Variable Or Fixed ?

venomx

Looking to change electric provider. I found a good supplier, they offer variable or fixed rate.

Which one is best ? From what I read, fixed is better as if they put the prices up you can change before they increase

Also what about variable monthly/seasonal fixed. ? I have the choice to pay for exactly what I use, or to have a fixed bill ( one for winter and one for summer )

[Deleted User]

Suppliers can change variable price tariffs at will. If the changes lead to a price increase, then you will be allowed to switch with no exit fees. Fixed contracts comprise a fixed term; fixed unit price and DSC. These cannot be varied during your contract term. You can still switch but you may have to pay exit fees to do so. I say ‘may’ as some suppliers such as Octopus do not charge exit fees. 

There is no such thing as seasonal contracts. The annual cost of any tariff will be the tariff prices times the actual energy that you use. Let us say that you calculate that your annual electricity cost will be £480 a year. Some suppliers will charge you £40 a month for 12 months: others will charge you a mix; that is, £60 a month for 6 months and £20 a month for the 6 summer months (or some other combination). You still pay £480 and you will be on a 12 month contract.

phillw

It's essentially gambling. If you think prices are going to go up then fix, if you think prices are going to go down then go with a variable tariff.
Whether you want a fixed DD or one calculated based on your previous months usage is personal preference, I don't care either way as if you supply regular meter readings and adjust the DD/ask for balances to be refunded then it's hardly any different.

venomx

[Deleted User] said:

There is no such thing as seasonal contracts.

I meant they split the monthly cost into two.

For example. £50 per month during April - September and £70 per month during October - March

I think i'll stick to fixed then

venomx

Also. I live in a two bed flat however the 2nd bedroom is pretty much empty. Do I still have to select " two  bed "  when getting a quote. >?

Farway

venomx said:

Also. I live in a two bed flat however the 2nd bedroom is pretty much empty. Do I still have to select " two  bed "  when getting a quote. >?

NO, use Kilowatts per year used not pounds or number of rooms

You'll find this KW figure on your bills

[Deleted User]

Hi,

and remember that 'fixed' means the unit price and sc are fixed though your DD can change, the more you use the more you pay.

venomx

Farway said:

venomx said:

Also. I live in a two bed flat however the 2nd bedroom is pretty much empty. Do I still have to select " two  bed "  when getting a quote. >?

NO, use Kilowatts per year used not pounds or number of rooms

You'll find this KW figure on your bills

Right ok. I was with Yorkshire. On my bill it says how much I used per each month, not a total for the year.

venomx

What I could do is. Write down my meter reading on december 2019, and then take that away from my reading on december 2020 ?

I can only go back as far as 2/3/2020 though

molerat

venomx said:

What I could do is. Write down my meter reading on december 2019, and then take that away from my reading on december 2020 ?

Correct, as long as those meter readings are actual and not estimated by your supplier.  Any 2 actual readings 12 months apart is all you need.

venomx

molerat said:

venomx said:

What I could do is. Write down my meter reading on december 2019, and then take that away from my reading on december 2020 ?

Correct, as long as those meter readings are actual and not estimated by your supplier.  Any 2 actual readings 12 months apart is all you need.

OK thanks