Should I wait in the hope that gas/electricity prices fall?

w00519773

My two year gas and electricity contract expired at the end of August.  Therefore I did a few price comparison searchers mid August (using Go Compare; USwitch; CompareTheMarket; MoneySuperMarket etc).  They all offered slightly better prices (I would be paying £5 more PCM with my existing provider on their variable rate and about £1 PCM more with the best tariff available on a price comparison website).  However, my existing provider suggested waiting until 25/09 as government policy may mean that all prices (with all providers) fall by perhaps 8%.  I would be grateful for thoughts on this. 

Gerry1

It's groundhog day !

Short answer is No, but you need a crystal ball.

You should have started with Citizens Advice and 'Switch with Which?' and also considered separate suppliers.  You're probably now on an expensive Standard Variable Tariff, so beware.

MWT

w00519773 said:

However, my existing provider suggested waiting until 25/09 as government policy may mean that all prices (with all providers) fall by perhaps 8%.  I would be grateful for thoughts on this. 

The cap may go down, but any rational tariff you might pick is nowhere near the cap right now....