should i take a 2 year fixed energy plan because energy prices never drop?

theone999

from memory it seems like the cost of energy every year has risen without fail no matter how poor the economy is, just like food at the supermarkets, it never gets cheaper?

spot1034

If you had posted that comment a year ago, you would have been proved spectacularly wrong within months.

theone999

spot1034 said:

If you had posted that comment a year ago, you would have been proved spectacularly wrong within months.

hi what do you mean? the cheapest quotes i'm getting this year off uswitch has risen 5%. despite you know, two recessions.

spot1034

theone999 said:

spot1034 said:

If you had posted that comment a year ago, you would have been proved spectacularly wrong within months.

hi what do you mean? the cheapest quotes i'm getting this year off uswitch has risen 5%. despite you know, two recessions.

I mean that wholesale energy costs fell during the late spring/early summer to a level that could never have been predicted. There were some very good deals available which were much cheaper than those on offer either a few months earlier or later - i.e. now.

molerat

If prices never fall why am I paying less for my gas now than I was 5 years ago ? And it is not because I am now on a cheap fix compared to SV back then, I am a serial switcher so always on a pretty good deal.

JJ_Egan

As above  prices drop and go up .

A recession does not mean wholesale prices have to drop .

But if i could get a really good two year price fix now i would take it as increases in the pipeline .

Neil_Jones

theone999 said:

from memory it seems like the cost of energy every year has risen without fail no matter how poor the economy is, just like food at the supermarkets, it never gets cheaper?

Well I don't know where you're shopping for food but I went on Tuesday and I would say about half of what I wanted to buy was either reduced because the date was up, reduced because the actual asking price was reduced, or was reduced because I used the app that knocks percentages off certain items and occasionally gives me a voucher.  I saved a grand total this week of £1.95.

As to energy prices, they have not "risen without fail".  I was fortunate that my tariffs ended in June last year and they are now far cheaper than what I can get today.

victor2

theone999 said:

from memory it seems like the cost of energy every year has risen without fail no matter how poor the economy is, just like food at the supermarkets, it never gets cheaper?

I renewed an account on an Avro 12 month fix to a new cheaper 12 month fix with Avro last year, and did exactly the same with an EDF account. So both those suppliers dropped their fixed tariff rates in 2020.
Look for a fix with no (or very low) exit penalty, then if rates do drop, you can just switch away.

theone999

JJ_Egan said:

As above  prices drop and go up .

A recession does not mean wholesale prices have to drop .

But if i could get a really good two year price fix now i would take it as increases in the pipeline .

24 month:
elect unit: 15.92

standing-26.49

gas unit: 2.84

standing 26.02

--

is that good? prices in pence inc VAT.

niktheguru

theone999 said:

JJ_Egan said:

As above  prices drop and go up .

A recession does not mean wholesale prices have to drop .

But if i could get a really good two year price fix now i would take it as increases in the pipeline .

24 month:
elect unit: 15.92

standing-26.49

gas unit: 2.84

standing 26.02

--

is that good? prices in pence inc VAT.

Depends on area.
Its not a great tariff for electricity.  The standing charges are high, the unit costs are ok but not the best. But then at least you get the security for 2 years.

Gerry1

Gas prices fell like a stone in 2020.

I had switched to a good tariff with Gulf which had a £30 exit fee, but Robin Hood Energy's mega-cheap swansong tariff made it well worthwhile to pay the exit fee and switch.  When BG took over they kept the tariff the same, scrapped the RHE exit fee and extended the fixed period for a month.  I'm now paying 2.02p per kWh, and a Daily Charge of 28.497p inc VAT.

Beat that !