End of fixed deal...what now?

Sthomas150

Hi all, my fixed deal with Pure Energy is coming to an end (31st July). I usually try to make the most of the MSE Big Switch but this isn't currently an option. 

The Cheap Energy Club is showing me the cheapest deal is PFP energy 'Green Variable s2 Online' which is variable (£64/mth). However I would ideally like a fixed deal. The cheapest fixed deal, also with PFP energy is £81/mth ( minus £25cashback). 

Shall I just switch to the variable deal and wait for the MSE Big Switch fixed deal to arrive?  The PFP has no exit fees.

Annual gas = 7400kwh
Annual elec = 3300khw


Many thanks 

S

JJ_Egan

Ignore the estimates use actual prices .

You can switch now under the rules .

What is the difference in unit prices .

Price drops in the next year doubt that very much .

cattom

https://www.confused.com/

niktheguru

Sthomas150 said:

Hi all, my fixed deal with Pure Energy is coming to an end (31st July). I usually try to make the most of the MSE Big Switch but this isn't currently an option. 

The Cheap Energy Club is showing me the cheapest deal is PFP energy 'Green Variable s2 Online' which is variable (£64/mth). However I would ideally like a fixed deal. The cheapest fixed deal, also with PFP energy is £81/mth ( minus £25cashback). 

Shall I just switch to the variable deal and wait for the MSE Big Switch fixed deal to arrive?  The PFP has no exit fees.

Annual gas = 7400kwh
Annual elec = 3300khw


Many thanks 

S

Its in your interests to do another fixed deal asap. Prices are not coming down anytime soon. Forget about the big switch deal, they are rarely the best on the market. 

If you stay on variable you run the risk that any fixed deal coming later will be a higher price than what is being offered now.

If you want to reduce your risk then take a fixed deal with a low exit fee. (but do your sums, see how much more expensive it is for your usage and see how long it would take to cover that exit fee compared to the cheapest fix with a higher exit fee.)

My advice is go to the cheapest fix for 12 months.

dogshome

1) Look beyond The Cheap Energy Club, they get paid by the suppliers for their recommendations. - Go to the Citizens Advice Energy site who list all the Suppliers & Tariffs without fear or favour

2) Dual Fuel tariffs rarely offer the best value on both fuels, having separate suppliers for the Gas & Electricity gives you the best of both worlds.

3) You have not given details of your dwelling, but your consumption figures are a bit odd

 The Annual Gas consumption of 7400Kw seems good and is on the low side, but the Leccy at 3300Kw a year is high and needs investigation of each and every appliance to find out where all this power is going.

brewerdave

dogshome said:

3) You have not given details of your dwelling, but your consumption figures are a bit odd

 The Annual Gas consumption of 7400Kw seems good and is on the low side, but the Leccy at 3300Kw a year is high and needs investigation of each and every appliance to find out where all this power is going.

3300kwh for leccy is about average ? 

Gerry1

brewerdave said:

dogshome said:

3) You have not given details of your dwelling, but your consumption figures are a bit odd

 The Annual Gas consumption of 7400Kw seems good and is on the low side, but the Leccy at 3300Kw a year is high and needs investigation of each and every appliance to find out where all this power is going.

3300kwh for leccy is about average ? 

For a property with gas, Ofgem says the typical electricity usage is Low 1800 kWh, Medium 2900 and High 4300.

Hermann

By a significant amount Symbio were the lowest cost fixed electricity deal I could find recently, 12.9p/kwh 10p/day standing charge.

The website states the tariff offer ended on 31 May but its still offered as an option if you visit Symbio directly and those who signed up in June seem to have been switched over to that offer ok.

Just make sure you have a read of the Symbio thread so you know what you're taking on, you need to keep on top of their 'estimates'.

Anything else is going to be considerably more and variable rates look to be only going up in price.

Sthomas150

niktheguru said:

Sthomas150 said:

Hi all, my fixed deal with Pure Energy is coming to an end (31st July). I usually try to make the most of the MSE Big Switch but this isn't currently an option. 

The Cheap Energy Club is showing me the cheapest deal is PFP energy 'Green Variable s2 Online' which is variable (£64/mth). However I would ideally like a fixed deal. The cheapest fixed deal, also with PFP energy is £81/mth ( minus £25cashback). 

Shall I just switch to the variable deal and wait for the MSE Big Switch fixed deal to arrive?  The PFP has no exit fees.

Annual gas = 7400kwh
Annual elec = 3300khw


Many thanks 

S

Its in your interests to do another fixed deal asap. Prices are not coming down anytime soon. Forget about the big switch deal, they are rarely the best on the market. 

If you stay on variable you run the risk that any fixed deal coming later will be a higher price than what is being offered now.

If you want to reduce your risk then take a fixed deal with a low exit fee. (but do your sums, see how much more expensive it is for your usage and see how long it would take to cover that exit fee compared to the cheapest fix with a higher exit fee.)

My advice is go to the cheapest fix for 12 months.

Current provider Pure Energy 100% Green 12m Fixed Jul20 v1
Gas  2.558p per kWh + 21.929p per day
Elec 14.956p per kWh + 21.929p per day
current cost =£69/month                           

______________________________________
PFP Energy - Variable Green Variable s2 Online
gas 3.833p per kWh  standing charge 20.180p per day

Elec 17.850p per kWh standing charge 20.180p per day
estimated cost = £64/month (variable)              £0 exit fee

cheapest fixed
PFP Energy- Power for the Planet s3 Online
gas 3.883p per kWh + 20.180p per day
elec 17.850 per k Wh + 20.180p per day
estimated cost £81/month                     £60 exit fee

not sure if its worth the extra ££ to fix to be honest? I've never been on a variable tariff though so no idea how much they tend to increase it by though. If they do give me notice of an increase I could switch it out with no fees

Sthomas150

dogshome said:

1) Look beyond The Cheap Energy Club, they get paid by the suppliers for their recommendations. - Go to the Citizens Advice Energy site who list all the Suppliers & Tariffs without fear or favour

2) Dual Fuel tariffs rarely offer the best value on both fuels, having separate suppliers for the Gas & Electricity gives you the best of both worlds.

3) You have not given details of your dwelling, but your consumption figures are a bit odd

 The Annual Gas consumption of 7400Kw seems good and is on the low side, but the Leccy at 3300Kw a year is high and needs investigation of each and every appliance to find out where all this power is going.

I didnt know about the Citizens advice had an energy site - much appreciated.  still has the same outcome in this instance however but nice to know