Variable tarriff big price difference, is it worth the hassle?

MidlandsGlory

My fixed is nearing the end I had electricity at 12.9p kwh, I am quite a big electricity user so standing charge and gas are secondary considerations.
All the fixed quotes I have found so far are more like 16p kwh, but some of the variables like from PFP are still around 12p/13p. 
I have been on fixed as long as I can remember so know nothing about variable, surely these sort of rates are just honey traps? and within weeks will ramp up to more expensive?
I know you can switch out without penalty but is it worth the hassle as its not exactly a smooth, quick process often. If there is a chance I will get a few cheaper months I am willing to go with it and see how it pans out.. Are they just traps in the hope you can't be bothered to move and pay the rising rates?

Tallerdave

It buys you some time to find a decent fix.

niktheguru

MidlandsGlory said:

My fixed is nearing the end I had electricity at 12.9p kwh, I am quite a big electricity user so standing charge and gas are secondary considerations.
All the fixed quotes I have found so far are more like 16p kwh, but some of the variables like from PFP are still around 12p/13p. 
I have been on fixed as long as I can remember so know nothing about variable, surely these sort of rates are just honey traps? and within weeks will ramp up to more expensive?
I know you can switch out without penalty but is it worth the hassle as its not exactly a smooth, quick process often. If there is a chance I will get a few cheaper months I am willing to go with it and see how it pans out.. Are they just traps in the hope you can't be bothered to move and pay the rising rates?

I wouldn't say they change in weeks. Look at neon reef, people on their variable rate stayed at the same price for quite a while. If the cost is significantly  better I'd take variable. Why pay more and fix with an exit fee. Obviously prices could go up but I think its worth the risk.

[Deleted User]

To a large degree, variable tariffs are now restricted by the Ofgem price cap with changes in April and October each year. Wholesale prices have risen over the past 12 months and the trend appears to be ever upwards. As far as I can see, there are a number of reasons for this: one, the World is coming back on stream and the cost of oil has increased accordingly. Two, our nuclear reactors are tired and maintenance is taking a lot longer than forecast and, three,  we have had a cold Winter and Spring. I suspect that a number of the very small suppliers are struggling.