would take a reduction in pricing of £60/year for dual fuel users to see any benefit in changing contracts early and such a saving depends upon your own usage combined with the potential saving.

Personally if being on a standard variable tariff was going to be considerably more expensive than a new contract (bearing in mind the fees to change early) I would change sooner rather than later.

JJ_Egan

Variable tariffs some are cheaper at present .

Pointless going on a standard tariff as above  .

Farway

JJ_Egan said:

Variable tariffs some are cheaper at present .

Pointless going on a standard tariff as above  .

I found this was was the case when I recently switched.

Seems a no brainer at the moment, for me it was cheaper & without an exit fee for variable rate

alexawiliams784

Find some alternatives and switch to them

JohnB47

I'm on a fixed rate dual fuel deal with no exit fee (Avro). I've even switched from my initial Avro tariff to a cheaper one, with them, when it became available.